FOX (NASDAQ:FOXA) CEO Lachlan Murdoch Sells 242,747 Shares of Stock

Fox Corporation (NASDAQ:FOXA) CEO Lachlan Murdoch sold 242,747 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $57.74, for a total transaction of $14,016,211.78. Following the completion of the sale, the chief executive officer directly owned 175,524 shares in the company, valued at approximately $10,134,755.76. This trade represents a 58.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

FOX Price Performance

NASDAQ:FOXA opened at $57.39 on Friday. The firm has a market capitalization 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. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.44 and a current ratio of 2.78. Fox Corporation has a 52-week low of $46.42 and a 52-week high of $76.39. The stock has a fifty day moving average of $64.95 and a 200 day moving average of $64.43.

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

FOX Announces Dividend

The company also recently announced a dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 4th will be issued a $0.28 dividend. This represents a dividend yield of 83.0%. The ex-dividend date of this dividend is Wednesday, March 4th. FOX’s payout ratio is 13.46%.

Wall Street Analyst Weigh In

Several equities analysts have commented on FOXA shares. Barclays cut their price objective on FOX from $64.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 5th. JPMorgan Chase & Co. increased their price objective on FOX from $65.00 to $69.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Guggenheim raised their target price on FOX from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 22nd. The Goldman Sachs Group reiterated a “buy” rating and issued a $80.00 target price on shares of FOX in a research report on Wednesday, February 4th. Finally, Zacks Research cut FOX from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 5th. Seven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $71.80.

FOX News Roundup

Here are the key news stories impacting FOX this week:

• Positive Sentiment: CEO Lachlan K. Murdoch purchased 175,372 shares on March 13 at an average $60.63, raising his stake to ~1.25M shares — a visible insider buy that can be read as a vote of confidence in the company. Murdoch Form 4 (purchase)
• Positive Sentiment: Recent coverage highlights a shifting investment story around sports rights and advertising potential — this frames a possible medium-term revenue/upside catalyst for FOX’s broadcast and sports assets. How The Fox (FOXA) Investment Story Is Shifting Around Sports Rights And Advertising Potential
• Neutral Sentiment: Brokerage consensus remains a “Hold” on FOX, indicating analysts see limited near-term upgrade pressure despite the company’s recent fundamentals and messaging. Fox Corporation (NASDAQ:FOXA) Given Consensus Rating of “Hold” by Brokerages
• Negative Sentiment: Significant insider selling by leadership: CEO Lachlan Murdoch sold multiple tranches (totaling ~1.13M shares across Mar 11–13 for roughly $65M) and COO John Nallen sold ~459k shares (~$26.5M) across Mar 11–12. Those large disposals — even though partially offset by Murdoch’s purchase — are likely weighing on sentiment and helped drive elevated trading volume. Murdoch Form 4 (sales & purchase) Nallen Form 4 (sales)

Institutional Trading of FOX

Hedge funds have recently modified their holdings of the business. Elyxium Wealth LLC acquired a new stake in shares of FOX during the fourth quarter valued at $27,000. FWL Investment Management LLC acquired a new position in FOX during the 3rd quarter worth approximately $26,000. CYBER HORNET ETFs LLC bought a new position in FOX during the 2nd quarter valued at $35,000. Rosenberg Matthew Hamilton raised its holdings in shares of FOX by 58.5% during the fourth 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, Private Trust Co. NA grew its stake in FOX by 35.6% during the 4th quarter. Private Trust Co. NA now owns 712 shares of the company’s stock worth $52,000 after buying an additional 187 shares during the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

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.