Fox Co. (NASDAQ:FOXA – Get Rating) was the recipient of a large decline in short interest in the month of June. As of June 30th, there was short interest totalling 9,220,000 shares, a decline of 20.0% from the June 15th total of 11,530,000 shares. Currently, 3.0% of the company’s shares are short sold. Based on an average daily volume of 2,560,000 shares, the short-interest ratio is presently 3.6 days.
Hedge Funds Weigh In On FOX
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Concord Wealth Partners boosted its stake in shares of FOX by 102.3% in the 4th quarter. Concord Wealth Partners now owns 706 shares of the company’s stock valued at $26,000 after purchasing an additional 357 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in FOX by 63.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 669 shares of the company’s stock worth $26,000 after buying an additional 260 shares in the last quarter. Twin Tree Management LP acquired a new position in FOX during the 1st quarter worth about $26,000. Atticus Wealth Management LLC lifted its position in FOX by 3,274.1% during the 2nd quarter. Atticus Wealth Management LLC now owns 911 shares of the company’s stock worth $29,000 after buying an additional 884 shares in the last quarter. Finally, Asset Dedication LLC acquired a new position in FOX during the 1st quarter worth about $36,000. Institutional investors own 56.94% of the company’s stock.
FOX Stock Performance
Shares of FOXA opened at $34.25 on Wednesday. FOX has a one year low of $31.33 and a one year high of $44.95. The company has a 50-day moving average of $33.34 and a two-hundred day moving average of $37.48. The stock has a market cap of $19.07 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 0.72 and a beta of 0.94. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.73 and a quick ratio of 3.36.
FOX (NASDAQ:FOXA – Get Rating) last posted its earnings results on Tuesday, May 10th. The company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The business had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.39 billion. FOX had a net margin of 8.33% and a return on equity of 13.84%. FOX’s revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.88 earnings per share. On average, equities research analysts expect that FOX will post 2.77 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on FOXA shares. StockNews.com started coverage on shares of FOX in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Wolfe Research cut shares of FOX from an “outperform” rating to a “peer perform” rating and cut their price objective for the stock from $52.00 to $39.00 in a research report on Thursday, June 2nd. Rosenblatt Securities began coverage on shares of FOX in a research note on Tuesday, April 19th. They set a “neutral” rating and a $38.00 target price for the company. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of FOX from $48.00 to $46.00 in a research note on Wednesday, May 25th. Finally, Morgan Stanley downgraded shares of FOX from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $45.00 to $38.00 in a research note on Monday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, FOX currently has an average rating of “Hold” and a consensus target price of $42.25.
About FOX
Fox Corporation operates as a news, sports, and entertainment company in the United States. The company operates through three segments: Cable Network Programming; Television; and Other, Corporate and Eliminations. 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 multi-channel video programming distributors.