Investors Buy High Volume of Call Options on FOX (NASDAQ:FOXA)

Fox Corporation (NASDAQ:FOXA) was the recipient of some unusual options trading activity on Friday. Stock traders bought 6,021 call options on the stock. This represents an increase of 118% compared to the average daily volume of 2,759 call options.

Analyst Ratings Changes

Several brokerages recently commented on FOXA. Needham & Company LLC began coverage on FOX in a research report on Friday. They issued a “buy” rating for the company. Seaport Research Partners cut FOX from a “buy” rating to a “neutral” rating in a report on Friday, August 7th. Citigroup assumed coverage on shares of FOX in a research note on Monday, September 14th. They issued an “outperform” rating on the stock. Guggenheim restated a “buy” rating and issued a $85.00 price target on shares of FOX in a research report on Wednesday, September 23rd. Finally, Rothschild & Co Redburn set a $71.00 price objective on shares of FOX and gave the stock a “buy” rating in a report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $78.12.

FOX Stock Up 0.3%

Shares of NASDAQ FOXA opened at $64.15 on Friday. The firm’s 50-day moving average is $65.26 and its 200-day moving average is $61.93. FOX has a 1 year low of $48.34 and a 1 year high of $76.39. The firm has a market capitalization of $26.92 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 1.14 and a beta of 0.60. The company has a current ratio of 3.17, a quick ratio of 2.99 and a debt-to-equity ratio of 0.56.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Thursday, August 6th. The company reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.35. FOX had a return on equity of 20.64% and a net margin of 9.84%. The company had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter in the prior year, the business posted $1.27 EPS. The firm’s quarterly revenue was up 28.1% on a year-over-year basis. Equities analysts expect that FOX will post 5.94 EPS for the current year.

FOX Announces Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd were issued a dividend of $0.29 per share. The ex-dividend date was Wednesday, September 2nd. This represents a dividend yield of 86.0%. FOX’s dividend payout ratio (DPR) is presently 15.14%.

More FOX News

Here are the key news stories impacting FOX this week:

• Positive Sentiment: Bank of America upgraded Fox Corporation (FOXA) to “Buy” from “Underperform” and raised its price target to $85 from $54. The bank expects the Roku acquisition to strengthen Fox’s growth outlook and generate approximately $700 million in additional annual earnings by 2028. Fox upgraded to Buy at Bank of America as Roku deal boosts growth outlook
• Positive Sentiment: Fox’s acquisition of Roku gives it a direct platform for distributing programming to viewers, potentially improving the reach and monetization of major content such as Sunday NFL games. Why Fox Can Finally Breathe a Sigh of Relief With Roku Deal—and Why the NFL Can’t
• Positive Sentiment: Options activity was notably bullish: investors bought 6,021 FOX call contracts, more than double the average volume of 2,759. This suggests increased speculative interest in further upside, though options activity is not a guarantee of future performance.
• Positive Sentiment: Fox received additional positive attention from a Zacks upgrade, with commentary suggesting the stock may have been undervalued relative to earnings estimates and intrinsic value. Fox Wins A Zacks Upgrade
• Neutral Sentiment: Reports indicate that Fox has officially acquired Roku, although some analyst commentary still describes the transaction as pending. The strategic benefits are positive, but execution, integration costs, and the ability to convert Roku’s platform into sustained earnings remain key considerations. FOX OFFICIALLY ACQUIRES ROKU
• Negative Sentiment: Fox recently traded below its 200-day moving average, a technical warning that may limit near-term momentum despite the stronger fundamental outlook. FOX Share Price Crosses Below 200-Day Moving Average

Insider Transactions at FOX

In related news, CEO Lachlan Murdoch acquired 149,934 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was acquired at an average price of $68.53 per share, with a total value of $10,274,977.02. Following the completion of the transaction, the chief executive officer owned 1,401,713 shares of the company’s stock, valued at approximately $96,059,391.89. This represents a 11.98% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 20.89% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On FOX

Hedge funds and other institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its position in FOX by 20.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,451 shares of the company’s stock worth $85,000 after buying an additional 251 shares during the last quarter. Greenleaf Trust lifted its holdings in FOX by 4.4% during the 2nd quarter. Greenleaf Trust now owns 6,295 shares of the company’s stock worth $328,000 after purchasing an additional 267 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of FOX by 1.1% during the second quarter. Sequoia Financial Advisors LLC now owns 35,335 shares of the company’s stock worth $1,843,000 after buying an additional 389 shares in the last quarter. Wilkerson Advisory Group LLC lifted its holdings in shares of FOX by 50.6% during the first quarter. Wilkerson Advisory Group LLC now owns 1,435 shares of the company’s stock worth $84,000 after buying an additional 482 shares in the last quarter. Finally, Advus Financial Partners LLC increased its position in FOX by 11.5% during the second quarter. Advus Financial Partners LLC now owns 4,744 shares of the company’s stock worth $247,000 after acquiring an additional 489 shares during the period. 52.52% of the stock is owned by institutional investors.

FOX Company Profile

Fox Corporation (NASDAQ: FOXA) is a U.S. media company that produces and distributes news, sports, and entertainment programming. Its portfolio includes FOX News Media, FOX Sports, FOX Entertainment, FOX Television Stations, and Tubi, an ad-supported streaming service offering movies, television programs, and other digital content.

FOX News Media operates FOX News Channel, FOX Business Network, FOX News Digital, and related audio and digital platforms. FOX Sports provides national and regional sports programming, while FOX Entertainment develops and broadcasts scripted and unscripted programming through the FOX broadcast network and other platforms.