FOX (NASDAQ:FOX) Upgraded by Zacks Investment Research to Hold

FOX (NASDAQ:FOX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

According to Zacks, “Fox Corporation produces and distributes news, sports and entertainment content. The company’s brand includes FOX News, FOX Sports, the FOX Network, the FOX Television Stations and sports cable networks FS1, FS2, Fox Deportes and Big Ten Network. Fox Corporation is based in New York, United States. “

Several other equities analysts have also recently issued reports on FOX. BidaskClub upgraded FOX from a “sell” rating to a “hold” rating in a research report on Thursday, June 20th. Goldman Sachs Group assumed coverage on FOX in a research report on Wednesday, June 26th. They issued a “buy” rating and a $46.00 price target on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. FOX has a consensus rating of “Hold” and a consensus target price of $42.67.

Shares of FOX traded down $1.37 during midday trading on Wednesday, reaching $33.63. 836,237 shares of the stock were exchanged, compared to its average volume of 1,988,743. The firm has a 50-day simple moving average of $36.37. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.78 and a quick ratio of 3.12. FOX has a twelve month low of $33.32 and a twelve month high of $41.73. The stock has a market cap of $21.48 billion and a P/E ratio of 12.79.

In other FOX news, Director Roland A. Hernandez acquired 3,000 shares of the stock in a transaction on Monday, August 12th. The shares were bought at an average price of $34.91 per share, with a total value of $104,730.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Keith Rupert Murdoch acquired 600,000 shares of the stock in a transaction on Friday, June 7th. The stock was acquired at an average cost of $34.27 per share, for a total transaction of $20,562,000.00. The disclosure for this purchase can be found here. Insiders purchased a total of 1,203,000 shares of company stock worth $41,840,730 in the last 90 days.

An institutional investor recently raised its position in FOX stock. Dimensional Fund Advisors LP lifted its position in shares of Fox Corp (NASDAQ:FOX) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,087,056 shares of the company’s stock after purchasing an additional 7,806 shares during the period. Dimensional Fund Advisors LP owned about 0.11% of FOX worth $99,720,000 at the end of the most recent reporting period. 22.52% of the stock is currently owned by institutional investors and hedge funds.

FOX Company Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States. The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business news, and sports content for distribution primarily through cable television systems, direct broadcast satellite operators, telecommunications companies, and online video distributors.

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