Short Interest in Fox Co. (NASDAQ:FOX) Declines By 6.0%

Fox Co. (NASDAQ:FOX) was the target of a significant decline in short interest in March. As of March 31st, there was short interest totalling 4,080,000 shares, a decline of 6.0% from the March 15th total of 4,340,000 shares. Approximately 3.1% of the shares of the stock are sold short. Based on an average daily volume of 1,360,000 shares, the short-interest ratio is currently 3.0 days.

FOX Stock Up 0.1 %

Shares of NASDAQ:FOX opened at $27.99 on Thursday. The company has a fifty day moving average of $27.59 and a 200-day moving average of $28.05. The company has a market capitalization of $13.29 billion, a PE ratio of 16.56 and a beta of 0.85. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.01 and a current ratio of 2.29. FOX has a 52-week low of $25.82 and a 52-week high of $33.24.

FOX (NASDAQ:FOX) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.23. The company had revenue of $4.23 billion during the quarter. FOX had a net margin of 5.75% and a return on equity of 15.81%. During the same quarter last year, the company posted $0.48 earnings per share.

FOX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Wednesday, March 6th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This is an increase from FOX’s previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a dividend yield of 3.72%. FOX’s dividend payout ratio is 30.77%.

Institutional Trading of FOX

Institutional investors and hedge funds have recently bought and sold shares of the stock. Headlands Technologies LLC acquired a new stake in FOX in the third quarter valued at $25,000. UniSuper Management Pty Ltd acquired a new stake in FOX in the second quarter valued at $32,000. Allworth Financial LP boosted its position in FOX by 176.5% during the fourth quarter. Allworth Financial LP now owns 1,001 shares of the company’s stock valued at $28,000 after acquiring an additional 639 shares during the last quarter. Harbour Investments Inc. boosted its position in FOX by 7,200.0% during the third quarter. Harbour Investments Inc. now owns 1,022 shares of the company’s stock valued at $30,000 after acquiring an additional 1,008 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its position in FOX by 286.7% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,160 shares of the company’s stock valued at $32,000 after acquiring an additional 860 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 report on Wednesday, February 7th.

FOX Company Profile

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.