AlphaQuest LLC Purchases 13,069 Shares of News Corporation $NWSA

Key Points

• AlphaQuest LLC increased its stake in News Corporation by 30.5%, acquiring an additional 13,069 shares, bringing its total holdings to 55,862 shares worth approximately $1.52 million.
• The company recently announced a $0.10 dividend that will be paid on October 8th, with an ex-dividend date of September 10th, indicating a yield of 70.0%.
• Analysts have set a consensus price target of $38.62 for News Corporation’s stock, with ratings ranging from a "Strong Buy" to "Hold".

AlphaQuest LLC raised its position in News Corporation (NASDAQ:NWSA - Free Report) by 30.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,862 shares of the company's stock after buying an additional 13,069 shares during the quarter. AlphaQuest LLC's holdings in News were worth $1,521,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Optiver Holding B.V. acquired a new position in News in the 4th quarter valued at $31,000. Sentry Investment Management LLC bought a new stake in shares of News during the 1st quarter worth $36,000. Caitong International Asset Management Co. Ltd lifted its position in shares of News by 12,084.6% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,584 shares of the company's stock worth $43,000 after buying an additional 1,571 shares during the last quarter. CX Institutional bought a new position in News in the first quarter valued at about $76,000. Finally, Versant Capital Management Inc boosted its stake in shares of News by 714.9% during the first quarter. Versant Capital Management Inc now owns 4,433 shares of the company's stock valued at $121,000 after purchasing an additional 3,889 shares in the last quarter. 66.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NWSA has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price target on News from $38.00 to $40.00 and gave the company an "overweight" rating in a research note on Wednesday, August 20th. Wall Street Zen lowered News from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Guggenheim reissued a "buy" rating and set a $45.00 price target on shares of News in a research note on Thursday, May 15th. Finally, Macquarie reaffirmed a "neutral" rating and issued a $32.70 price objective on shares of News in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, News currently has a consensus rating of "Buy" and an average price target of $38.62.

News Trading Down 0.7%

NWSA stock traded down $0.21 during mid-day trading on Thursday, reaching $29.46. The company's stock had a trading volume of 548,494 shares, compared to its average volume of 3,280,373. The company has a market cap of $16.64 billion, a price-to-earnings ratio of 14.16 and a beta of 1.23. The business's 50 day moving average price is $29.42 and its 200 day moving average price is $28.18. The company has a current ratio of 1.84, a quick ratio of 1.72 and a debt-to-equity ratio of 0.21. News Corporation has a 12 month low of $23.38 and a 12 month high of $30.75.

News (NASDAQ:NWSA - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share for the quarter, hitting analysts' consensus estimates of $0.19. The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.09 billion. News had a return on equity of 5.66% and a net margin of 13.21%.The firm's revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the company posted $0.17 earnings per share. On average, equities research analysts predict that News Corporation will post 0.94 EPS for the current year.

News Dividend Announcement

The company also recently disclosed a half year 25 dividend, which will be paid on Wednesday, October 8th. Stockholders of record on Wednesday, September 10th will be issued a dividend of $0.10 per share. The ex-dividend date is Wednesday, September 10th. This represents a dividend yield of 70.0%. News's payout ratio is currently 9.62%.

About News

News Corporation, a media and information services company, creates and distributes authoritative and engaging content, and other products and services for consumers and businesses worldwide. It operates through six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.