FOX Target of Unusually High Options Trading (NASDAQ:FOXA)

Fox Corporation (NASDAQ:FOXA) was the target of some unusual options trading activity on Tuesday. Investors acquired 3,008 put options on the company. This is an increase of 306% compared to the average volume of 740 put options.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. The Goldman Sachs Group reiterated a “buy” rating and issued a $80.00 price objective on shares of FOX in a report on Wednesday, February 4th. Bank of America lowered FOX from a “buy” rating to an “underperform” rating and set a $45.00 price target on the stock. in a research report on Wednesday, February 25th. TD Cowen lifted their price target on FOX from $55.00 to $65.00 and gave the stock a “hold” rating in a research note on Thursday, February 5th. Guggenheim increased their price objective on FOX from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 22nd. Finally, UBS Group set a $64.00 target price on shares of FOX in a report on Tuesday, February 24th. Seven equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $71.80.

Insider Activity at FOX

In other FOX news, CEO Lachlan K. Murdoch sold 637,752 shares of FOX stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $58.20, for a total transaction of $37,117,166.40. Following the completion of the sale, the chief executive officer directly owned 152 shares in the company, valued at $8,846.40. The trade was a 99.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO John Nallen sold 216,806 shares of the firm’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $57.68, for a total transaction of $12,505,370.08. Following the sale, the chief operating officer owned 362,206 shares in the company, valued at approximately $20,892,042.08. This trade represents a 37.44% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 1,586,871 shares of company stock valued at $91,893,926. 19.68% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FOXA. Elyxium Wealth LLC purchased a new stake in shares of FOX in the 4th quarter worth approximately $27,000. FWL Investment Management LLC purchased a new position in FOX during the third quarter valued at $26,000. CYBER HORNET ETFs LLC bought a new stake in FOX in the second quarter worth $35,000. Rosenberg Matthew Hamilton boosted its holdings in FOX by 58.5% in the fourth quarter. Rosenberg Matthew Hamilton now owns 696 shares of the company’s stock worth $51,000 after acquiring an additional 257 shares in the last quarter. Finally, Private Trust Co. NA grew its stake in shares of FOX by 35.6% in the fourth quarter. Private Trust Co. NA now owns 712 shares of the company’s stock worth $52,000 after acquiring an additional 187 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors.

FOX Stock Up 2.6%

Shares of NASDAQ:FOXA opened at $58.76 on Wednesday. FOX has a 1 year low of $46.42 and a 1 year high of $76.39. The company has a market cap of $25.00 billion, a PE ratio of 14.13, a P/E/G ratio of 7.05 and a beta of 0.55. 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 stock’s 50-day moving average is $62.58 and its 200 day moving average is $64.38.

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

FOX Announces Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a yield of 83.0%. FOX’s dividend payout ratio (DPR) is presently 13.46%.

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.