Fox Co. (NASDAQ:FOXA) Short Interest Update

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

Insider Buying and Selling

In other news, COO John Nallen sold 182,481 shares of FOX 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 transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at $10,907,311.52. This trade represents a 42.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of FOX stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the completion of the transaction, the chairman now directly owns 1,258,862 shares in the company, valued at approximately $52,935,147.10. This trade represents a 7.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

Institutional Trading of FOX

Institutional investors and hedge funds have recently modified their holdings of the company. Massmutual Trust Co. FSB ADV lifted its stake in shares of FOX by 176.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after buying an additional 461 shares during the last quarter. Quest Partners LLC acquired a new position in FOX during the 3rd quarter valued at $51,000. Friedenthal Financial acquired a new position in FOX during the 2nd quarter valued at $51,000. Duncker Streett & Co. Inc. acquired a new position in FOX during the 2nd quarter valued at $52,000. Finally, Quarry LP acquired a new position in FOX during the 3rd quarter valued at $70,000. 52.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Morgan Stanley lifted their target price on shares of FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. StockNews.com raised shares of FOX from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Loop Capital boosted their price objective on shares of FOX from $43.00 to $46.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Macquarie reaffirmed a “neutral” rating and set a $43.00 price objective on shares of FOX in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of FOX from $41.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $44.00.

FOX Price Performance

Shares of FOX stock opened at $46.00 on Monday. The firm has a fifty day simple moving average of $42.23 and a 200-day simple moving average of $38.24. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. FOX has a 1-year low of $28.28 and a 1-year high of $47.58. The stock has a market capitalization of $21.17 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 1.17 and a beta of 0.76.

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

FOX Company Profile

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.