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

Fox Co. (NASDAQ:FOX) was the target of a large growth in short interest in September. As of September 15th, there was short interest totalling 3,950,000 shares, a growth of 39.1% from the August 31st total of 2,840,000 shares. Based on an average daily volume of 933,200 shares, the days-to-cover ratio is presently 4.2 days. Currently, 3.0% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Separately, Seaport Res Ptn lowered shares of FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th.

FOX Trading Up 0.4 %

Shares of NASDAQ:FOX traded up $0.17 during midday trading on Friday, reaching $38.84. The company’s stock had a trading volume of 474,800 shares, compared to its average volume of 1,127,004. The business has a 50 day moving average price of $36.84 and a 200 day moving average price of $32.61. FOX has a 1 year low of $25.82 and a 1 year high of $39.09. The firm has a market cap of $18.13 billion, a price-to-earnings ratio of 12.18, a price-to-earnings-growth ratio of 1.97 and a beta of 0.81. The company has a quick ratio of 2.33, a current ratio of 2.54 and a debt-to-equity ratio of 0.61.

FOX (NASDAQ:FOX) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.03. FOX had a net margin of 10.74% and a return on equity of 15.57%. The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same period in the prior year, the firm posted $0.88 EPS. Research analysts forecast that FOX will post 3.59 EPS for the current year.

FOX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were paid a dividend of $0.27 per share. The ex-dividend date was Wednesday, September 4th. This is a boost from FOX’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 2.78%. FOX’s payout ratio is currently 16.93%.

Insider Activity at FOX

In other FOX news, COO John Nallen sold 52,874 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at $9,717,559.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Lachlan K. Murdoch acquired 119,705 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the purchase, the chief executive officer now directly owns 1,076,407 shares in the company, valued at $42,044,457.42. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, COO John Nallen sold 52,874 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the completion of the transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at approximately $9,717,559.04. The disclosure for this sale can be found here. Company insiders own 19.21% of the company’s stock.

Institutional Investors Weigh In On FOX

Institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in shares of FOX by 692.1% in the 2nd quarter. Blue Trust Inc. now owns 1,410 shares of the company’s stock worth $45,000 after purchasing an additional 1,232 shares during the period. Friedenthal Financial purchased a new position in FOX in the second quarter valued at approximately $51,000. V Square Quantitative Management LLC lifted its position in FOX by 20.8% during the fourth quarter. V Square Quantitative Management LLC now owns 3,391 shares of the company’s stock valued at $94,000 after buying an additional 585 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in FOX during the first quarter worth approximately $97,000. Finally, GAMMA Investing LLC increased its position in shares of FOX by 267.9% in the second quarter. GAMMA Investing LLC now owns 3,528 shares of the company’s stock worth $113,000 after acquiring an additional 2,569 shares in the last quarter. Hedge funds and other institutional investors own 26.41% of the company’s stock.

FOX Company Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.