AXQ Capital LP Makes New $2.12 Million Investment in News Corporation $NWSA

Key Points

• AXQ Capital initiated a $2.12 million position in News Corporation during the second quarter by purchasing 85,560 shares. Institutional investors collectively own approximately 66.97% of NWSA.
• News Corporation exceeded quarterly expectations, reporting adjusted EPS of $0.35 versus the $0.21 consensus and revenue of $2.34 billion, up 10.8% year over year.
• Analyst sentiment remains favorable, with five Buy ratings and one Hold rating producing a “Moderate Buy” consensus and an average price target of $38.50.

AXQ Capital LP purchased a new position in shares of News Corporation (NASDAQ:NWSA - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 85,560 shares of the company's stock, valued at approximately $2,124,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Swedbank AB grew its holdings in News by 77.3% during the 4th quarter. Swedbank AB now owns 192,326 shares of the company's stock worth $5,024,000 after acquiring an additional 83,821 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of News by 14.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 823,989 shares of the company's stock valued at $21,580,000 after acquiring an additional 102,259 shares during the last quarter. Sei Investments Co. raised its stake in shares of News by 120.6% during the first quarter. Sei Investments Co. now owns 2,326,616 shares of the company's stock valued at $58,002,000 after acquiring an additional 1,272,083 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of News by 2.3% during the first quarter. Dimensional Fund Advisors LP now owns 4,245,597 shares of the company's stock worth $105,842,000 after purchasing an additional 94,368 shares during the period. Finally, Qsemble Capital Management LP grew its stake in shares of News by 586.7% in the fourth quarter. Qsemble Capital Management LP now owns 322,919 shares of the company's stock worth $8,435,000 after purchasing an additional 275,895 shares during the last quarter. 66.97% of the stock is currently owned by institutional investors.

News Stock Down 1.8%

News stock opened at $30.39 on Friday. The firm has a 50 day simple moving average of $28.49 and a 200 day simple moving average of $26.37. The company has a current ratio of 1.62, a quick ratio of 1.51 and a debt-to-equity ratio of 0.22. News Corporation has a 1-year low of $22.20 and a 1-year high of $31.66. The firm has a market capitalization of $16.44 billion, a price-to-earnings ratio of 29.50 and a beta of 0.91.

News (NASDAQ:NWSA - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.21 by $0.14. The firm had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.25 billion. News had a net margin of 6.35% and a return on equity of 7.09%. The company's revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.19 earnings per share. On average, analysts predict that News Corporation will post 1.31 earnings per share for the current year.

News Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 9th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a dividend yield of 68.0%. News's dividend payout ratio is 19.42%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on NWSA shares. Zacks Research lowered News from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 7th. Wall Street Zen upgraded News from a "hold" rating to a "buy" rating in a research report on Saturday, May 16th. Citigroup decreased their price target on News from $39.00 to $38.00 and set a "buy" rating for the company in a research note on Wednesday, May 13th. Weiss Ratings raised News from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, July 16th. Finally, JPMorgan Chase & Co. upped their target price on News from $36.00 to $38.00 and gave the company an "overweight" rating in a report on Friday, August 21st. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, News has an average rating of "Moderate Buy" and a consensus price target of $38.50.

News Profile

News Corporation NASDAQ: NWSA is a global diversified media and information services company headquartered in New York City. It operates through two principal segments: News and Information Services, and Digital Real Estate Services. The company's news and information division oversees a portfolio of leading newspapers, magazines and digital platforms, offering content across print and online channels. Its properties include Dow Jones, publisher of The Wall Street Journal and Barron's, News UK titles such as The Times and The Sun, as well as News Corp Australia mastheads.

In addition to its journalism assets, News Corp is a significant player in book publishing through HarperCollins, one of the world's largest consumer publishers.

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