FOX (NASDAQ:FOXA) Share Price Breaks Below 200-Day Moving Average – Time to Sell?

Fox Corporation (NASDAQ:FOXA)’s share price passed below its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $61.68 and traded as low as $61.09. FOX shares last traded at $62.08, with a volume of 4,605,426 shares trading hands.

Analyst Ratings Changes

FOXA has been the topic of a number of research analyst reports. Guggenheim reissued a “buy” rating and issued a $85.00 target price on shares of FOX in a research report on Wednesday, September 23rd. Wells Fargo & Company upgraded FOX from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $65.00 to $80.00 in a research report on Friday, August 14th. JPMorgan Chase & Co. raised FOX from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $70.00 to $82.00 in a research note on Friday, August 14th. Weiss Ratings upgraded FOX from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, September 29th. Finally, Citizens Jmp started coverage on FOX in a research note on Monday, September 14th. They set a “market outperform” rating and a $95.00 target price on the stock. Eleven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, FOX currently has an average rating of “Moderate Buy” and an average target price of $76.35.

FOX Trading Up 1.4%

The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.99 and a current ratio of 3.17. The company’s 50-day moving average price is $64.91 and its 200-day moving average price is $61.76. The firm has a market capitalization of $26.68 billion, a PE ratio of 16.60, a PEG ratio of 1.10 and a beta of 0.60.

FOX (NASDAQ:FOXA) last posted its earnings results on Thursday, August 6th. The company reported $1.79 EPS for the quarter, beating the consensus estimate of $1.44 by $0.35. FOX had a return on equity of 20.64% and a net margin of 9.84%.The firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same quarter in the prior year, the company posted $1.27 earnings per share. FOX’s revenue for the quarter was up 28.1% compared to the same quarter last year. On average, sell-side analysts expect that Fox Corporation will post 5.94 earnings per share for the current year.

FOX Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 2nd were issued a $0.29 dividend. The ex-dividend date was Wednesday, September 2nd. This represents a dividend yield of 86.0%. FOX’s dividend payout ratio is presently 15.14%.

Insider Buying and Selling at FOX

In other FOX news, CEO Lachlan Murdoch bought 149,934 shares of the business’s stock in a transaction dated Tuesday, September 15th. The shares were acquired at an average price of $68.53 per share, with a total value of $10,274,977.02. Following the transaction, the chief executive officer owned 1,401,713 shares of the company’s stock, valued at approximately $96,059,391.89. The trade was a 11.98% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 20.89% of the company’s stock.

Hedge Funds Weigh In On FOX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FOXA. MassMutual Private Wealth & Trust FSB acquired a new stake in FOX during the third quarter worth approximately $44,000. Elevation Wealth Partners LLC boosted its holdings in shares of FOX by 811.0% in the 3rd quarter. Elevation Wealth Partners LLC now owns 911 shares of the company’s stock valued at $57,000 after buying an additional 811 shares in the last quarter. TD Waterhouse Canada Inc. boosted its holdings in shares of FOX by 2,503.4% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,536 shares of the company’s stock valued at $80,000 after buying an additional 1,477 shares in the last quarter. Wilkerson Advisory Group LLC grew its position in shares of FOX by 50.6% in the 1st quarter. Wilkerson Advisory Group LLC now owns 1,435 shares of the company’s stock valued at $84,000 after buying an additional 482 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of FOX by 20.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,451 shares of the company’s stock valued at $85,000 after buying an additional 251 shares during the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

FOX Company Profile

Fox Corporation (NASDAQ: FOXA) is a U.S. media company that produces and distributes news, sports, and entertainment programming. Its portfolio includes FOX News Media, FOX Sports, FOX Entertainment, FOX Television Stations, and Tubi, an ad-supported streaming service offering movies, television programs, and other digital content.

FOX News Media operates FOX News Channel, FOX Business Network, FOX News Digital, and related audio and digital platforms. FOX Sports provides national and regional sports programming, while FOX Entertainment develops and broadcasts scripted and unscripted programming through the FOX broadcast network and other platforms.