Fox Corporation (NASDAQ:FOX) Short Interest Update

by · The Cerbat Gem

Fox Corporation (NASDAQ:FOX – Get Free Report) saw a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 3,970,000 shares, a decline of 32.1% from the September 30th total of 5,850,000 shares. Currently, 2.7% of the shares of the company are sold short. Based on an average daily volume of 1,760,000 shares, the days-to-cover ratio is currently 2.3 days. Based on an average daily volume of 1,760,000 shares, the days-to-cover ratio is currently 2.3 days. Currently, 2.7% of the shares of the company are sold short.

Insider Activity at FOX

In related news, Director Paul D. Ryan sold 17,767 shares of FOX stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $64.36, for a total value of $1,143,484.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 23.06% of the company’s stock.

Hedge Funds Weigh In On FOX

Several hedge funds have recently added to or reduced their stakes in FOX. Wealth Enhancement Advisory Services LLC grew its holdings in FOX by 24.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,449 shares of the company’s stock valued at $287,000 after purchasing an additional 1,060 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in FOX by 9.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,483 shares of the company’s stock valued at $883,000 after buying an additional 1,528 shares during the period. New York State Teachers Retirement System boosted its position in FOX by 3.0% in the 1st quarter. New York State Teachers Retirement System now owns 179,877 shares of the company’s stock valued at $9,481,000 after buying an additional 5,317 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in FOX by 82.7% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,355 shares of the company’s stock valued at $1,126,000 after buying an additional 9,669 shares during the period. Finally, Teacher Retirement System of Texas purchased a new stake in FOX in the 1st quarter valued at about $1,089,000. 26.41% of the stock is currently owned by institutional investors.

FOX Price Performance

Shares of FOX stock traded up $0.83 during trading hours on Tuesday, reaching $58.15. The company’s stock had a trading volume of 1,095,635 shares, compared to its average volume of 1,400,762. The firm has a 50 day moving average price of $54.26 and a 200-day moving average price of $51.66. FOX has a one year low of $39.71 and a one year high of $59.99. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.24 and a quick ratio of 3.03. The stock has a market cap of $25.91 billion, a P/E ratio of 13.07, a P/E/G ratio of 1.38 and a beta of 0.57.

FOX (NASDAQ:FOX – Get Free Report) last posted its earnings results on Thursday, October 30th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.45. FOX had a net margin of 12.35% and a return on equity of 18.61%. The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.57 billion. On average, analysts predict that FOX will post 4.25 EPS for the current year.

Wall Street Analyst Weigh In

FOX has been the topic of several recent research reports. UBS Group restated a “buy” rating on shares of FOX in a research report on Friday. Cfra restated a “buy” rating and set a $73.00 target price on shares of FOX in a research report on Monday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of FOX in a report on Friday. Zacks Research raised shares of FOX from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 7th. Finally, Fox Advisors set a $97.00 price target on shares of FOX in a report on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $81.67.

Read Our Latest Analysis on FOX

About FOX

(Get Free Report)

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.

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