FOX (NASDAQ:FOX) Stock Price Breaks Above Fifty Day Moving Average – Time to Sell?

Fox Corporation (NASDAQ:FOX) crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $58.00 and traded as high as $60.23. FOX shares last traded at $59.63, with a volume of 1,356,608 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on FOX shares. Seaport Research Partners cut FOX from a “buy” rating to a “hold” rating in a report on Friday, August 7th. Weiss Ratings upgraded FOX from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday. Guggenheim reaffirmed a “buy” rating on shares of FOX in a report on Tuesday, August 25th. Royal Bank Of Canada set a $95.00 price target on FOX in a research report on Tuesday, October 20th. Finally, Citigroup reiterated a “market outperform” rating on shares of FOX in a research report on Tuesday, October 20th. Three investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, FOX presently has a consensus rating of “Buy” and an average price target of $79.50.

FOX Stock Performance

The firm’s 50 day moving average is $58.00 and its 200-day moving average is $55.91. The stock has a market capitalization of $25.02 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 1.39 and a beta of 0.66. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.99 and a current ratio of 3.79.

FOX (NASDAQ:FOX) last released its quarterly earnings results on Monday, November 2nd. The company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.06 by $0.48. The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.32 billion. FOX had a net margin of 11.30% and a return on equity of 23.96%. Analysts forecast that Fox Corporation will post 6.26 earnings per share for the current fiscal year.

Insider Buying and Selling at FOX

In other news, CEO Lachlan Murdoch bought 149,934 shares of the stock in a transaction dated Tuesday, September 15th. The shares were acquired at an average cost of $68.53 per share, with a total value of $10,274,977.02. Following the purchase, the chief executive officer directly owned 1,401,713 shares in the company, valued at $96,059,391.89. The trade was a 11.98% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 23.06% of the company’s stock.

Hedge Funds Weigh In On FOX

Several institutional investors and hedge funds have recently modified their holdings of FOX. Versant Capital Management Inc boosted its position in FOX by 42.3% during the second quarter. Versant Capital Management Inc now owns 844 shares of the company’s stock worth $40,000 after purchasing an additional 251 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in FOX in the second quarter valued at approximately $70,000. Covestor Ltd grew its holdings in FOX by 102.0% in the third quarter. Covestor Ltd now owns 1,289 shares of the company’s stock valued at $73,000 after purchasing an additional 651 shares during the period. Glenmede Trust Co. NA increased its position in shares of FOX by 143.9% in the first quarter. Glenmede Trust Co. NA now owns 2,697 shares of the company’s stock valued at $143,000 after buying an additional 1,591 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of FOX by 27.6% in the first quarter. EverSource Wealth Advisors LLC now owns 2,838 shares of the company’s stock valued at $151,000 after buying an additional 613 shares in the last quarter. Hedge funds and other institutional investors own 26.41% of the company’s stock.

FOX Company Profile

Fox Corporation (NASDAQ: FOX) is a media and entertainment company formed in 2019 following the acquisition of most of 21st Century Fox’s entertainment assets by The Walt Disney Company. Fox operates a portfolio of news, sports, entertainment and local television businesses primarily serving audiences in the United States.

The company’s FOX News Media segment includes FOX News Channel, FOX Business Network, FOX News Digital and the FOX Nation streaming service. Its FOX Sports business provides live sports programming through the FOX broadcast network, FS1, FS2, FOX Deportes, the Big Ten Network and related digital platforms.