Short Interest in Fox Corp (NASDAQ:FOX) Grows By 36.6%
Fox Corp (NASDAQ:FOX) was the recipient of a significant growth in short interest during the month of June. As of June 30th, there was short interest totalling 3,620,000 shares, a growth of 36.6% from the May 30th total of 2,650,000 shares. Currently, 2.2% of the company’s stock are sold short. Based on an average daily volume of 1,850,000 shares, the short-interest ratio is presently 2.0 days.
A number of analysts have recently issued reports on the company. Royal Bank of Canada set a $165.00 price objective on Allergan and gave the company a “hold” rating in a research report on Monday, March 25th. BidaskClub raised Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, June 20th. Goldman Sachs Group assumed coverage on Tricida in a research report on Wednesday, June 26th. They issued a “buy” rating and a $48.00 price objective for the company. Finally, Zacks Investment Research raised HAYS PLC/ADR from a “sell” rating to a “hold” rating in a research report on Tuesday, June 18th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. FOX has an average rating of “Hold” and an average price target of $42.67.
Shares of FOX traded up $0.65 during mid-day trading on Friday, reaching $36.96. The company’s stock had a trading volume of 1,490,601 shares, compared to its average volume of 2,017,489. FOX has a 1-year low of $33.32 and a 1-year high of $41.73. The business’s 50-day moving average price is $35.45. The company has a quick ratio of 3.77, a current ratio of 4.60 and a debt-to-equity ratio of 0.78.
In related news, Chairman Keith Rupert Murdoch purchased 600,000 shares of FOX stock in a transaction that occurred on Friday, June 7th. The stock was purchased at an average cost of $34.27 per share, with a total value of $20,562,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 39.40% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Nuveen Asset Management LLC increased its stake in FOX by 2.5% during the 4th quarter. Nuveen Asset Management LLC now owns 13,095 shares of the company’s stock worth $626,000 after acquiring an additional 318 shares during the period. Kaizen Advisory LLC increased its stake in FOX by 41.0% during the 4th quarter. Kaizen Advisory LLC now owns 1,296 shares of the company’s stock worth $62,000 after acquiring an additional 377 shares during the period. Macquarie Group Ltd. increased its stake in FOX by 2.9% during the 4th quarter. Macquarie Group Ltd. now owns 21,100 shares of the company’s stock worth $1,013,000 after acquiring an additional 600 shares during the period. Global Retirement Partners LLC bought a new position in FOX during the 4th quarter worth $32,000. Finally, BOKF NA increased its stake in FOX by 4.2% during the 4th quarter. BOKF NA now owns 51,131 shares of the company’s stock worth $2,443,000 after acquiring an additional 2,046 shares during the period. Institutional investors own 22.14% of the company’s stock.
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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