Fox Co. (NASDAQ:FOXA) Short Interest Update

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

FOX Stock Performance

FOX stock opened at $46.00 on Monday. 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 company has a market cap of $21.17 billion, a PE ratio of 11.16, a PEG ratio of 1.17 and a beta of 0.76. The company’s 50-day moving average is $42.23 and its two-hundred day moving average is $38.24.

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

Insider Activity at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 100,000 shares of the business’s stock in a transaction 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 sale, the chairman now owns 1,258,862 shares of the company’s stock, valued at $52,935,147.10. The trade was a 7.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO John Nallen sold 182,481 shares of the business’s 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 directly owns 249,424 shares in the company, valued at $10,907,311.52. This trade represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 21.77% of the company’s stock.

Institutional Trading of FOX

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

Analyst Ratings Changes

Several brokerages have issued reports on FOXA. Morgan Stanley boosted their price target on shares of FOX from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. StockNews.com raised shares of FOX from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Rosenblatt Securities upped their target price on shares of FOX from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft upped their target price on shares of FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, TD Cowen upped their target price on shares of FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $44.00.

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.