Fox Co. (NASDAQ:FOXA) Sees Large Increase in Short Interest

Fox Co. (NASDAQ:FOXA) was the target of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 25,540,000 shares, a growth of 10.0% from the November 30th total of 23,210,000 shares. Approximately 11.7% of the shares of the company are short sold. Based on an average daily volume of 3,440,000 shares, the short-interest ratio is presently 7.4 days.

Insider Buying and Selling

In other news, Chairman Keith Rupert Murdoch sold 100,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the transaction, the chairman now owns 1,258,862 shares in the company, valued at approximately $52,935,147.10. The trade was a 7.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO John Nallen sold 182,481 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $10,907,311.52. The trade was a 42.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 469,352 shares of company stock valued at $20,822,072. Insiders own 21.77% of the company’s stock.

Hedge Funds Weigh In On FOX

Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in FOX by 10.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,125,648 shares of the company’s stock worth $47,649,000 after purchasing an additional 110,753 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of FOX by 0.4% during the third quarter. Principal Financial Group Inc. now owns 291,051 shares of the company’s stock worth $12,320,000 after buying an additional 1,178 shares during the last quarter. Franklin Resources Inc. lifted its holdings in FOX by 108.4% in the third quarter. Franklin Resources Inc. now owns 177,342 shares of the company’s stock valued at $7,369,000 after buying an additional 92,244 shares during the period. Tidal Investments LLC boosted its stake in FOX by 24.6% in the third quarter. Tidal Investments LLC now owns 33,672 shares of the company’s stock valued at $1,425,000 after acquiring an additional 6,658 shares during the last quarter. Finally, World Investment Advisors LLC acquired a new stake in FOX during the 3rd quarter worth $3,587,000. Institutional investors and hedge funds own 52.52% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on FOXA shares. UBS Group lifted their price objective on FOX from $44.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Cfra reissued a “sell” rating on shares of FOX in a report on Wednesday, September 25th. TD Cowen increased their price objective on shares of FOX from $36.00 to $42.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of FOX from $42.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, The Goldman Sachs Group increased their price target on shares of FOX from $51.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $46.87.

FOX Stock Down 0.5 %

Shares of NASDAQ:FOXA opened at $48.58 on Thursday. 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 firm has a market cap of $22.19 billion, a P/E ratio of 11.88, a P/E/G ratio of 1.18 and a beta of 0.77. FOX has a 12 month low of $28.28 and a 12 month high of $50.63. The company’s 50-day moving average price is $46.31 and its two-hundred day moving average price is $41.47.

FOX (NASDAQ:FOXA) last released 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. FOX had a net margin of 13.40% and a return on equity of 16.49%. The business had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same period in the prior year, the firm earned $1.09 earnings per share. FOX’s revenue was up 11.1% compared to the same quarter last year. As a group, research analysts forecast that FOX will post 3.94 EPS for the current fiscal 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.