Fox Co. (NASDAQ:FOXA – Get Rating) saw a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 30,220,000 shares, an increase of 242.2% from the January 31st total of 8,830,000 shares. Currently, 10.3% of the company's stock are short sold. Based on an average daily trading volume, of 2,550,000 shares, the short-interest ratio is currently 11.9 days.
Insider Buying and Selling at FOX
In other FOX news, insider Viet D. Dinh sold 72,207 shares of the company's stock in a transaction dated Thursday, February 9th. The shares were sold at an average price of $35.91, for a total value of $2,592,953.37. Following the completion of the transaction, the insider now directly owns 49,384 shares of the company's stock, valued at approximately $1,773,379.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 19.86% of the stock is currently owned by corporate insiders.
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Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in FOXA. Eagle Bay Advisors LLC boosted its holdings in FOX by 104.1% during the third quarter. Eagle Bay Advisors LLC now owns 890 shares of the company's stock worth $27,000 after buying an additional 454 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in FOX by 226.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,022 shares of the company's stock worth $32,000 after buying an additional 709 shares in the last quarter. Belpointe Asset Management LLC bought a new stake in FOX during the fourth quarter worth approximately $32,000. Private Trust Co. NA bought a new stake in FOX during the second quarter worth approximately $40,000. Finally, Ronald Blue Trust Inc. boosted its holdings in FOX by 174.3% during the fourth quarter. Ronald Blue Trust Inc. now owns 1,292 shares of the company's stock worth $40,000 after buying an additional 821 shares in the last quarter. 55.65% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several brokerages have recently commented on FOXA. StockNews.com cut shares of FOX from a "buy" rating to a "hold" rating in a research report on Saturday, November 26th. UBS Group reduced their price target on shares of FOX from $44.00 to $42.00 and set a "buy" rating on the stock in a research report on Monday, January 9th. Rosenblatt Securities increased their price objective on shares of FOX from $31.00 to $35.00 and gave the stock a "neutral" rating in a research note on Thursday, February 9th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of FOX from $39.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, February 9th. Finally, Guggenheim dropped their price objective on shares of FOX from $43.00 to $40.00 and set a "buy" rating on the stock in a research note on Thursday, January 5th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $37.88.
FOX Stock Performance
Shares of NASDAQ:FOXA traded down $0.22 during trading hours on Wednesday, hitting $34.80. The stock had a trading volume of 2,213,855 shares, compared to its average volume of 2,727,626. The stock's fifty day simple moving average is $33.30 and its 200 day simple moving average is $32.31. FOX has a 1-year low of $28.01 and a 1-year high of $43.57. The firm has a market capitalization of $18.60 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 0.87 and a beta of 0.87. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.86 and a current ratio of 3.37.
FOX (NASDAQ:FOXA – Get Rating) last posted its quarterly earnings data on Wednesday, February 8th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.02. The business had revenue of $4.61 billion during the quarter, compared to analysts' expectations of $4.58 billion. FOX had a net margin of 10.55% and a return on equity of 15.71%. The business's revenue was up 3.7% on a year-over-year basis. During the same period last year, the firm posted $0.13 earnings per share. Sell-side analysts anticipate that FOX will post 3.49 earnings per share for the current fiscal year.
FOX Announces Dividend
The business also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, March 29th. Stockholders of record on Wednesday, March 1st will be issued a $0.25 dividend. This represents a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, February 28th. FOX's dividend payout ratio (DPR) is presently 18.32%.
About FOX
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Fox Corp. delivers news, sports and entertainment content. The company provides news under the brands FOX News Media, FOX Sports, FOX Entertainment and FOX Television Stations. It operates through three segments: Cable Network Programming, Television, and Other, Corporate and Eliminations. The Cable Network Programming segment consists of the production and licensing of news and sports content distributed primarily through traditional cable television systems, direct broadcast satellite operators and telecommunication companies and online multi-channel video programming distributors.
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