Fox Corp (NASDAQ:FOX) was the target of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 3,790,000 shares, an increase of 28.0% from the September 15th total of 2,960,000 shares. Currently, 2.5% of the company's stock are sold short. Based on an average trading volume of 1,270,000 shares, the days-to-cover ratio is presently 3.0 days.
FOX traded down $0.08 during trading on Friday, reaching $27.12. The stock had a trading volume of 715,432 shares, compared to its average volume of 1,515,018. The firm has a market capitalization of $16.40 billion, a price-to-earnings ratio of 16.84 and a beta of 1.40. The company has a quick ratio of 3.48, a current ratio of 3.93 and a debt-to-equity ratio of 0.79. FOX has a 1-year low of $19.13 and a 1-year high of $38.84. The stock has a 50 day moving average of $27.97 and a two-hundred day moving average of $26.62.
FOX (NASDAQ:FOX) last released its earnings results on Tuesday, August 4th. The company reported $0.62 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.04. The firm had revenue of $2.42 billion during the quarter. FOX had a return on equity of 14.93% and a net margin of 8.12%.
The company also recently announced a Semi-Annual dividend, which was paid on Wednesday, October 7th. Shareholders of record on Wednesday, September 2nd were given a $0.23 dividend. The ex-dividend date was Tuesday, September 1st. This represents a yield of 1.8%.
A number of brokerages have commented on FOX. TheStreet upgraded FOX from a "d+" rating to a "c-" rating in a research note on Friday, September 18th. BidaskClub upgraded FOX from a "sell" rating to a "hold" rating in a research note on Wednesday, September 9th. Credit Suisse Group restated a "buy" rating on shares of FOX in a research note on Tuesday, September 22nd. Finally, Loop Capital upgraded FOX to a "buy" rating and set a $33.00 target price for the company in a research note on Friday, July 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company's stock. The stock has a consensus rating of "Hold" and a consensus price target of $29.88.
In related news, insider Viet D. Dinh sold 70,000 shares of the business's stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $28.71, for a total value of $2,009,700.00. Following the completion of the sale, the insider now directly owns 7,510 shares of the company's stock, valued at $215,612.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Lachlan K. Murdoch acquired 229,024 shares of the stock in a transaction that occurred on Saturday, August 15th. The stock was purchased at an average cost of $25.74 per share, with a total value of $5,895,077.76. Following the completion of the acquisition, the chief executive officer now owns 427,893 shares of the company's stock, valued at $11,013,965.82. The disclosure for this purchase can be found here. 17.47% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of FOX by 19.2% in the second quarter. Vanguard Group Inc. now owns 15,291,602 shares of the company's stock valued at $410,427,000 after buying an additional 2,459,358 shares in the last quarter. State Street Corp increased its holdings in shares of FOX by 4.7% in the first quarter. State Street Corp now owns 7,729,290 shares of the company's stock valued at $178,500,000 after buying an additional 346,204 shares in the last quarter. Morgan Stanley increased its holdings in shares of FOX by 3.9% in the first quarter. Morgan Stanley now owns 6,617,444 shares of the company's stock valued at $151,408,000 after buying an additional 249,100 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of FOX by 2.8% in the second quarter. Goldman Sachs Group Inc. now owns 1,535,465 shares of the company's stock valued at $41,212,000 after buying an additional 41,301 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of FOX by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 1,074,269 shares of the company's stock valued at $28,834,000 after buying an additional 22,629 shares in the last quarter. Hedge funds and other institutional investors own 23.45% of the company's stock.
FOX Company Profile
Fox Corporation operates as a news, sports, and entertainment company in the United States. The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business news, and sports content for distribution primarily through cable television systems, direct broadcast satellite operators, telecommunications companies, and online video distributors.
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