Fox Co. (NASDAQ:FOXA) Short Interest Update

Fox Co. (NASDAQ:FOXA) was the target of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 21,510,000 shares, a drop of 6.6% from the October 15th total of 23,040,000 shares. Approximately 9.8% of the shares of the company are short sold. Based on an average daily trading volume, of 2,920,000 shares, the short-interest ratio is currently 7.4 days.

FOX Stock Down 0.6 %

Shares of FOX stock opened at $45.38 on Tuesday. The firm’s 50 day moving average price is $42.33 and its 200-day moving average price is $38.33. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. The company has a market cap of $20.73 billion, a P/E ratio of 11.10, a PEG ratio of 1.17 and a beta of 0.76. FOX has a 52-week low of $28.28 and a 52-week high of $47.58.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.12 by $0.33. The firm had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.38 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.09 earnings per share. On average, sell-side analysts predict that FOX will post 3.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on FOXA shares. Loop Capital upped their price target on FOX from $43.00 to $46.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. boosted their target price on FOX from $41.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Evercore ISI raised shares of FOX to a “hold” rating in a report on Tuesday, November 5th. Cfra reaffirmed a “sell” rating on shares of FOX in a report on Wednesday, September 25th. Finally, Rosenblatt Securities raised their target price on FOX from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $44.00.

Insider Activity at FOX

In other news, Chairman Keith Rupert Murdoch sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total value of $4,205,000.00. Following the completion of the transaction, the chairman now owns 1,258,862 shares in the company, valued at $52,935,147.10. This represents a 7.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John Nallen sold 182,481 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total value of $7,979,894.13. Following the completion of the sale, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. The trade was a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.77% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On FOX

A number of large investors have recently made changes to their positions in FOXA. Toronto Dominion Bank raised its stake in shares of FOX by 11.8% in the 3rd quarter. Toronto Dominion Bank now owns 76,077 shares of the company’s stock valued at $3,220,000 after acquiring an additional 8,040 shares during the period. Prestige Wealth Management Group LLC increased its holdings in shares of FOX by 14.7% in the third quarter. Prestige Wealth Management Group LLC now owns 4,445 shares of the company’s stock valued at $188,000 after buying an additional 569 shares in the last quarter. M&T Bank Corp grew its position in FOX by 7.4% during the 3rd quarter. M&T Bank Corp now owns 14,645 shares of the company’s stock worth $620,000 after purchasing an additional 1,010 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in FOX by 0.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 69,082 shares of the company’s stock worth $2,924,000 after buying an additional 590 shares in the last quarter. Finally, iA Global Asset Management Inc. boosted its holdings in FOX by 241,314.3% in the third quarter. iA Global Asset Management Inc. now owns 16,899 shares of the company’s stock worth $715,000 after purchasing an additional 16,892 shares in the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses news and sports content for distribution through traditional cable television systems, direct broadcast satellite operators and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S.