Short Interest in Fox Co. (NASDAQ:FOXA) Expands By 8.5%

Fox Co. (NASDAQ:FOXA) saw a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 18,930,000 shares, a growth of 8.5% from the March 15th total of 17,440,000 shares. Based on an average daily volume of 3,500,000 shares, the short-interest ratio is currently 5.4 days. Currently, 8.0% of the shares of the company are short sold.

Analysts Set New Price Targets

Several equities analysts recently issued reports on FOXA shares. TheStreet cut FOX from a “b-” rating to a “c” rating in a research report on Wednesday, February 7th. Wolfe Research upgraded FOX from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Seaport Res Ptn upgraded shares of FOX from a “neutral” rating to a “buy” rating in a research report on Friday, April 5th. Rosenblatt Securities restated a “neutral” rating and set a $34.00 price objective on shares of FOX in a research report on Monday. Finally, Wells Fargo & Company reduced their target price on shares of FOX from $30.00 to $28.00 and set an “underweight” rating for the company in a research note on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $33.40.

FOX Price Performance

NASDAQ:FOXA traded up $0.16 during trading hours on Wednesday, hitting $30.56. The company’s stock had a trading volume of 1,287,709 shares, compared to its average volume of 3,421,045. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.01 and a current ratio of 2.29. The company has a market capitalization of $14.51 billion, a PE ratio of 17.99, a PEG ratio of 0.40 and a beta of 0.78. FOX has a 52-week low of $28.28 and a 52-week high of $35.40. The business’s 50-day moving average is $30.11 and its two-hundred day moving average is $30.37.

FOX (NASDAQ:FOXA) last posted its earnings results on Wednesday, February 7th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.24. The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.21 billion. FOX had a return on equity of 15.81% and a net margin of 5.75%. FOX’s revenue was down 8.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.48 earnings per share. As a group, research analysts anticipate that FOX will post 3.28 EPS for the current fiscal year.

FOX Announces Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 6th were given a dividend of $0.26 per share. This represents a yield of 1.8%. The ex-dividend date of this dividend was Tuesday, March 5th. FOX’s payout ratio is 30.77%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Cornercap Investment Counsel Inc. boosted its stake in shares of FOX by 0.8% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 41,656 shares of the company’s stock worth $1,236,000 after acquiring an additional 324 shares in the last quarter. Park Avenue Securities LLC raised its position in shares of FOX by 1.7% during the first quarter. Park Avenue Securities LLC now owns 18,908 shares of the company’s stock valued at $591,000 after buying an additional 324 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund lifted its stake in shares of FOX by 3.1% in the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 10,983 shares of the company’s stock valued at $337,000 after buying an additional 334 shares during the period. Prudential PLC grew its position in FOX by 1.6% during the third quarter. Prudential PLC now owns 23,068 shares of the company’s stock worth $720,000 after buying an additional 362 shares in the last quarter. Finally, Empirical Finance LLC grew its position in FOX by 3.8% during the third quarter. Empirical Finance LLC now owns 10,212 shares of the company’s stock worth $319,000 after buying an additional 372 shares in the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). 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 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.