Fox Co. (NASDAQ:FOX) Sees Large Decrease in Short Interest

Fox Co. (NASDAQ:FOX) was the recipient of a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 3,080,000 shares, a decrease 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 trading volume of 1,020,000 shares, the short-interest ratio is presently 3.0 days.

Wall Street Analyst Weigh In

A number of brokerages have commented on FOX. Barclays raised shares of FOX to a “hold” rating in a research note on Wednesday, October 9th. Seaport Res Ptn lowered FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th.

FOX Trading Down 0.8 %

Shares of FOX traded down $0.36 during midday trading on Tuesday, hitting $44.05. The stock had a trading volume of 1,378,193 shares, compared to its average volume of 1,100,386. FOX has a 1 year low of $25.82 and a 1 year high of $44.89. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33. The stock’s 50 day moving average is $40.62 and its 200 day moving average is $36.61. The firm has a market cap of $20.12 billion, a PE ratio of 10.77, a price-to-earnings-growth ratio of 1.70 and a beta of 0.83.

Insider Transactions at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 771,024 shares of FOX stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $46.07, for a total value of $35,521,075.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO John Nallen sold 182,481 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total value of $7,979,894.13. Following the transaction, the chief operating officer now owns 249,424 shares of the company’s stock, valued at $10,907,311.52. This represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,053,505 shares of company stock valued at $47,705,970 over the last 90 days. Company insiders own 23.06% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Glenmede Trust Co. NA increased its stake in FOX by 136.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 777 shares of the company’s stock worth $30,000 after buying an additional 449 shares during the period. Blue Trust Inc. lifted its stake in FOX by 692.1% in the second quarter. Blue Trust Inc. now owns 1,410 shares of the company’s stock worth $45,000 after acquiring an additional 1,232 shares during the period. Friedenthal Financial bought a new position in FOX during the 2nd quarter worth about $51,000. Intact Investment Management Inc. bought a new position in FOX during the 3rd quarter worth about $74,000. Finally, Exchange Traded Concepts LLC bought a new stake in shares of FOX in the 3rd quarter valued at about $128,000. Hedge funds and other institutional investors own 26.41% of the company’s stock.

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.