Short Interest in Fox Co. (NASDAQ:FOXA) Expands By 6.3%

Fox Co. (NASDAQ:FOXAGet Free Report) was the target of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 17,440,000 shares, a growth of 6.3% from the February 29th total of 16,410,000 shares. Approximately 7.4% of the company’s shares are sold short. Based on an average daily trading volume, of 3,360,000 shares, the short-interest ratio is presently 5.2 days.

Wall Street Analysts Forecast Growth

FOXA has been the topic of several recent analyst reports. TheStreet downgraded shares of FOX from a “b-” rating to a “c” rating in a research note on Wednesday, February 7th. Citigroup raised shares of FOX from a “neutral” rating to a “buy” rating and upped their price objective for the company from $34.00 to $35.00 in a research note on Friday, February 23rd. Wells Fargo & Company cut their price target on shares of FOX from $30.00 to $28.00 and set an “underweight” rating on the stock in a research note on Thursday, February 8th. Wolfe Research upgraded shares of FOX from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Finally, Macquarie lifted their price target on shares of FOX from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $33.40.

Check Out Our Latest Research Report on FOXA

FOX Stock Performance

NASDAQ:FOXA opened at $31.41 on Thursday. The company has a current ratio of 2.29, a quick ratio of 2.01 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $14.92 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 0.41 and a beta of 0.78. The firm’s fifty day simple moving average is $30.34 and its 200 day simple moving average is $30.41. FOX has a twelve month low of $28.28 and a twelve month high of $35.40.

FOX (NASDAQ:FOXAGet Free Report) last released its quarterly earnings results on Wednesday, February 7th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.24. FOX had a net margin of 5.75% and a return on equity of 15.81%. The firm had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the previous year, the firm posted $0.48 EPS. The firm’s quarterly revenue was down 8.1% on a year-over-year basis. As a group, equities research analysts expect that FOX will post 3.28 earnings per share for the current fiscal year.

FOX Dividend Announcement

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

Institutional Investors Weigh In On FOX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC increased its position in shares of FOX by 862.2% in the 4th quarter. Global Retirement Partners LLC now owns 943 shares of the company’s stock worth $29,000 after purchasing an additional 845 shares during the last quarter. MV Capital Management Inc. boosted its stake in FOX by 36.5% during the 3rd quarter. MV Capital Management Inc. now owns 1,416 shares of the company’s stock valued at $44,000 after purchasing an additional 379 shares during the period. Altshuler Shaham Ltd acquired a new stake in shares of FOX in the 4th quarter worth approximately $43,000. Belpointe Asset Management LLC lifted its stake in shares of FOX by 35.6% in the 1st quarter. Belpointe Asset Management LLC now owns 1,437 shares of the company’s stock worth $49,000 after acquiring an additional 377 shares during the period. Finally, GAMMA Investing LLC bought a new stake in shares of FOX in the 4th quarter worth approximately $53,000. Hedge funds and other institutional investors own 52.52% of the company’s stock.

About FOX

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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.

Further Reading

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