Short Interest in Fox Co. (NASDAQ:FOX) Increases By 50.7%

Fox Co. (NASDAQ:FOX) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 4,340,000 shares, a growth of 50.7% from the February 29th total of 2,880,000 shares. Approximately 3.3% of the company’s stock are sold short. Based on an average daily volume of 1,320,000 shares, the days-to-cover ratio is currently 3.3 days.

FOX Stock Performance

NASDAQ:FOX traded up $0.02 during midday trading on Friday, reaching $28.62. The stock had a trading volume of 1,173,836 shares, compared to its average volume of 1,608,899. The stock has a market cap of $13.59 billion, a P/E ratio of 16.94 and a beta of 0.84. The company has a quick ratio of 2.01, a current ratio of 2.29 and a debt-to-equity ratio of 0.70. FOX has a 12-month low of $25.82 and a 12-month high of $33.24. The firm has a fifty day simple moving average of $27.87 and a two-hundred day simple moving average of $28.13.

FOX (NASDAQ:FOX) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.23. FOX had a return on equity of 15.81% and a net margin of 5.75%. The firm had revenue of $4.23 billion for the quarter. During the same period in the prior year, the company earned $0.48 EPS.

FOX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Wednesday, March 6th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 3.63%. This is a boost from FOX’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Tuesday, March 5th. FOX’s dividend payout ratio is presently 30.77%.

Institutional Trading of FOX

Several large investors have recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of FOX by 51.1% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 245,954 shares of the company’s stock valued at $6,801,000 after acquiring an additional 83,171 shares in the last quarter. Royal London Asset Management Ltd. raised its stake in FOX by 1.5% in the 4th quarter. Royal London Asset Management Ltd. now owns 52,522 shares of the company’s stock valued at $1,452,000 after purchasing an additional 790 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in FOX by 93.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 945,930 shares of the company’s stock valued at $26,155,000 after purchasing an additional 456,546 shares in the last quarter. V Square Quantitative Management LLC boosted its stake in shares of FOX by 20.8% during the 4th quarter. V Square Quantitative Management LLC now owns 3,391 shares of the company’s stock worth $94,000 after purchasing an additional 585 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in shares of FOX by 2.5% in the fourth quarter. Public Employees Retirement System of Ohio now owns 62,924 shares of the company’s stock valued at $1,740,000 after buying an additional 1,531 shares during the last quarter. 26.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, TheStreet downgraded shares of FOX from a “b-” rating to a “c” rating in a research note on Wednesday, February 7th.

About FOX

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.