Fox Co. (NASDAQ:FOXA) Short Interest Update

Fox Co. (NASDAQ:FOXA) was the recipient of a significant drop in short interest in December. As of December 31st, there was short interest totalling 23,820,000 shares, a drop of 6.7% from the December 15th total of 25,540,000 shares. Approximately 10.9% of the shares of the stock are sold short. Based on an average daily volume of 3,370,000 shares, the days-to-cover ratio is currently 7.1 days.

FOX Trading Down 0.7 %

Shares of FOXA traded down $0.32 during mid-day trading on Friday, reaching $48.00. 3,970,549 shares of the company’s stock traded hands, compared to its average volume of 2,980,282. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33. The stock’s 50-day moving average is $47.72 and its two-hundred day moving average is $42.69. FOX has a 12 month low of $28.28 and a 12 month high of $50.63. The stock has a market cap of $21.92 billion, a P/E ratio of 11.74, a P/E/G ratio of 1.19 and a beta of 0.75.

FOX (NASDAQ:FOXA) last released its earnings results 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. The business had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.38 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.09 earnings per share. Research analysts forecast that FOX will post 4.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Keith Rupert Murdoch sold 186,871 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $46.22, for a total transaction of $8,637,177.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO John Nallen sold 182,481 shares of FOX stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the completion of the sale, the chief operating officer now owns 249,424 shares in the company, valued at approximately $10,907,311.52. This represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 469,352 shares of company stock worth $20,822,072. 21.77% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On FOX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FOXA. Commonwealth Equity Services LLC raised its stake in shares of FOX by 42.0% during the second quarter. Commonwealth Equity Services LLC now owns 11,346 shares of the company’s stock valued at $390,000 after acquiring an additional 3,357 shares in the last quarter. Acadian Asset Management LLC raised its position in FOX by 580.0% during the 2nd quarter. Acadian Asset Management LLC now owns 6,236 shares of the company’s stock valued at $213,000 after purchasing an additional 5,319 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of FOX by 11.2% in the 2nd quarter. American Century Companies Inc. now owns 323,954 shares of the company’s stock worth $11,134,000 after buying an additional 32,684 shares during the period. Dimensional Fund Advisors LP grew its position in shares of FOX by 7.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,758,734 shares of the company’s stock worth $129,180,000 after buying an additional 268,778 shares in the last quarter. Finally, Amalgamated Bank increased its stake in shares of FOX by 7.2% during the second quarter. Amalgamated Bank now owns 72,028 shares of the company’s stock valued at $2,476,000 after buying an additional 4,832 shares during the period. Institutional investors own 52.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FOXA. Citigroup raised their price target on FOX from $50.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Cfra reissued a “sell” rating on shares of FOX in a report on Wednesday, September 25th. Evercore ISI raised shares of FOX to a “hold” rating in a research note on Tuesday, November 5th. Guggenheim lifted their price objective on shares of FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Loop Capital boosted their target price on shares of FOX from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $48.00.

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.