FOX (NASDAQ:FOX) Cut to “Hold” at Moffett Nathanson

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

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

FOX Stock Performance

Shares of FOX stock opened at $46.03 on Tuesday. The firm has a market capitalization of $21.02 billion, a P/E ratio of 11.25, a price-to-earnings-growth ratio of 1.65 and a beta of 0.81. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. FOX has a 12 month low of $25.82 and a 12 month high of $47.80. The business’s fifty day simple moving average is $45.28 and its 200 day simple moving average is $40.16.

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

Insiders Place Their Bets

In related news, Chairman Keith Rupert Murdoch sold 771,024 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $46.07, for a total transaction of $35,521,075.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO John Nallen sold 182,481 shares of FOX stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total value of $7,979,894.13. Following the completion of the transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at $10,907,311.52. This trade represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,053,505 shares of company stock valued at $47,705,970. 23.06% of the stock is currently owned by corporate insiders.

Institutional Trading of FOX

Several large investors have recently modified their holdings of FOX. Glenmede Trust Co. NA raised its holdings in FOX by 136.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 777 shares of the company’s stock worth $30,000 after purchasing an additional 449 shares in the last quarter. Intact Investment Management Inc. bought a new position in FOX in the third quarter worth about $74,000. Exchange Traded Concepts LLC bought a new position in FOX in the third quarter worth about $128,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in FOX in the second quarter worth about $136,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its position in FOX by 1,269.2% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,560 shares of the company’s stock valued at $138,000 after acquiring an additional 3,300 shares in the last quarter. 26.41% of the stock is owned by institutional investors.

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.