Short Interest in Fox Corporation (NASDAQ:FOX) Drops By 45.2%

Fox Corporation (NASDAQ:FOX) was the target of a significant drop in short interest in February. As of February 13th, there was short interest totaling 11,450,919 shares, a drop of 45.2% from the January 29th total of 20,904,590 shares. Based on an average trading volume of 2,071,371 shares, the short-interest ratio is presently 5.5 days. Currently, 3.5% of the company’s stock are short sold. Currently, 3.5% of the company’s stock are short sold. Based on an average trading volume of 2,071,371 shares, the short-interest ratio is presently 5.5 days.

Analyst Ratings Changes

Several brokerages recently commented on FOX. Wells Fargo & Company cut FOX from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 5th. UBS Group reissued a “buy” rating on shares of FOX in a research report on Friday, October 31st. Bank of America restated an “underperform” rating and set a $45.00 price target (down from $80.00) on shares of FOX in a report on Wednesday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of FOX in a research note on Monday, December 29th. Finally, Guggenheim reiterated a “buy” rating and issued a $85.00 price objective on shares of FOX in a report on Monday, December 22nd. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, FOX presently has an average rating of “Hold” and an average target price of $75.00.

FOX Stock Performance

FOX traded down $0.30 during midday trading on Friday, reaching $51.73. The company’s stock had a trading volume of 2,265,250 shares, compared to its average volume of 1,882,430. The company has a current ratio of 2.78, a quick ratio of 2.44 and a debt-to-equity ratio of 0.60. The company has a fifty day simple moving average of $61.27 and a 200 day simple moving average of $58.03. The stock has a market cap of $22.01 billion, a P/E ratio of 12.44, a PEG ratio of 7.20 and a beta of 0.56. FOX has a twelve month low of $43.18 and a twelve month high of $68.18.

FOX (NASDAQ:FOX) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.31. FOX had a return on equity of 18.14% and a net margin of 11.41%.The company had revenue of $5.18 billion during the quarter, compared to analysts’ expectations of $5.06 billion. Research analysts expect that FOX will post 4.25 earnings per share for the current year.

FOX Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 4th will be issued a dividend of $0.28 per share. The ex-dividend date is Wednesday, March 4th. FOX’s payout ratio is presently 13.46%.

More FOX News

Here are the key news stories impacting FOX this week:

• Positive Sentiment: Recent quarterly results showed an EPS beat and revenue beat, supporting the company’s cash flow and valuation (supports ad and affiliate revenue expectations).
• Positive Sentiment: Extensive coverage of high-profile developments (Bill Clinton/ Epstein deposition) could drive Fox News viewership and ad demand. Bill Clinton deposition coverage
• Positive Sentiment: Heightened geopolitical coverage (US positioning F?22s, Iran tensions) typically lifts ratings for cable news networks during periods of elevated global risk. US positions F-22s in Israel
• Neutral Sentiment: Short-interest data posted for February appears to be erroneous (reports show 0 shares and NaN change) — this looks like a data glitch and provides no clear signal about bearish positioning.
• Neutral Sentiment: Separate media items reference other companies (e.g., “Fox Tungsten” / Happy Creek item) that are unrelated to Fox Corporation and should be disregarded for FOX stock analysis. Fox Tungsten PDAC item (unrelated)
• Negative Sentiment: Technical/headline pressure: FOX is trading below its 50?day (~$61.50) and 200?day (~$58.02) moving averages, which can trigger selling by technical traders.
• Negative Sentiment: Elevated trading volume versus average (intraday volume above its 30?day average) indicates stronger participation in the move lower — could reflect profit-taking or fund rebalancing rather than a fundamental change.

Insider Transactions at FOX

In other FOX news, insider Adam G. Ciongoli sold 29,897 shares of the business’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $69.55, for a total value of $2,079,336.35. Following the transaction, the insider owned 35,978 shares in the company, valued at $2,502,269.90. The trade was a 45.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 23.06% of the company’s stock.

Institutional Investors Weigh In On FOX

A number of institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in FOX by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 3,442,903 shares of the company’s stock valued at $177,024,000 after acquiring an additional 56,071 shares in the last quarter. Marshall Wace LLP increased its position in shares of FOX by 792.4% during the third quarter. Marshall Wace LLP now owns 3,184,642 shares of the company’s stock valued at $182,448,000 after purchasing an additional 2,827,768 shares during the period. Andra AP fonden raised its stake in shares of FOX by 2.7% in the third quarter. Andra AP fonden now owns 1,110,900 shares of the company’s stock valued at $63,643,000 after purchasing an additional 29,200 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of FOX by 1.5% in the fourth quarter. Bank of New York Mellon Corp now owns 666,815 shares of the company’s stock valued at $43,296,000 after purchasing an additional 10,165 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted its position in FOX by 0.4% in the second quarter. Gamco Investors INC. ET AL now owns 624,795 shares of the company’s stock worth $32,258,000 after purchasing an additional 2,212 shares during the period. 26.41% of the stock is owned by institutional investors and hedge funds.

FOX Company Profile

Fox Corporation (NASDAQ:FOX) is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.

FOX’s core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.