Fox Co. (NASDAQ:FOX) Short Interest Down 8.6% in September

Fox Co. (NASDAQ:FOX) was the target of a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 3,610,000 shares, a decline of 8.6% from the September 15th total of 3,950,000 shares. Approximately 2.7% of the company’s shares are short sold. Based on an average daily trading volume, of 896,500 shares, the short-interest ratio is presently 4.0 days.

Insider Buying and Selling at FOX

In other FOX news, COO John Nallen sold 52,874 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the sale, the chief operating officer now owns 249,424 shares of the company’s stock, valued at approximately $9,717,559.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Lachlan K. Murdoch bought 119,705 shares of FOX stock in a transaction on Thursday, August 15th. The stock was acquired at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the acquisition, the chief executive officer now directly owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO John Nallen sold 52,874 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the completion of the sale, the chief operating officer now owns 249,424 shares of the company’s stock, valued at approximately $9,717,559.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 19.21% of the company’s stock.

Institutional Investors Weigh In On FOX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in shares of FOX by 692.1% in the 2nd quarter. Blue Trust Inc. now owns 1,410 shares of the company’s stock worth $45,000 after buying an additional 1,232 shares in the last quarter. Friedenthal Financial bought a new position in shares of FOX during the 2nd quarter valued at about $51,000. V Square Quantitative Management LLC increased its holdings in shares of FOX by 20.8% in the fourth quarter. V Square Quantitative Management LLC now owns 3,391 shares of the company’s stock valued at $94,000 after buying an additional 585 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of FOX in the 1st quarter valued at $97,000. Finally, GAMMA Investing LLC increased its position in shares of FOX by 267.9% in the second quarter. GAMMA Investing LLC now owns 3,528 shares of the company’s stock worth $113,000 after acquiring an additional 2,569 shares in the last quarter. Institutional investors own 26.41% of the company’s stock.

Analyst Upgrades and Downgrades

FOX has been the subject of several recent research reports. Barclays raised shares of FOX to a “hold” rating in a research report on Wednesday, October 9th. Seaport Res Ptn downgraded shares of FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th.

FOX Trading Up 0.8 %

Shares of NASDAQ FOX traded up $0.32 on Thursday, reaching $39.07. 1,519,280 shares of the company traded hands, compared to its average volume of 1,100,659. The company has a 50 day moving average of $37.72 and a 200 day moving average of $33.60. FOX has a fifty-two week low of $25.82 and a fifty-two week high of $39.15. The company has a current ratio of 2.54, a quick ratio of 2.33 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $18.24 billion, a PE ratio of 12.13, a P/E/G ratio of 2.01 and a beta of 0.81.

FOX (NASDAQ:FOX) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.10 billion. FOX had a return on equity of 15.57% and a net margin of 10.74%. During the same period in the prior year, the company posted $0.88 EPS. On average, equities research analysts forecast that FOX will post 3.59 earnings per share for the current fiscal year.

FOX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.76%. This is an increase from FOX’s previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, September 4th. FOX’s payout ratio is 16.93%.

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.