Fox Corporation (NASDAQ:FOXA) Short Interest Up 18.7% in February

Fox Corporation (NASDAQ:FOXA) was the recipient of a significant growth in short interest in the month of February. As of February 13th, there was short interest totaling 31,909,428 shares, a growth of 18.7% from the January 29th total of 26,875,859 shares. Based on an average trading volume of 5,695,948 shares, the days-to-cover ratio is presently 5.6 days. Currently, 9.3% of the company’s shares are sold short. Currently, 9.3% of the company’s shares are sold short. Based on an average trading volume of 5,695,948 shares, the days-to-cover ratio is presently 5.6 days.

Insider Buying and Selling at FOX

In related news, insider Adam G. Ciongoli sold 29,897 shares of the business’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $69.55, for a total transaction of $2,079,336.35. Following the transaction, the insider owned 35,978 shares in the company, valued at $2,502,269.90. The trade was a 45.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 19.68% of the company’s stock.

Hedge Funds Weigh In On FOX

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Geneos Wealth Management Inc. lifted its holdings in FOX by 205.6% during the first quarter. Geneos Wealth Management Inc. now owns 923 shares of the company’s stock valued at $52,000 after purchasing an additional 621 shares in the last quarter. Amalgamated Bank raised its position in FOX by 0.9% during the second quarter. Amalgamated Bank now owns 42,700 shares of the company’s stock valued at $2,393,000 after purchasing an additional 360 shares during the period. Bank of New York Mellon Corp lifted its position in FOX by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 1,908,218 shares of the company’s stock worth $106,937,000 after buying an additional 47,475 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in shares of FOX by 1,709.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,389 shares of the company’s stock worth $134,000 after purchasing an additional 2,257 shares during the period. Finally, Andra AP fonden boosted its position in shares of FOX by 19.2% during the second quarter. Andra AP fonden now owns 920,800 shares of the company’s stock valued at $51,602,000 after buying an additional 148,400 shares during the period. Hedge funds and other institutional investors own 52.52% of the company’s stock.

FOX Stock Performance

Shares of FOXA stock traded up $0.86 during trading hours on Wednesday, reaching $58.22. The company had a trading volume of 4,091,690 shares, compared to its average volume of 4,069,297. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.44 and a current ratio of 2.78. The business has a fifty day moving average price of $67.40 and a 200-day moving average price of $64.54. FOX has a one year low of $46.42 and a one year high of $76.39. The firm has a market cap of $24.77 billion, a PE ratio of 14.00, a price-to-earnings-growth ratio of 7.42 and a beta of 0.55.

FOX (NASDAQ:FOXA) last announced its earnings results on Wednesday, February 4th. The company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.35. FOX had a net margin of 11.41% and a return on equity of 18.14%. The business had revenue of $5.18 billion during the quarter, compared to analyst estimates of $5.02 billion. During the same period in the previous year, the business earned $0.96 EPS. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. Sell-side analysts predict that FOX will post 4.38 earnings per share for the current fiscal year.

FOX Announces Dividend

The company also recently declared a dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th will be paid a dividend of $0.28 per share. This represents a dividend yield of 83.0%. The ex-dividend date is Wednesday, March 4th. FOX’s payout ratio is currently 13.46%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on FOXA shares. Guggenheim boosted their target price on shares of FOX from $75.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 22nd. Morgan Stanley boosted their price objective on shares of FOX from $74.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 5th. Wells Fargo & Company downgraded shares of FOX from an “overweight” rating to a “hold” rating in a research note on Thursday, February 5th. TD Cowen boosted their price target on FOX from $55.00 to $65.00 and gave the stock a “hold” rating in a research report on Thursday, February 5th. Finally, Zacks Research lowered FOX from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 5th. Seven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $71.80.

About FOX

Fox Corporation (NASDAQ: FOXA) is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp’s operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.