FOX (NASDAQ:FOX) Sets New 12-Month High - Still a Buy?

Fox Co. (NASDAQ:FOX) achieved a new 52-week high on Friday, trading at $44.79 before settling at $44.76, based on a volume of 168,714 shares. This increase marked a notable rise from its previous close of $44.36.

Analysts Set New Price Targets

Several brokerages have recently updated their ratings on FOX. Seaport Res Ptn downgraded FOX from a "strong-buy" to a "hold" rating on September 9. Conversely, Barclays increased its rating for FOX to a "hold" on October 9.

FOX Stock Performance

The stock has a 50-day moving average of $40.24 and a 200-day moving average of $36.24. FOX has a market capitalization of $20.43 billion, a price-to-earnings (P/E) ratio of 10.85, a price/earnings-to-growth (PEG) ratio of 1.70, and a beta of 0.81. The company also reports a quick ratio of 2.33, a current ratio of 2.59, and a debt-to-equity ratio of 0.58.

Insider Activity

Insider trading has been significant as well. Chairman Keith Rupert Murdoch sold 100,000 shares on November 6 at an average price of $42.05. This sale totaled $4,205,000. Following this transaction, he retains 1,258,862 shares worth about $52.9 million, a decrease in ownership of 7.36%. Additionally, COO John Nallen sold 182,481 shares on November 5 at an average price of $43.73, resulting in a total value of around $7.98 million. Nallen's ownership decreased by 42.25%, leaving him with 249,424 shares valued at approximately $10.91 million. In the last ninety days, insiders have sold a total of 1,053,505 shares worth about $47.7 million, and company insiders hold 23.06% of the stock.

Institutional Trading of FOX

Institutional investors have also been active in trading FOX shares recently. Assenagon Asset Management S.A. acquired a new stake valued at approximately $65.71 million during Q2. National Bank of Canada FI increased its stake by 212.7% in Q3, owning 1,437,637 shares now valued at $55.78 million after adding 977,907 shares. State Street Corp boosted its holdings by 7.5%, now owning 9,639,382 shares worth $374.01 million, with an additional 671,511 shares purchased. Independent Franchise Partners LLP raised its stake by 14.5%, resulting in ownership of 5,023,830 shares valued at $160.86 million after buying an extra 636,247 shares. The Healthcare of Ontario Pension Plan Trust Fund showed a substantial increase of 448.4% in stake during Q3, now holding 712,900 shares worth $27.66 million. Overall, hedge funds and institutional investors own 26.41% of FOX's shares.

About FOX

Fox Corporation operates as a significant player in the U.S. news, sports, and entertainment sectors. The company runs four primary segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. Its Cable Network Programming segment focuses on producing and licensing news and sports content for distribution across various platforms, including traditional cable, direct broadcast satellite, and digital channels.

Should you invest $1,000 in FOX right now?

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