Insider Selling: FOX (NASDAQ:FOXA) CEO Sells $14,264,256.33 in Stock

Fox Corporation (NASDAQ:FOXA) CEO Lachlan Murdoch sold 247,257 shares of the stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $57.69, for a total transaction of $14,264,256.33. Following the sale, the chief executive officer directly owned 175,524 shares of the company’s stock, valued at approximately $10,125,979.56. The trade was a 58.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

FOX Stock Down 0.6%

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

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

FOX Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FOXA. FWL Investment Management LLC purchased a new stake in FOX in the third quarter valued at $26,000. Elyxium Wealth LLC purchased a new position in shares of FOX during the 4th quarter valued at about $27,000. CYBER HORNET ETFs LLC purchased a new position in shares of FOX during the 2nd quarter valued at about $35,000. Rosenberg Matthew Hamilton lifted its holdings in shares of FOX by 58.5% in the 4th quarter. Rosenberg Matthew Hamilton now owns 696 shares of the company’s stock valued at $51,000 after buying an additional 257 shares during the period. Finally, Quantbot Technologies LP acquired a new position in shares of FOX in the 3rd quarter valued at about $51,000. Hedge funds and other institutional investors own 52.52% of the company’s stock.

FOX News Summary

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)

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Argus upgraded FOX to a “hold” rating in a research note on Thursday, February 19th. Evercore lifted their target price on shares of FOX from $66.00 to $70.00 and gave the stock an “in-line” rating in a research note on Thursday, February 5th. TD Cowen lifted their price target on FOX from $55.00 to $65.00 and gave the stock a “hold” rating in a research report on Thursday, February 5th. UBS Group set a $64.00 price objective on FOX in a report on Tuesday, February 24th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $80.00 price objective on shares of FOX in a research note on Wednesday, February 4th. Seven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $71.80.

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.