FOX (NASDAQ:FOX) Sets New 52-Week High – What’s Next?

Fox Co. (NASDAQ:FOX) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $44.51 and last traded at $44.49, with a volume of 13652 shares changing hands. The stock had previously closed at $44.12.

Analyst Ratings Changes

Several research firms have commented on FOX. Barclays raised FOX to a “hold” rating in a research report on Wednesday, October 9th. Seaport Res Ptn lowered FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th.

FOX Price Performance

The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. The company’s 50 day moving average is $39.70 and its 200-day moving average is $35.90. The stock has a market cap of $20.27 billion, a PE ratio of 10.85, a P/E/G ratio of 1.69 and a beta of 0.81.

Insiders Place Their Bets

In other news, 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 owns 249,424 shares in the company, valued at approximately $10,907,311.52. This trade represents a 42.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total value of $4,205,000.00. Following the transaction, the chairman now owns 1,258,862 shares in the company, valued at $52,935,147.10. This trade represents a 7.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.06% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Glenmede Trust Co. NA increased its stake in shares of FOX by 136.9% in the third 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 period. Blue Trust Inc. raised its stake in FOX by 692.1% during the 2nd quarter. Blue Trust Inc. now owns 1,410 shares of the company’s stock valued at $45,000 after acquiring an additional 1,232 shares in the last quarter. Friedenthal Financial acquired a new position in FOX during the 2nd quarter worth $51,000. Intact Investment Management Inc. bought a new position in shares of FOX in the third quarter worth $74,000. Finally, GAMMA Investing LLC increased its holdings in shares of FOX by 267.9% during the second quarter. GAMMA Investing LLC now owns 3,528 shares of the company’s stock valued at $113,000 after purchasing an additional 2,569 shares during the period. 26.41% of the stock is currently 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.