Insider Selling: Fox Corp (NASDAQ:FOX) Chairman Sells 600,000 Shares of Stock

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Fox Corp (NASDAQ:FOX) Chairman Keith Rupert Murdoch sold 600,000 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $34.04, for a total value of $20,424,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Keith Rupert Murdoch also recently made the following trade(s):

  • On Friday, June 7th, Keith Rupert Murdoch acquired 600,000 shares of FOX stock. The stock was purchased at an average cost of $34.27 per share, for a total transaction of $20,562,000.00.

FOX stock opened at $33.83 on Wednesday. Fox Corp has a 52 week low of $33.32 and a 52 week high of $41.73. The company has a debt-to-equity ratio of 0.78, a quick ratio of 3.77 and a current ratio of 4.60.

FOX (NASDAQ:FOX) last posted its earnings results on Wednesday, May 8th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.66 by $0.10. The company had revenue of $2.75 billion for the quarter. On average, research analysts expect that Fox Corp will post 2.6 earnings per share for the current fiscal year.

The business also recently announced a Semi-Annual dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were issued a dividend of $0.23 per share. This is a positive change from FOX’s previous Semi-Annual dividend of $0.18. The ex-dividend date was Friday, May 17th.

A number of brokerages have recently weighed in on FOX. BidaskClub raised FOX from a “hold” rating to a “buy” rating in a report on Saturday, March 9th. Royal Bank of Canada reissued a “sell” rating and issued a $41.00 price objective on shares of FOX in a report on Monday, March 25th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised FOX from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a report on Tuesday, May 28th.

A number of institutional investors have recently bought and sold shares of FOX. Financial Gravity Companies Inc. acquired a new stake in FOX during the fourth quarter worth about $25,000. Global Retirement Partners LLC acquired a new stake in FOX during the fourth quarter worth about $32,000. Lindbrook Capital LLC acquired a new stake in FOX during the fourth quarter worth about $32,000. Laurel Wealth Advisors LLC acquired a new stake in FOX during the fourth quarter worth about $39,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in FOX during the fourth quarter worth about $55,000. 22.14% of the stock is currently owned by hedge funds and other institutional investors.

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About FOX

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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