Fox Corp (NASDAQ:FOX) Short Interest Update

Fox Corp (NASDAQ:FOX) was the recipient of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 2,440,000 shares, a drop of 11.6% from the September 30th total of 2,760,000 shares. Based on an average daily trading volume, of 1,350,000 shares, the short-interest ratio is presently 1.8 days. Approximately 1.5% of the company’s shares are short sold.

FOX has been the topic of a number of analyst reports. Zacks Investment Research lowered shares of FOX from a “hold” rating to a “sell” rating in a research note on Wednesday, August 21st. BidaskClub lowered shares of FOX from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Wells Fargo & Co reiterated an “underperform” rating and set a $32.00 price objective (up previously from $30.00) on shares of FOX in a research note on Thursday, November 7th. Four analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $40.00.

In other FOX news, 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 owns 805,714 shares of the company’s stock, valued at approximately $25,831,190.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 17.47% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Truvestments Capital LLC acquired a new position in shares of FOX during the third quarter valued at $42,000. Hall Laurie J Trustee acquired a new position in shares of FOX during the third quarter valued at $57,000. Quest Capital Management Inc. ADV acquired a new position in shares of FOX during the third quarter valued at $57,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of FOX during the third quarter valued at $63,000. Finally, Municipal Employees Retirement System of Michigan acquired a new position in shares of FOX during the third quarter valued at $69,000. 23.70% of the stock is owned by institutional investors.

Shares of FOX traded up $0.14 during mid-day trading on Friday, reaching $33.59. 1,682,400 shares of the stock traded hands, compared to its average volume of 1,586,888. FOX has a 12-month low of $29.61 and a 12-month high of $41.73. The company has a current ratio of 3.73, a quick ratio of 2.96 and a debt-to-equity ratio of 0.65. The stock has a fifty day simple moving average of $31.80 and a 200 day simple moving average of $34.42.

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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