Insider Selling: Fox Co. (NASDAQ:FOXA) CFO Sells 5,607 Shares of Stock

Fox Co. (NASDAQ:FOXA - Get Free Report) CFO Steven Tomsic sold 5,607 shares of FOX stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $55.37, for a total value of $310,459.59. Following the completion of the sale, the chief financial officer now directly owns 133,923 shares in the company, valued at approximately $7,415,316.51. This represents a 4.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Steven Tomsic also recently made the following trade(s):

• On Tuesday, June 3rd, Steven Tomsic sold 39,642 shares of FOX stock. The stock was sold at an average price of $55.30, for a total value of $2,192,202.60.

FOX Stock Up 1.0%

NASDAQ FOXA traded up $0.53 during trading on Friday, reaching $54.37. 2,928,577 shares of the company's stock traded hands, compared to its average volume of 3,526,196. The company's 50 day simple moving average is $51.79 and its two-hundred day simple moving average is $51.30. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14. Fox Co. has a 12-month low of $32.76 and a 12-month high of $58.74. The firm has a market cap of $24.45 billion, a price-to-earnings ratio of 11.64, a price-to-earnings-growth ratio of 1.27 and a beta of 0.51.

FOX (NASDAQ:FOXA - Get Free Report) last released its earnings results on Monday, May 12th. The company reported $1.10 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.17. The company had revenue of $4.37 billion during the quarter, compared to analysts' expectations of $4.14 billion. FOX had a net margin of 14.39% and a return on equity of 18.50%. FOX's revenue for the quarter was up 26.8% on a year-over-year basis. During the same period last year, the business earned $1.40 EPS. As a group, sell-side analysts forecast that Fox Co. will post 4.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FOXA. Cfra Research upgraded FOX from a "hold" rating to a "moderate buy" rating in a research note on Monday, April 7th. Morgan Stanley increased their price target on FOX from $57.00 to $60.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 13th. Cowen reissued a "hold" rating on shares of FOX in a research report on Tuesday, May 13th. Guggenheim reaffirmed a "buy" rating and issued a $60.00 price target on shares of FOX in a research report on Tuesday, March 25th. Finally, UBS Group lifted their target price on shares of FOX from $61.00 to $63.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $52.71.

Institutional Trading of FOX

Large investors have recently made changes to their positions in the business. WealthTrak Capital Management LLC acquired a new position in shares of FOX in the 4th quarter valued at $26,000. SRS Capital Advisors Inc. lifted its position in FOX by 91.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company's stock valued at $27,000 after buying an additional 262 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in FOX in the fourth quarter valued at about $28,000. Hemington Wealth Management lifted its position in shares of FOX by 217.6% during the first quarter. Hemington Wealth Management now owns 524 shares of the company's stock worth $29,000 after purchasing an additional 359 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its stake in shares of FOX by 61.5% during the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company's stock worth $32,000 after buying an additional 249 shares during the period. 52.52% of the stock is owned by hedge funds and other 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.