Adam Ciongoli Sells 29,897 Shares of FOX (NASDAQ:FOX) Stock

Fox Corporation (NASDAQ:FOX) insider Adam Ciongoli sold 29,897 shares of the firm’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $69.55, for a total value of $2,079,336.35. Following the completion of the sale, the insider directly owned 35,978 shares of the company’s stock, valued at $2,502,269.90. The trade was a 45.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

FOX Trading Up 2.0%

FOX stock opened at $63.43 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.03 and a current ratio of 3.24. The stock has a market cap of $28.16 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 1.38 and a beta of 0.56. The stock has a 50-day moving average of $56.82 and a two-hundred day moving average of $53.81. Fox Corporation has a one year low of $43.18 and a one year high of $63.64.

FOX (NASDAQ:FOX) last posted its quarterly earnings data on Thursday, October 30th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.45. The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.57 billion. FOX had a net margin of 12.35% and a return on equity of 18.61%. On average, research analysts anticipate that Fox Corporation will post 4.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

FOX has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of FOX in a report on Monday. Cfra restated a “buy” rating and issued a $73.00 target price on shares of FOX in a research note on Monday, November 3rd. Fox Advisors set a $97.00 target price on FOX in a research note on Tuesday, October 28th. Zacks Research raised FOX from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 7th. Finally, UBS Group reissued a “buy” rating on shares of FOX in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $81.67.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio grew its stake in shares of FOX by 25.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 65,513 shares of the company’s stock worth $3,753,000 after purchasing an additional 13,231 shares during the period. Ameriprise Financial Inc. boosted its holdings in FOX by 27.9% during the third quarter. Ameriprise Financial Inc. now owns 114,626 shares of the company’s stock worth $6,567,000 after buying an additional 24,982 shares in the last quarter. California State Teachers Retirement System grew its position in FOX by 3.7% during the third quarter. California State Teachers Retirement System now owns 175,174 shares of the company’s stock valued at $10,036,000 after buying an additional 6,275 shares during the period. Brown Brothers Harriman & Co. increased its holdings in FOX by 336.9% in the third quarter. Brown Brothers Harriman & Co. now owns 616 shares of the company’s stock valued at $35,000 after buying an additional 475 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in FOX by 792.4% in the third quarter. Marshall Wace LLP now owns 3,184,642 shares of the company’s stock valued at $182,448,000 after buying an additional 2,827,768 shares in the last quarter. 26.41% of the stock is owned by institutional investors and hedge funds.

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.