Short Interest in Fox Co. (NASDAQ:FOXA) Expands By 8.5%

Fox Co. (NASDAQ:FOXA) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 18,930,000 shares, an increase of 8.5% from the March 15th total of 17,440,000 shares. Based on an average daily trading volume, of 3,500,000 shares, the days-to-cover ratio is presently 5.4 days. Approximately 8.0% of the shares of the company are sold short.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Seaport Res Ptn upgraded shares of FOX from a “neutral” rating to a “buy” rating in a research report on Friday, April 5th. TheStreet cut FOX from a “b-” rating to a “c” rating in a research report on Wednesday, February 7th. Wolfe Research raised FOX from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Wells Fargo & Company decreased their target price on shares of FOX from $30.00 to $28.00 and set an “underweight” rating on the stock in a research note on Thursday, February 8th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $34.00 price target on shares of FOX in a research note on Monday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, FOX presently has an average rating of “Hold” and a consensus target price of $33.40.

FOX Trading Up 0.1 %

FOXA stock traded up $0.03 during mid-day trading on Wednesday, reaching $30.43. 651,488 shares of the stock traded hands, compared to its average volume of 3,412,936. FOX has a one year low of $28.28 and a one year high of $35.40. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.01 and a current ratio of 2.29. The business has a 50-day moving average price of $30.11 and a two-hundred day moving average price of $30.37. The stock has a market capitalization of $14.45 billion, a PE ratio of 17.99, a PEG ratio of 0.40 and a beta of 0.78.

FOX (NASDAQ:FOXA) last released its earnings results on Wednesday, February 7th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.24. FOX had a return on equity of 15.81% and a net margin of 5.75%. The firm had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter in the prior year, the firm posted $0.48 earnings per share. The company’s quarterly revenue was down 8.1% on a year-over-year basis. Equities research analysts expect that FOX will post 3.28 EPS for the current year.

FOX Dividend Announcement

The business also recently announced a Semi-Annual dividend, which was paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 6th were paid a $0.26 dividend. The ex-dividend date was Tuesday, March 5th. This represents a yield of 1.8%. FOX’s dividend payout ratio is currently 30.77%.

Institutional Trading of FOX

Several institutional investors and hedge funds have recently modified their holdings of the stock. Cornercap Investment Counsel Inc. increased its position in FOX by 0.8% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 41,656 shares of the company’s stock valued at $1,236,000 after purchasing an additional 324 shares during the period. Park Avenue Securities LLC boosted its position in FOX by 1.7% during the 1st quarter. Park Avenue Securities LLC now owns 18,908 shares of the company’s stock valued at $591,000 after acquiring an additional 324 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its holdings in shares of FOX by 3.1% in the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 10,983 shares of the company’s stock valued at $337,000 after acquiring an additional 334 shares during the period. Prudential PLC lifted its stake in shares of FOX by 1.6% during the 3rd quarter. Prudential PLC now owns 23,068 shares of the company’s stock worth $720,000 after purchasing an additional 362 shares during the last quarter. Finally, Empirical Finance LLC boosted its position in FOX by 3.8% during the third quarter. Empirical Finance LLC now owns 10,212 shares of the company’s stock valued at $319,000 after purchasing an additional 372 shares in the last quarter. Institutional investors own 52.52% 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.