FOX (NASDAQ:FOXA) Shares Gap Up on Analyst Upgrade

Fox Co. (NASDAQ:FOXA) shares gapped up prior to trading on Monday after Morgan Stanley raised their price target on the stock from $38.00 to $40.00. The stock had previously closed at $41.88, but opened at $45.63. Morgan Stanley currently has an equal weight rating on the stock. FOX shares last traded at $43.36, with a volume of 1,070,601 shares.

Other research analysts have also recently issued reports about the stock. Guggenheim lifted their price target on shares of FOX from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Rosenblatt Securities upped their price target on shares of FOX from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Barclays increased their price target on FOX from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft boosted their price objective on FOX from $39.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group increased their target price on FOX from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, FOX currently has an average rating of “Hold” and a consensus target price of $41.46.

Insider Buying and Selling

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

Institutional Trading of FOX

Institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. grew its position in shares of FOX by 70.6% during 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 during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of FOX by 66.1% during the first quarter. Janney Montgomery Scott LLC now owns 13,396 shares of the company’s stock valued at $419,000 after purchasing an additional 5,331 shares during the last quarter. Daiwa Securities Group Inc. raised its position in shares of FOX by 2.9% during the 1st quarter. Daiwa Securities Group Inc. now owns 28,254 shares of the company’s stock worth $884,000 after purchasing an additional 784 shares during the period. Central Pacific Bank Trust Division bought a new stake in shares of FOX in the 1st quarter worth approximately $329,000. Finally, Envestnet Portfolio Solutions Inc. boosted its position in FOX by 16.5% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 33,659 shares of the company’s stock valued at $1,053,000 after purchasing an additional 4,776 shares during the period. Institutional investors own 52.52% of the company’s stock.

FOX Stock Performance

The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.33 and a current ratio of 2.54. The stock has a 50 day moving average of $41.39 and a 200 day moving average of $37.34. The stock has a market capitalization of $19.79 billion, a P/E ratio of 13.74, a P/E/G ratio of 1.91 and a beta of 0.76.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.07. The business had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.10 billion. FOX had a net margin of 10.74% and a return on equity of 15.57%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.88 EPS. Equities analysts predict that Fox Co. will post 3.69 EPS for the current year.

FOX Company Profile

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.