FOX Sees Unusually Large Options Volume (NASDAQ:FOXA)

Fox Corporation (NASDAQ:FOXA) was the recipient of unusually large options trading activity on Tuesday. Investors bought 3,008 put options on the stock. This represents an increase of approximately 306% compared to the average volume of 740 put options.

Analyst Ratings Changes

FOXA has been the topic of several recent analyst reports. TD Cowen lifted their price target on FOX from $55.00 to $65.00 and gave the stock a “hold” rating in a research report on Thursday, February 5th. Weiss Ratings reissued a “buy (b)” rating on shares of FOX in a research report on Monday, December 29th. Morgan Stanley boosted their target price on shares of FOX from $74.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 5th. Citigroup upped their target price on shares of FOX from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Finally, Zacks Research downgraded shares of FOX from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 5th. Seven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $71.80.

Key Stories Impacting FOX

Here are the key news stories impacting FOX this week:

• Positive Sentiment: Tubi (FOX’s free streaming arm) unveiled new ad formats, strategic measurement/partnership deals (Amazon, InMarket, Kochava), Originals and a FOX Hub for the FIFA World Cup — moves that should support ad revenue growth and monetization of streaming viewership. TUBI TURNS PASSION INTO PERFORMANCE AT IAB NEWFRONT
• Positive Sentiment: Tubi CEO media interview highlights content-led strategy that aims to increase engagement and ad effectiveness — supports the narrative that Fox can grow digital ad revenue beyond linear TV. Tubi CEO talks streamer’s content is redefining ‘entertainment’
• Positive Sentiment: Analysts remain bullish on communication-services names including Meta and Fox, which could provide incremental buy-side support and a baseline for investor expectations. Analysts Are Bullish on These Communication Services Stocks
• Neutral Sentiment: A market note discussed whether FOXA’s current pricing reflects shifting media trends and recent share moves — useful framing for valuation debates but not a discrete catalyst. Is Fox (FOXA) Pricing Reflect Shifting Media Trends And Recent Share Performance Moves
• Neutral Sentiment: Multiple short-interest reports posted for March show anomalous/zero values and NaN changes across data feeds — data appears unreliable and should be treated cautiously rather than read as a true rise in shorting activity.
• Negative Sentiment: Unusual options activity: a large spike in put buying (about 3,008 puts, ~306% above average) signals increased near-term bearish bets or hedging, which can pressure the stock and increase volatility.

FOX Stock Down 0.5%

Shares of NASDAQ:FOXA opened at $58.49 on Thursday. The company’s fifty day moving average is $62.29 and its 200-day moving average is $64.34. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.44 and a current ratio of 2.78. FOX has a 52 week low of $46.42 and a 52 week high of $76.39. The company has a market capitalization of $24.88 billion, a PE ratio of 14.06, a P/E/G ratio of 7.23 and a beta of 0.55.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Wednesday, February 4th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.35. The firm had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.02 billion. FOX had a net margin of 11.41% and a return on equity of 18.14%. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the firm posted $0.96 EPS. Equities research analysts predict that FOX will post 4.38 earnings per share for the current fiscal year.

FOX Dividend Announcement

The company also recently announced a dividend, which was paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 4th were paid a $0.28 dividend. The ex-dividend date was Wednesday, March 4th. This represents a dividend yield of 83.0%. FOX’s payout ratio is 13.46%.

Insider Buying and Selling at FOX

In other news, COO John Nallen sold 242,309 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $57.74, for a total value of $13,990,921.66. Following the sale, the chief operating officer directly owned 357,653 shares of the company’s stock, valued at approximately $20,650,884.22. This trade represents a 40.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Lachlan K. Murdoch sold 637,752 shares of FOX stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $58.20, for a total value of $37,117,166.40. Following the completion of the transaction, the chief executive officer owned 152 shares in the company, valued at $8,846.40. The trade was a 99.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,586,871 shares of company stock worth $91,893,926 in the last quarter. Insiders own 19.68% of the company’s stock.

Institutional Investors Weigh In On FOX

A number of large investors have recently bought and sold shares of FOXA. Private Trust Co. NA lifted its stake in shares of FOX by 35.6% during the fourth quarter. Private Trust Co. NA now owns 712 shares of the company’s stock valued at $52,000 after acquiring an additional 187 shares during the period. Parallel Advisors LLC raised its holdings in FOX by 9.2% during the 3rd quarter. Parallel Advisors LLC now owns 2,532 shares of the company’s stock worth $160,000 after purchasing an additional 214 shares during the last quarter. Greenleaf Trust lifted its position in FOX by 3.8% during the 3rd quarter. Greenleaf Trust now owns 6,198 shares of the company’s stock valued at $391,000 after purchasing an additional 225 shares during the period. Brown Brothers Harriman & Co. lifted its position in FOX by 27.5% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,062 shares of the company’s stock valued at $67,000 after purchasing an additional 229 shares during the period. Finally, Venturi Wealth Management LLC boosted its stake in shares of FOX by 3.5% in the 4th quarter. Venturi Wealth Management LLC now owns 6,916 shares of the company’s stock valued at $505,000 after purchasing an additional 232 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors.

About FOX

Fox Corporation (NASDAQ: FOXA) is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp’s operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.