Fox Co. (NASDAQ:FOX) Short Interest Update

Fox Co. (NASDAQ:FOX) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 3,300,000 shares, a growth of 6.8% from the October 15th total of 3,090,000 shares. Currently, 2.5% of the shares of the stock are sold short. Based on an average trading volume of 867,500 shares, the days-to-cover ratio is presently 3.8 days.

FOX Price Performance

Shares of NASDAQ FOX traded down $0.01 during midday trading on Tuesday, hitting $42.74. The stock had a trading volume of 440,020 shares, compared to its average volume of 1,079,569. FOX has a 1 year low of $25.82 and a 1 year high of $44.42. The company has a market capitalization of $19.52 billion, a PE ratio of 10.37, a P/E/G ratio of 1.64 and a beta of 0.81. The stock has a 50 day simple moving average of $39.12 and a 200-day simple moving average of $35.55. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58.

Analysts Set New Price Targets

FOX has been the subject of a number of analyst reports. Barclays upgraded FOX to a “hold” rating in a research note on Wednesday, October 9th. Seaport Res Ptn downgraded shares of FOX from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th.

Insider Activity

In related news, COO John Nallen sold 182,481 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total value of $7,979,894.13. Following the transaction, the chief operating officer now owns 249,424 shares in the company, valued at $10,907,311.52. The trade was a 42.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the company’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 sale, the chairman now directly 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 disclosure for this sale can be found here. 23.06% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. raised its stake in FOX by 0.6% during the third quarter. Victory Capital Management Inc. now owns 46,645 shares of the company’s stock worth $1,810,000 after purchasing an additional 300 shares during the period. Royal London Asset Management Ltd. increased its position in FOX by 0.7% during the second quarter. Royal London Asset Management Ltd. now owns 52,054 shares of the company’s stock worth $1,667,000 after buying an additional 367 shares during the period. MBB Public Markets I LLC raised its holdings in FOX by 4.4% during the second quarter. MBB Public Markets I LLC now owns 10,516 shares of the company’s stock worth $337,000 after purchasing an additional 440 shares in the last quarter. Glenmede Trust Co. NA raised its position in FOX by 136.9% in the third quarter. Glenmede Trust Co. NA now owns 777 shares of the company’s stock worth $30,000 after acquiring an additional 449 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in FOX by 4.4% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,742 shares of the company’s stock worth $417,000 after purchasing an additional 457 shares in the last quarter. 26.41% of the stock is currently owned by institutional investors and hedge funds.

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.