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

Fox Co. (NASDAQ:FOX) hit a new 52-week high on Friday, with its stock reaching $44.79 before settling at $44.76. During the trading session, 168,714 shares changed hands, which is an increase from its previous close of $44.36.

Analysts Set New Price Targets

Several brokerages have recently released reports about FOX. Seaport Res Ptn downgraded FOX from a "strong-buy" to a "hold" rating on September 9th. Meanwhile, Barclays upgraded the stock to a "hold" rating on October 9th.

FOX Stock Performance

The stock has shown promising performance, with 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. In terms of liquidity, the company has a quick ratio of 2.33 and a current ratio of 2.59, indicating solid short-term financial strength. The debt-to-equity ratio stands at 0.58, suggesting a balanced approach to leveraging.

Insider Activity

Recent insider trading activity showed that Chairman Keith Rupert Murdoch sold 100,000 shares on November 6th at an average price of $42.05, totaling approximately $4.2 million. After the sale, he holds 1,258,862 shares valued at about $52.94 million. Additionally, COO John Nallen sold 182,481 shares on November 5th at an average price of $43.73, bringing in nearly $8 million. Nallen now directly owns 249,424 shares worth around $10.91 million. Over the last three months, insiders have sold a total of 1,053,505 shares valued at $47.71 million, with company insiders controlling 23.06% of the stock.

Institutional Trading of FOX

Institutional investors have been active in trading FOX stock. Assenagon Asset Management recently acquired a new stake valued at about $65.71 million. Similarly, National Bank of Canada FI increased its stake by 212.7% during the third quarter, now owning 1,437,637 shares valued at approximately $55.78 million. State Street Corp also raised its holdings by 7.5%, holding 9,639,382 shares worth $374 million. Other institutional shareholders have included Independent Franchise Partners LLP and Healthcare of Ontario Pension Plan Trust Fund, which have also increased their stakes significantly. Collectively, institutional investors hold about 26.41% of FOX stock.

About FOX

Fox Corporation operates as a notable entity in the news, sports, and entertainment sectors in the United States. Its business is divided into four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment specifically focuses on producing and licensing news and sports content for various delivery methods, including traditional cable systems and digital platforms.

Should You Invest in FOX?

As FOX currently holds a "Hold" rating among analysts, potential investors should consider alternatives. Research from top analysts highlights five stock picks they recommend over FOX. It may be wise to evaluate these options before deciding to invest.

FOX, Stocks, Investment