Fox Co. (NASDAQ:FOX) Sees Significant Decline in Short Interest

Fox Co. (NASDAQ:FOX) saw a significant decrease in short interest during the month of 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. Based on an average daily volume of 1,050,000 shares, the days-to-cover ratio is currently 2.8 days. Approximately 2.2% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at FOX

In related news, COO John Nallen sold 182,481 shares of the firm’s stock in a transaction 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 sale, the chief operating officer now owns 249,424 shares in the company, valued at approximately $10,907,311.52. This trade represents a 42.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the completion of the transaction, the chairman now owns 1,258,862 shares of the company’s stock, valued at approximately $52,935,147.10. This trade represents a 7.36 % decrease in their position. The disclosure for this sale can be found here. Over 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 insiders.

Hedge Funds Weigh In On FOX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FOX. State Street Corp raised its stake in FOX by 7.5% in 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 last quarter. Independent Franchise Partners LLP grew its holdings in shares of FOX by 14.5% during the second quarter. Independent Franchise Partners LLP now owns 5,023,830 shares of the company’s stock worth $160,863,000 after buying an additional 636,247 shares in the last quarter. Geode Capital Management LLC raised its position in shares of FOX by 3.1% in the third quarter. Geode Capital Management LLC now owns 3,109,955 shares of the company’s stock valued at $120,299,000 after buying an additional 92,515 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of FOX by 58.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,970,917 shares of the company’s stock worth $135,890,000 after buying an additional 1,095,073 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in FOX by 13.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,326,267 shares of the company’s stock worth $74,483,000 after acquiring an additional 272,743 shares during the last quarter. 26.41% of the stock is owned by hedge funds and other institutional investors.

FOX Trading Down 0.6 %

Shares of NASDAQ:FOX opened at $45.66 on Friday. The business’s 50 day moving average price is $45.13 and its 200-day moving average price is $39.88. FOX has a 1 year low of $25.82 and a 1 year high of $47.80. The firm has a market capitalization of $20.85 billion, a price-to-earnings 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 current ratio of 2.59 and a quick ratio of 2.33.

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.