FOX (NASDAQ:FOX) Sets New 52-Week High – Here’s What Happened

Fox Co. (NASDAQ:FOX) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $47.19 and last traded at $47.07, with a volume of 130823 shares. The stock had previously closed at $46.47.

Analysts Set New Price Targets

Several research firms have weighed in on FOX. Barclays raised shares of FOX to a “hold” rating in a research note on Wednesday, October 9th. Seaport Res Ptn downgraded FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th.

FOX Stock Up 1.5 %

The firm has a market cap of $21.55 billion, a P/E ratio of 11.36, a price-to-earnings-growth ratio of 1.58 and a beta of 0.83. The stock’s 50 day simple moving average is $41.80 and its 200 day simple moving average is $37.56. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59.

Insider Buying and Selling

In other FOX news, Chairman Keith Rupert Murdoch sold 771,024 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $46.07, for a total transaction of $35,521,075.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 completion of the sale, the chief operating officer now directly 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 disclosure for this sale can be found here. Insiders have sold 1,053,505 shares of company stock worth $47,705,970 in the last quarter. Insiders own 23.06% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC boosted its stake in FOX by 15.2% in the third quarter. Janus Henderson Group PLC now owns 1,716,165 shares of the company’s stock worth $66,582,000 after buying an additional 226,867 shares in the last quarter. Summit Global Investments purchased a new stake in shares of FOX in the 3rd quarter valued at $768,000. Independent Franchise Partners LLP grew its holdings in shares of FOX by 14.5% during the 2nd quarter. Independent Franchise Partners LLP now owns 5,023,830 shares of the company’s stock valued at $160,863,000 after purchasing an additional 636,247 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in FOX by 47.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 704,359 shares of the company’s stock worth $22,554,000 after purchasing an additional 227,194 shares during the period. Finally, Barclays PLC boosted its position in FOX by 3.6% during the third quarter. Barclays PLC now owns 540,789 shares of the company’s stock valued at $20,982,000 after buying an additional 18,802 shares during the period. Institutional investors own 26.41% of the company’s stock.

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.