Fox Co. (NASDAQ:FOXA) Short Interest Down 6.6% in October

Fox Co. (NASDAQ:FOXA) was the recipient of a significant 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 trading volume of 2,920,000 shares, the short-interest ratio is currently 7.4 days. Approximately 9.8% of the company’s shares are short sold.

Insider Activity at FOX

In related news, Chairman Keith Rupert Murdoch sold 100,000 shares of FOX stock in a transaction that occurred 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 completion of the sale, the chairman now owns 1,258,862 shares in the company, valued at approximately $52,935,147.10. This trade represents a 7.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO John Nallen sold 182,481 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was 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 of the company’s stock, valued at approximately $10,907,311.52. This represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by insiders.

Institutional Investors Weigh In On FOX

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. The Goldman Sachs Group lifted their target price on FOX from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Morgan Stanley upped their target price on shares of FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Seaport Res Ptn cut shares of FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. Wells Fargo & Company upped their price objective on FOX from $46.00 to $49.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Guggenheim increased their price objective on FOX from $45.00 to $50.00 and gave the company a “buy” rating in a research note 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.com, the company presently has an average rating of “Hold” and a consensus price target of $44.00.

FOX Price Performance

Shares of FOXA opened at $45.76 on Wednesday. The firm has a fifty day moving average price of $42.45 and a 200 day moving average price of $38.43. The stock has a market cap of $20.90 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 1.17 and a beta of 0.76. FOX has a 1-year low of $28.28 and a 1-year high of $47.58. 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 (NASDAQ:FOXA) last posted its earnings results on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.33. The business had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.38 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.09 EPS. As a group, sell-side analysts anticipate that FOX will post 3.94 EPS for the current 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.