Short Interest in Fox Co. (NASDAQ:FOX) Drops By 6.7%

Fox Co. (NASDAQ:FOX) was the target of a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 3,080,000 shares, a decrease of 6.7% from the October 31st total of 3,300,000 shares. Currently, 2.3% of the company’s stock are short sold. Based on an average daily trading volume, of 1,020,000 shares, the days-to-cover ratio is currently 3.0 days.

Insider Buying and Selling

In other FOX news, COO John Nallen sold 182,481 shares of FOX stock in a transaction that occurred 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 transaction, the chief operating officer now owns 249,424 shares of the company’s stock, valued at $10,907,311.52. This trade represents a 42.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Keith Rupert Murdoch sold 771,024 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $46.07, for a total value of $35,521,075.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,053,505 shares of company stock valued at $47,705,970. 23.06% of the stock is owned by company insiders.

Hedge Funds Weigh In On FOX

A number of institutional investors have recently added to or reduced their stakes in FOX. State Street Corp grew its stake in shares of FOX by 7.5% during the 3rd quarter. State Street Corp now owns 9,639,382 shares of the company’s stock valued at $374,008,000 after purchasing an additional 671,511 shares during the period. Independent Franchise Partners LLP lifted its position in FOX by 14.5% during the second quarter. Independent Franchise Partners LLP now owns 5,023,830 shares of the company’s stock valued at $160,863,000 after purchasing an additional 636,247 shares in the last quarter. Geode Capital Management LLC grew its holdings in FOX by 3.1% during the third quarter. Geode Capital Management LLC now owns 3,109,955 shares of the company’s stock valued at $120,299,000 after purchasing an additional 92,515 shares during the period. Dimensional Fund Advisors LP increased its position in FOX by 13.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,326,267 shares of the company’s stock worth $74,483,000 after buying an additional 272,743 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of FOX during the 2nd quarter valued at approximately $65,709,000. Institutional investors own 26.41% of the company’s stock.

Wall Street Analysts Forecast Growth

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

FOX Trading Down 0.8 %

FOX stock traded down $0.36 during trading hours on Tuesday, reaching $44.05. The company had a trading volume of 1,378,193 shares, compared to its average volume of 1,100,386. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33. FOX has a 12-month low of $25.82 and a 12-month high of $44.89. The firm has a market cap of $20.12 billion, a price-to-earnings ratio of 10.77, a P/E/G ratio of 1.70 and a beta of 0.83. The company has a 50-day moving average price of $40.62 and a 200 day moving average price of $36.61.

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.