Fox Corp (NASDAQ:FOX) was the recipient of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 3,480,000 shares, an increase of 30.8% from the August 30th total of 2,660,000 shares. Approximately 2.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,370,000 shares, the short-interest ratio is currently 2.5 days.
Several equities analysts recently commented on the stock. Zacks Investment Research downgraded shares of FOX from a “hold” rating to a “sell” rating in a report on Wednesday, August 21st. Goldman Sachs Group assumed coverage on shares of FOX in a report on Wednesday, June 26th. They set a “buy” rating and a $46.00 price target on the stock. Finally, BidaskClub downgraded shares of FOX from a “hold” rating to a “sell” rating in a report on Friday, September 20th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $42.67.
In other news, Director Roland A. Hernandez purchased 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average cost of $34.91 per share, for a total transaction of $104,730.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Keith Rupert Murdoch purchased 500,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were purchased at an average price of $32.06 per share, for a total transaction of $16,030,000.00. Following the completion of the acquisition, the chairman now directly owns 805,714 shares in the company, valued at approximately $25,831,190.84. The disclosure for this purchase can be found here. Insiders own 17.47% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in FOX. Truvestments Capital LLC purchased a new stake in FOX in the 3rd quarter valued at about $42,000. Everence Capital Management Inc. purchased a new stake in shares of FOX in the 3rd quarter worth approximately $320,000. Arden Trust Co purchased a new stake in shares of FOX in the 3rd quarter worth approximately $419,000. Moon Capital Management LLC purchased a new stake in shares of FOX in the 3rd quarter worth approximately $727,000. Finally, State of Alaska Department of Revenue purchased a new stake in shares of FOX in the 3rd quarter worth approximately $910,000. 23.58% of the stock is owned by institutional investors.
NASDAQ:FOX traded up $0.73 during mid-day trading on Friday, hitting $31.16. 1,384,145 shares of the stock traded hands, compared to its average volume of 1,046,799. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.12 and a current ratio of 3.78. FOX has a 52 week low of $29.61 and a 52 week high of $41.73. The firm’s 50 day moving average is $32.13 and its two-hundred day moving average is $35.20.
FOX (NASDAQ:FOX) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.62 earnings per share (EPS) for the quarter. The company had revenue of $2.51 billion during the quarter.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 4th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.95%. This is a boost from FOX’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Tuesday, September 3rd.
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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