FOX (NASDAQ:FOX) Downgraded to “Hold” Rating by Moffett Nathanson

Moffett Nathanson downgraded shares of FOX (NASDAQ:FOX) from a strong-buy rating to a hold rating in a report published on Tuesday,Zacks.com reports.

Separately, Barclays upgraded shares of FOX to a “hold” rating in a report on Wednesday, October 9th.

FOX Stock Performance

Shares of NASDAQ FOX opened at $45.78 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. The firm has a market cap of $20.91 billion, a P/E ratio of 11.19, a PEG ratio of 1.65 and a beta of 0.81. The stock has a fifty day moving average price of $45.23 and a two-hundred day moving average price of $40.12. FOX has a 1 year low of $25.82 and a 1 year high of $47.80.

FOX (NASDAQ:FOX) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.35. The company had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.37 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. During the same period in the prior year, the company earned $1.09 EPS. Research analysts forecast that FOX will post 3.91 EPS for the current fiscal year.

Insider Activity

In related news, COO John Nallen sold 182,481 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. The trade was a 42.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Keith Rupert Murdoch sold 771,024 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $46.07, for a total transaction of $35,521,075.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,053,505 shares of company stock worth $47,705,970. 23.06% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Glenmede Trust Co. NA lifted its stake in shares of FOX by 136.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 777 shares of the company’s stock valued at $30,000 after purchasing an additional 449 shares during the last quarter. Intact Investment Management Inc. bought a new stake in shares of FOX during the 3rd quarter worth about $74,000. Exchange Traded Concepts LLC acquired a new position in shares of FOX during the 3rd quarter valued at about $128,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of FOX in the 2nd quarter valued at approximately $136,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in FOX by 1,269.2% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,560 shares of the company’s stock worth $138,000 after purchasing an additional 3,300 shares during the last quarter. Hedge funds and other institutional investors own 26.41% of the company’s stock.

About FOX

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.