Insider Selling: FOX (NASDAQ:FOXA) COO Sells $12,505,370.08 in Stock

Fox Corporation (NASDAQ:FOXA) COO John Nallen sold 216,806 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $57.68, for a total transaction of $12,505,370.08. Following the transaction, the chief operating officer owned 362,206 shares of the company’s stock, valued at $20,892,042.08. The trade was a 37.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

John Nallen also recently made the following trade(s):

• On Wednesday, March 11th, John Nallen sold 242,309 shares of FOX stock. The stock was sold at an average price of $57.74, for a total transaction of $13,990,921.66.

FOX Price Performance

Shares of NASDAQ FOXA opened at $57.39 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.78 and a quick ratio of 2.44. The business has a 50-day moving average of $64.95 and a 200-day moving average of $64.51. The stock has a market capitalization of $24.41 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 7.50 and a beta of 0.55. Fox Corporation has a fifty-two week low of $46.42 and a fifty-two week high of $76.39.

FOX (NASDAQ:FOXA) last released its earnings results on Wednesday, February 4th. The company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.35. FOX had a return on equity of 18.14% and a net margin of 11.41%.The business had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.02 billion. During the same quarter in the prior year, the company posted $0.96 earnings per share. FOX’s revenue was up 2.0% on a year-over-year basis. As a group, sell-side analysts predict that Fox Corporation will post 4.38 earnings per share for the current fiscal year.

FOX Announces Dividend

The company also recently declared a dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th will be given a dividend of $0.28 per share. This represents a yield of 83.0%. The ex-dividend date of this dividend is Wednesday, March 4th. FOX’s dividend payout ratio is 13.46%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of FOX in a research note on Monday, December 29th. Argus upgraded FOX to a “hold” rating in a research note on Thursday, February 19th. Zacks Research cut FOX from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 5th. Barclays reduced their target price on FOX from $64.00 to $63.00 and set an “equal weight” rating for the company in a research note on Thursday, February 5th. Finally, Morgan Stanley boosted their target price on FOX from $74.00 to $77.00 and gave the stock an “equal weight” rating in a report on Thursday, February 5th. Seven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, FOX presently has an average rating of “Hold” and a consensus target price of $71.80.

Hedge Funds Weigh In On FOX

A number of hedge funds have recently added to or reduced their stakes in the stock. FWL Investment Management LLC acquired a new position in FOX in the 3rd quarter valued at $26,000. Elyxium Wealth LLC acquired a new stake in shares of FOX during the 4th quarter worth $27,000. CYBER HORNET ETFs LLC acquired a new stake in shares of FOX during the 2nd quarter worth $35,000. Rosenberg Matthew Hamilton increased its position in shares of FOX by 58.5% in the fourth quarter. Rosenberg Matthew Hamilton now owns 696 shares of the company’s stock worth $51,000 after purchasing an additional 257 shares during the period. Finally, Quantbot Technologies LP bought a new position in shares of FOX in the third quarter worth $51,000. Institutional investors own 52.52% of the company’s stock.

Key FOX News

Here are the key news stories impacting FOX this week:

• Positive Sentiment: CEO Lachlan K. Murdoch purchased 175,372 shares on March 13 at an average $60.63, raising his stake to ~1.25M shares — a visible insider buy that can be read as a vote of confidence in the company. Murdoch Form 4 (purchase)
• Positive Sentiment: Recent coverage highlights a shifting investment story around sports rights and advertising potential — this frames a possible medium-term revenue/upside catalyst for FOX’s broadcast and sports assets. How The Fox (FOXA) Investment Story Is Shifting Around Sports Rights And Advertising Potential
• Neutral Sentiment: Brokerage consensus remains a “Hold” on FOX, indicating analysts see limited near-term upgrade pressure despite the company’s recent fundamentals and messaging. Fox Corporation (NASDAQ:FOXA) Given Consensus Rating of “Hold” by Brokerages
• Negative Sentiment: Significant insider selling by leadership: CEO Lachlan Murdoch sold multiple tranches (totaling ~1.13M shares across Mar 11–13 for roughly $65M) and COO John Nallen sold ~459k shares (~$26.5M) across Mar 11–12. Those large disposals — even though partially offset by Murdoch’s purchase — are likely weighing on sentiment and helped drive elevated trading volume. Murdoch Form 4 (sales & purchase) Nallen Form 4 (sales)

About FOX

Fox Corporation (NASDAQ: FOXA) is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp’s operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.