Short Interest in Fox Corporation (NASDAQ:FOX) Declines By 24.8%

Fox Corporation (NASDAQ:FOX) saw a significant decrease in short interest in May. As of May 31st, there was short interest totalling 3,480,000 shares, a decrease of 24.8% from the May 15th total of 4,630,000 shares. Approximately 2.6% of the company’s shares are short sold. Based on an average trading volume of 1,360,000 shares, the days-to-cover ratio is presently 2.6 days.

Insiders Place Their Bets

In related news, CFO Steven Tomsic sold 5,607 shares of the firm’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $55.37, for a total transaction of $310,459.59. Following the sale, the chief financial officer now directly owns 133,923 shares in the company, valued at $7,415,316.51. This trade represents a 4.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 23.06% of the company’s stock.

Hedge Funds Weigh In On FOX

A number of large investors have recently bought and sold shares of FOX. Federated Hermes Inc. increased its position in shares of FOX by 66.2% in the first quarter. Federated Hermes Inc. now owns 580 shares of the company’s stock valued at $31,000 after acquiring an additional 231 shares during the last quarter. IFP Advisors Inc increased its position in shares of FOX by 457.6% during the 1st quarter. IFP Advisors Inc now owns 697 shares of the company’s stock worth $37,000 after purchasing an additional 572 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of FOX by 183.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 801 shares of the company’s stock worth $42,000 after purchasing an additional 518 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of FOX by 135.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 907 shares of the company’s stock worth $42,000 after purchasing an additional 522 shares in the last quarter. Finally, Principal Securities Inc. boosted its holdings in shares of FOX by 51.5% in the 4th quarter. Principal Securities Inc. now owns 1,065 shares of the company’s stock valued at $49,000 after buying an additional 362 shares during the last quarter. Institutional investors and hedge funds own 26.41% of the company’s stock.

FOX Price Performance

Shares of NASDAQ FOX opened at $49.63 on Wednesday. The company has a fifty day moving average price of $48.31 and a 200 day moving average price of $48.35. The firm has a market cap of $22.31 billion, a PE ratio of 12.35, a PEG ratio of 1.11 and a beta of 0.56. The company has a current ratio of 2.45, a quick ratio of 2.33 and a debt-to-equity ratio of 0.57. FOX has a 1-year low of $31.03 and a 1-year high of $55.00.

FOX (NASDAQ:FOX) last posted its quarterly earnings data on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.14. FOX had a return on equity of 17.99% and a net margin of 11.58%. The company had revenue of $4.37 billion during the quarter, compared to analysts’ expectations of $4.19 billion. Research analysts predict that FOX will post 4.25 earnings per share for the current fiscal year.

FOX Company Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses 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.