Fox Co. (NASDAQ:FOX) Short Interest Down 6.7% in November

Fox Co. (NASDAQ:FOX) saw a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 3,080,000 shares, a decline of 6.7% from the October 31st total of 3,300,000 shares. Approximately 2.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,020,000 shares, the short-interest ratio is presently 3.0 days.

Insider Buying and Selling

In related news, COO John Nallen sold 182,481 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief operating officer now directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Keith Rupert Murdoch sold 771,024 shares of the firm’s stock in a transaction dated 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. In the last three months, insiders have sold 1,053,505 shares of company stock worth $47,705,970. Insiders own 23.06% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in FOX. Assenagon Asset Management S.A. acquired a new stake in FOX during the second quarter worth about $65,709,000. National Bank of Canada FI boosted its stake in shares of FOX by 212.7% during the 3rd quarter. National Bank of Canada FI now owns 1,437,637 shares of the company’s stock valued at $55,780,000 after buying an additional 977,907 shares during the period. State Street Corp raised its holdings in shares of FOX by 7.5% during the third quarter. State Street Corp now owns 9,639,382 shares of the company’s stock worth $374,008,000 after acquiring an additional 671,511 shares in the last quarter. Independent Franchise Partners LLP increased its holdings in FOX by 14.5% in 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 during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in FOX by 448.4% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 712,900 shares of the company’s stock valued at $27,661,000 after acquiring an additional 582,900 shares during the last quarter. 26.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on FOX. Seaport Res Ptn lowered shares of FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. Barclays upgraded shares of FOX to a “hold” rating in a report on Wednesday, October 9th.

FOX Price Performance

FOX stock opened at $44.05 on Wednesday. FOX has a 1 year low of $25.82 and a 1 year high of $44.89. The firm has a market cap of $20.12 billion, a P/E ratio of 10.77, a PEG ratio of 1.70 and a beta of 0.83. The stock’s 50 day moving average price is $40.62 and its 200 day moving average price is $36.61. 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 Company Profile

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.