FOX (NASDAQ:FOXA) Price Target Raised to $50.00

FOX (NASDAQ:FOXA) had its price target upped by UBS Group from $44.00 to $50.00 in a research note published on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

FOXA has been the topic of a number of other reports. Cfra reiterated a “sell” rating on shares of FOX in a research note on Wednesday, September 25th. Seaport Res Ptn lowered FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. Morgan Stanley increased their price target on FOX from $38.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. The Goldman Sachs Group boosted their target price on shares of FOX from $46.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday. Finally, TD Cowen increased their price target on FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, FOX has an average rating of “Hold” and an average price target of $44.00.

FOX Stock Up 1.4 %

FOXA opened at $43.60 on Tuesday. The stock’s fifty day simple moving average is $41.44 and its 200 day simple moving average is $37.42. The company has a current ratio of 2.54, a quick ratio of 2.33 and a debt-to-equity ratio of 0.61. The stock has a market cap of $20.07 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 1.90 and a beta of 0.76. FOX has a 1-year low of $28.28 and a 1-year high of $45.82.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.33. FOX had a return on equity of 15.57% and a net margin of 10.74%. The business had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same period last year, the firm posted $1.09 EPS. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, research analysts expect that FOX will post 3.69 earnings per share for the current year.

Insider Buying and Selling

In related news, COO John Nallen sold 52,874 shares of FOX stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $38.96, for a total value of $2,059,971.04. Following the sale, the chief operating officer now owns 249,424 shares of the company’s stock, valued at approximately $9,717,559.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Lachlan K. Murdoch purchased 119,705 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following the purchase, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO John Nallen sold 52,874 shares of FOX stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $38.96, for a total value of $2,059,971.04. Following the completion of the sale, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at approximately $9,717,559.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 21.77% of the stock is owned by insiders.

Hedge Funds Weigh In On FOX

Large investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. grew its stake in FOX by 70.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 74,595 shares of the company’s stock valued at $2,378,000 after buying an additional 30,866 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in FOX by 66.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 13,396 shares of the company’s stock worth $419,000 after purchasing an additional 5,331 shares during the period. Daiwa Securities Group Inc. increased its position in shares of FOX by 2.9% during the first quarter. Daiwa Securities Group Inc. now owns 28,254 shares of the company’s stock valued at $884,000 after buying an additional 784 shares during the period. Central Pacific Bank Trust Division bought a new position in shares of FOX in the first quarter valued at approximately $329,000. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in FOX by 16.5% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 33,659 shares of the company’s stock worth $1,053,000 after acquiring an additional 4,776 shares during the period. Hedge funds and other institutional investors own 52.52% of the company’s stock.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses news and sports content for distribution through traditional cable television systems, direct broadcast satellite operators and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S.