Fox Corporation (NASDAQ:FOX) Short Interest Down 24.8% in May

Fox Corporation (NASDAQ:FOX) was the recipient of a significant drop in short interest in the month of May. As of May 31st, there was short interest totalling 3,480,000 shares, a drop of 24.8% from the May 15th total of 4,630,000 shares. Based on an average daily volume of 1,360,000 shares, the short-interest ratio is presently 2.6 days. Approximately 2.6% of the shares of the stock are short sold.

FOX Stock Up 1.2%

NASDAQ:FOX opened at $50.22 on Friday. The stock’s fifty day moving average price is $48.44 and its two-hundred day moving average price is $48.40. FOX has a 52-week low of $31.17 and a 52-week high of $55.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.33 and a current ratio of 2.45. The company has a market cap of $22.58 billion, a price-to-earnings ratio of 12.49, a P/E/G ratio of 1.09 and a beta of 0.56.

FOX (NASDAQ:FOX) last issued its earnings results on Monday, May 12th. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $0.96 by $0.14. The company had revenue of $4.37 billion during the quarter, compared to analysts’ expectations of $4.19 billion. FOX had a net margin of 11.58% and a return on equity of 17.99%. On average, analysts anticipate that FOX will post 4.25 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Steven Tomsic sold 39,642 shares of FOX stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $55.30, for a total value of $2,192,202.60. Following the completion of the transaction, the chief financial officer now owns 133,923 shares in the company, valued at approximately $7,405,941.90. The trade was a 22.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 23.06% of the company’s stock.

Institutional Trading of FOX

Institutional investors and hedge funds have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC bought a new stake in shares of FOX during the 4th quarter valued at $201,000. Ensign Peak Advisors Inc raised its position in shares of FOX by 91.7% during the 4th quarter. Ensign Peak Advisors Inc now owns 39,427 shares of the company’s stock valued at $1,803,000 after acquiring an additional 18,865 shares during the last quarter. CMC Financial Group bought a new stake in shares of FOX during the 4th quarter valued at $243,000. Raymond James Financial Inc. bought a new stake in shares of FOX during the 4th quarter valued at $1,295,000. Finally, Rhumbline Advisers raised its position in shares of FOX by 8.5% during the 1st quarter. Rhumbline Advisers now owns 278,772 shares of the company’s stock valued at $14,694,000 after acquiring an additional 21,842 shares during the last quarter. Institutional investors own 26.41% of the company’s stock.

About FOX

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.