FOX (NASDAQ:FOXA) Raised to “Buy” at Seaport Research Partners

FOX (NASDAQ:FOXA) was upgraded by equities research analysts at Seaport Research Partners from a “neutral” rating to a “buy” rating in a research report issued on Monday, MarketBeat reports. The brokerage currently has a $76.00 price objective on the stock. Seaport Research Partners‘s price target would suggest a potential upside of 11.43% from the company’s current price.

FOXA has been the subject of a number of other research reports. Wells Fargo & Company raised FOX from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $65.00 to $80.00 in a report on Friday, August 14th. Needham & Company LLC initiated coverage on FOX in a research note on Friday, October 16th. They issued a “buy” rating for the company. Raymond James Financial raised FOX to a “strong-buy” rating in a research note on Friday, October 16th. KeyCorp cut shares of FOX to a “sector weight” rating in a research report on Friday, October 16th. Finally, Jefferies Financial Group downgraded shares of FOX to a “hold” rating in a research note on Friday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, FOX has an average rating of “Moderate Buy” and a consensus price target of $79.16.

FOX Price Performance

Shares of NASDAQ:FOXA traded up $1.57 during trading on Monday, hitting $68.21. 431,041 shares of the company were exchanged, compared to its average volume of 4,924,013. FOX has a 1-year low of $48.34 and a 1-year high of $76.39. The company has a market capitalization of $28.77 billion, a P/E ratio of 14.48, a price-to-earnings-growth ratio of 1.07 and a beta of 0.63. The company has a quick ratio of 3.50, a current ratio of 3.79 and a debt-to-equity ratio of 0.53. The business’s 50 day moving average is $64.86 and its 200-day moving average is $62.17.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Monday, November 2nd. The company reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.52. The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.32 billion. FOX had a return on equity of 23.96% and a net margin of 11.30%. FOX’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter last year, the business posted $1.51 EPS. Equities analysts forecast that FOX will post 6.18 earnings per share for the current year.

Insider Buying and Selling at FOX

In related news, CEO Lachlan Murdoch purchased 149,934 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was bought at an average price of $68.53 per share, with a total value of $10,274,977.02. Following the completion of the purchase, the chief executive officer owned 1,401,713 shares in the company, valued at approximately $96,059,391.89. This represents a 11.98% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 20.89% of the company’s stock.

Hedge Funds Weigh In On FOX

A number of hedge funds and other institutional investors have recently made changes to their positions in FOXA. Evergreen Capital Management LLC boosted its holdings in FOX by 2.1% in the third quarter. Evergreen Capital Management LLC now owns 7,462 shares of the company’s stock valued at $467,000 after acquiring an additional 156 shares during the last quarter. XXI Wealth LLC raised its holdings in FOX by 4.2% during the 3rd quarter. XXI Wealth LLC now owns 5,700 shares of the company’s stock worth $357,000 after purchasing an additional 232 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in FOX by 20.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,451 shares of the company’s stock worth $85,000 after purchasing an additional 251 shares during the last quarter. Greenleaf Trust raised its holdings in FOX by 4.4% during the 2nd quarter. Greenleaf Trust now owns 6,295 shares of the company’s stock worth $328,000 after purchasing an additional 267 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in shares of FOX by 1.1% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 35,335 shares of the company’s stock worth $1,843,000 after purchasing an additional 389 shares during the period. 52.52% of the stock is owned by institutional investors and hedge funds.

FOX Company Profile

Fox Corporation is a media company focused primarily on news, sports and entertainment for audiences in the United States. Its businesses include Fox News Media, Fox Sports and Fox Entertainment, which produce and distribute television programming, news coverage, live sports and entertainment content.

The company also operates the Fox broadcast network and local television stations, and offers streaming services including Tubi, an ad-supported streaming platform, and Fox Nation, a subscription service.