Insider Selling: FOX (NASDAQ:FOXA) COO Sells $13,990,921.66 in Stock

Fox Corporation (NASDAQ:FOXA) COO John Nallen sold 242,309 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $57.74, for a total value of $13,990,921.66. Following the completion of the sale, the chief operating officer directly owned 357,653 shares in the company, valued at $20,650,884.22. This represents a 40.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Thursday, March 12th, John Nallen sold 216,806 shares of FOX stock. The shares were sold at an average price of $57.68, for a total value of $12,505,370.08.

FOX Price Performance

NASDAQ:FOXA opened at $57.39 on Monday. The business’s 50-day moving average price is $64.95 and its 200 day moving average price is $64.51. The firm has a market cap of $24.41 billion, a P/E ratio of 13.80, a PEG ratio of 7.50 and a beta of 0.55. Fox Corporation has a 52-week low of $46.42 and a 52-week high of $76.39. The company has a quick ratio of 2.44, a current ratio of 2.78 and a debt-to-equity ratio of 0.60.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.35. FOX had a net margin of 11.41% and a return on equity of 18.14%. The company had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.02 billion. During the same period in the prior year, the company earned $0.96 EPS. 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 Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of FOX in a research report on Monday, December 29th. Wells Fargo & Company downgraded FOX from an “overweight” rating to a “hold” rating in a research report on Thursday, February 5th. Bank of America cut FOX from a “buy” rating to an “underperform” rating and set a $45.00 target price on the stock. in a report on Wednesday, February 25th. UBS Group set a $64.00 target price on FOX in a research report on Tuesday, February 24th. Finally, TD Cowen upped their target price on FOX from $55.00 to $65.00 and gave the company a “hold” rating in a report on Thursday, February 5th. Seven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $71.80.

FOX News Roundup

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)

Institutional Investors Weigh In On FOX

Institutional investors have recently bought and sold shares of the business. Winnow Wealth LLC purchased a new position in FOX during the 3rd quarter valued at about $1,238,000. Bank of New York Mellon Corp lifted its position in shares of FOX by 0.9% in the third quarter. Bank of New York Mellon Corp now owns 1,924,975 shares of the company’s stock worth $121,389,000 after purchasing an additional 16,757 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of FOX by 23.0% during the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 150,522 shares of the company’s stock worth $9,492,000 after purchasing an additional 28,118 shares during the period. Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of FOX by 9.3% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 662,247 shares of the company’s stock worth $41,761,000 after purchasing an additional 56,234 shares during the period. Finally, Andra AP fonden grew its position in FOX by 2.6% during the third quarter. Andra AP fonden now owns 944,500 shares of the company’s stock valued at $59,560,000 after purchasing an additional 23,700 shares in the last quarter. 52.52% of the stock is currently owned by institutional investors and hedge funds.

FOX Company Profile

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.