FOX (NASDAQ:FOXA) Insider Adam Ciongoli Sells 29,897 Shares

Fox Corporation (NASDAQ:FOXA) insider Adam Ciongoli sold 29,897 shares of FOX stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $69.55, for a total transaction of $2,079,336.35. Following the transaction, the insider directly owned 35,978 shares in the company, valued at $2,502,269.90. This trade represents a 45.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

FOX Trading Up 1.6%

NASDAQ:FOXA traded up $1.09 during mid-day trading on Tuesday, reaching $70.30. 3,093,368 shares of the company’s stock traded hands, compared to its average volume of 3,809,835. The company has a 50 day moving average price of $63.06 and a 200-day moving average price of $59.12. Fox Corporation has a 12-month low of $45.91 and a 12-month high of $70.63. The firm has a market capitalization of $31.21 billion, a price-to-earnings ratio of 15.80, a PEG ratio of 1.53 and a beta of 0.51. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.24 and a quick ratio of 3.03.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Thursday, October 30th. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.41. The business had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.57 billion. FOX had a return on equity of 18.61% and a net margin of 12.35%.The business’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.45 EPS. On average, sell-side analysts predict that Fox Corporation will post 4.38 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on FOXA shares. The Goldman Sachs Group reaffirmed a “buy” rating and set a $79.00 price objective on shares of FOX in a research report on Thursday, October 30th. Morgan Stanley set a $70.00 target price on FOX in a research report on Friday, October 31st. Citigroup increased their price objective on shares of FOX from $68.00 to $77.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. UBS Group increased their target price on FOX from $65.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Finally, Arete Research raised shares of FOX from a “neutral” rating to a “buy” rating and set a $97.00 price objective for the company in a report on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $70.50.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FOXA. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of FOX by 2.5% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 261,100 shares of the company’s stock worth $16,460,000 after buying an additional 6,300 shares during the last quarter. Williamson Legacy Group LLC lifted its position in shares of FOX by 7.6% in the third quarter. Williamson Legacy Group LLC now owns 17,164 shares of the company’s stock valued at $1,082,000 after acquiring an additional 1,217 shares in the last quarter. FWL Investment Management LLC purchased a new stake in shares of FOX during the third quarter worth $26,000. United Capital Financial Advisors LLC raised its holdings in FOX by 8.6% in the 3rd quarter. United Capital Financial Advisors LLC now owns 5,609 shares of the company’s stock valued at $354,000 after acquiring an additional 443 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of FOX by 6.0% in the third quarter. Public Employees Retirement System of Ohio now owns 84,374 shares of the company’s stock valued at $5,321,000 after purchasing an additional 4,809 shares during the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

FOX Company Profile

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.