FOX (NASDAQ:FOX) Sets New 12-Month High - Is It a Good Investment?

Fox Corporation (NASDAQ:FOX) achieved a new 52-week high on Friday, trading at $44.79 at its peak and last seen at $44.76, with a trading volume of 168,714 shares. The previous close was $44.36.

Analysts Update Their Price Targets

Several brokerage firms have recently provided updates on FOX. Seaport Res Ptn downgraded FOX from a "strong-buy" to a "hold" rating on September 9th. Conversely, Barclays upgraded the stock to a "hold" rating on October 9th.

Analysis of FOX Stock Performance

The stock has a 50-day moving average of $40.24 and a 200-day moving average of $36.24. Currently, 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 coefficient of 0.81. The quick ratio stands at 2.33, the current ratio at 2.59, and the debt-to-equity ratio is measured at 0.58.

Insider Trading Activity

Recently, Chairman Keith Rupert Murdoch sold 100,000 shares of FOX stock on November 6th for about $4.21 million, reducing his holdings by 7.36%. After the sale, he retains ownership of approximately 1,258,862 shares, valued at about $52.94 million. Moreover, COO John Nallen sold 182,481 shares on November 5th for a total of $7.98 million, a 42.25% reduction in his ownership, leaving him with 249,424 shares worth around $10.91 million. Over the last 90 days, insiders have sold a total of 1,053,505 shares for about $47.71 million. Insiders hold 23.06% of the company's stock.

Institutional Trading Activity

Recently, numerous hedge funds and institutional investors have changed their stances on FOX shares. Assenagon Asset Management S.A. bought a new stake worth approximately $65.71 million during the second quarter. National Bank of Canada FI increased its stake by 212.7% in the third quarter and now owns 1,437,637 shares, valued at $55.78 million after an additional purchase of 977,907 shares. State Street Corp also boosted its stake by 7.5% and holds 9,639,382 shares, currently valued at $374.01 million. Other notable changes included Independent Franchise Partners LLP, which raised its stake by 14.5%, and Healthcare of Ontario Pension Plan Trust Fund, which significantly increased its stake by 448.4%. Overall, institutional investors control 26.41% of the stock.

Overview of FOX Corporation

Fox Corporation operates as a prominent news, sports, and entertainment entity across the United States. The firm functions through four main segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment focuses on creating and licensing news and sports content for various distribution platforms, including traditional cable systems, satellite operators, and emerging digital platforms.

Investment Considerations

Investors looking to place $1,000 in FOX should evaluate their options carefully. Market analysts track top-performing stocks and assess their potential. Currently, FOX is rated as a "Hold," while other stocks are being recommended for investment. It’s essential to do thorough research before deciding whether to invest in FOX or consider alternative opportunities.

FOX, Stocks, Market