FOX (NASDAQ:FOXA) CEO Lachlan Murdoch Sells 637,752 Shares of Stock

Fox Corporation (NASDAQ:FOXA) CEO Lachlan Murdoch sold 637,752 shares of the business’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $58.20, for a total value of $37,117,166.40. Following the completion of the transaction, the chief executive officer owned 152 shares in the company, valued at approximately $8,846.40. This trade represents a 99.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

FOX Stock Down 0.6%

NASDAQ FOXA traded down $0.35 during mid-day trading on Friday, reaching $57.39. 9,569,095 shares of the company’s stock traded hands, compared to its average volume of 3,978,365. The company has a current ratio of 2.78, a quick ratio of 2.44 and a debt-to-equity ratio of 0.60. Fox Corporation has a 1-year low of $46.42 and a 1-year high of $76.39. The company has a fifty day simple moving average of $65.28 and a 200-day simple moving average of $64.45. The company has a market cap of $24.41 billion, a price-to-earnings ratio of 13.80, a P/E/G ratio of 7.54 and a beta of 0.55.

FOX (NASDAQ:FOXA) last released its earnings results on Wednesday, February 4th. The company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.47 by $0.35. FOX had a return on equity of 18.14% and a net margin of 11.41%.The company had revenue of $5.18 billion during the quarter, compared to analysts’ expectations of $5.02 billion. During the same period in the prior year, the business posted $0.96 EPS. The business’s revenue was up 2.0% on a year-over-year basis. As a group, equities research analysts expect that Fox Corporation will post 4.38 EPS for the current year.

FOX Announces Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th will be paid a dividend of $0.28 per share. This represents a yield of 83.0%. The ex-dividend date is Wednesday, March 4th. FOX’s dividend payout ratio is 13.46%.

Wall Street Analyst Weigh In

FOXA has been the subject of several research analyst reports. Argus raised shares of FOX to a “hold” rating in a research report on Thursday, February 19th. Weiss Ratings reissued a “buy (b)” rating on shares of FOX in a report on Monday, December 29th. The Goldman Sachs Group restated a “buy” rating and set a $80.00 price objective on shares of FOX in a research note on Wednesday, February 4th. Bank of America downgraded FOX from a “buy” rating to an “underperform” rating and set a $45.00 target price on the stock. in a report on Wednesday, February 25th. Finally, Morgan Stanley lifted their target price on FOX from $74.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 5th. Seven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $71.80.

Institutional Investors Weigh In On FOX

Several institutional investors and hedge funds have recently bought and sold shares of the business. FWL Investment Management LLC bought a new position in FOX in the third quarter worth about $26,000. Elyxium Wealth LLC acquired a new position in FOX in the fourth quarter valued at approximately $27,000. CYBER HORNET ETFs LLC bought a new position in shares of FOX during the second quarter valued at approximately $35,000. Rosenberg Matthew Hamilton raised its position in shares of FOX by 58.5% during the 4th quarter. Rosenberg Matthew Hamilton now owns 696 shares of the company’s stock worth $51,000 after purchasing an additional 257 shares during the period. Finally, Quantbot Technologies LP bought a new stake in shares of FOX in the 3rd quarter worth approximately $51,000. Institutional investors and hedge funds own 52.52% of the company’s stock.

About FOX

Fox Corporation (NASDAQ: FOXA) is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp’s operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.