Short Interest in Fox Co. (NASDAQ:FOX) Rises By 6.8%

Fox Co. (NASDAQ:FOX) was the recipient of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 3,300,000 shares, an increase of 6.8% from the October 15th total of 3,090,000 shares. Currently, 2.5% of the shares of the stock are sold short. Based on an average daily volume of 867,500 shares, the short-interest ratio is currently 3.8 days.

FOX Trading Down 0.0 %

FOX traded down $0.01 during midday trading on Tuesday, reaching $42.74. 440,020 shares of the company were exchanged, compared to its average volume of 1,079,569. The stock has a market capitalization of $19.52 billion, a P/E ratio of 10.37, a PEG ratio of 1.64 and a beta of 0.81. The stock’s 50-day simple moving average is $39.12 and its 200 day simple moving average is $35.55. 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 has a one year low of $25.82 and a one year high of $44.42.

Insider Buying and Selling

In other news, COO John Nallen sold 182,481 shares of FOX stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the completion of the transaction, the chief operating officer now owns 249,424 shares of the company’s stock, valued at $10,907,311.52. The trade was a 42.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the completion of the transaction, the chairman now owns 1,258,862 shares in the company, valued at approximately $52,935,147.10. This trade represents a 7.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 23.06% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. State Street Corp grew its position in 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 buying an additional 671,511 shares in the last quarter. Independent Franchise Partners LLP lifted its stake in FOX by 14.5% in the second quarter. Independent Franchise Partners LLP now owns 5,023,830 shares of the company’s stock valued at $160,863,000 after buying an additional 636,247 shares during the period. Geode Capital Management LLC boosted its position in shares of FOX by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,109,955 shares of the company’s stock worth $120,299,000 after purchasing an additional 92,515 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of FOX by 13.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,326,267 shares of the company’s stock valued at $74,483,000 after buying an additional 272,743 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in FOX in the second quarter worth about $65,709,000. Institutional investors and hedge funds own 26.41% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.