Fox Co. (NASDAQ:FOX) Sees Large Decrease in Short Interest

Fox Co. (NASDAQ:FOX) was the recipient of a significant decrease in short interest in December. As of December 31st, there was short interest totalling 2,900,000 shares, a decrease of 5.8% from the December 15th total of 3,080,000 shares. Approximately 2.2% of the shares of the company are sold short. Based on an average daily volume of 1,050,000 shares, the short-interest ratio is currently 2.8 days.

FOX Stock Down 0.6 %

Shares of FOX stock traded down $0.28 during trading hours on Friday, reaching $45.66. The company had a trading volume of 816,999 shares, compared to its average volume of 881,128. The company has a market capitalization of $20.85 billion, a P/E ratio of 11.16, a price-to-earnings-growth ratio of 1.66 and a beta of 0.81. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. FOX has a twelve month low of $25.82 and a twelve month high of $47.80. The stock’s fifty day simple moving average is $45.13 and its 200 day simple moving average is $39.88.

Insider Buying and Selling

In other news, COO John Nallen sold 182,481 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the sale, the chief operating officer now owns 249,424 shares of the company’s stock, valued at $10,907,311.52. The trade was a 42.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 771,024 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was 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. Insiders sold 1,053,505 shares of company stock valued at $47,705,970 over the last ninety days. Corporate insiders own 23.06% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC lifted its position in shares of FOX by 15.2% during the third quarter. Janus Henderson Group PLC now owns 1,716,165 shares of the company’s stock worth $66,582,000 after purchasing an additional 226,867 shares during the last quarter. Summit Global Investments bought a new position in FOX during the 3rd quarter worth approximately $768,000. Independent Franchise Partners LLP grew its position in shares of FOX by 14.5% in the 2nd quarter. Independent Franchise Partners LLP now owns 5,023,830 shares of the company’s stock worth $160,863,000 after acquiring an additional 636,247 shares in the last quarter. Barclays PLC grew its position in shares of FOX by 3.6% in the 3rd quarter. Barclays PLC now owns 540,789 shares of the company’s stock worth $20,982,000 after acquiring an additional 18,802 shares in the last quarter. Finally, Regal Partners Ltd increased its holdings in shares of FOX by 30.3% in the 3rd quarter. Regal Partners Ltd now owns 667,049 shares of the company’s stock valued at $25,882,000 after acquiring an additional 154,924 shares during the last quarter. Hedge funds and other institutional investors own 26.41% of the company’s stock.

Analysts Set New Price Targets

Separately, Barclays upgraded FOX to a “hold” rating in a report on Wednesday, October 9th.

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.