Bayforest Capital Ltd Purchases New Stake in News Corporation $NWSA

Key Points

• Bayforest Capital Ltd has invested approximately $515,000 in News Corporation, acquiring 18,925 shares in their initial purchase.
• Analysts have mixed views on News Corporation, with ratings ranging from a "Strong Buy" to "Hold", and a consensus price target of $38.62.
• News Corporation recently announced a $0.10 per share dividend, which will be payable on October 8th, with a dividend yield of 68.0%.

Bayforest Capital Ltd purchased a new stake in News Corporation (NASDAQ:NWSA - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 18,925 shares of the company's stock, valued at approximately $515,000.

Several other large investors also recently added to or reduced their stakes in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in News by 8.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,950,721 shares of the company's stock valued at $53,099,000 after buying an additional 154,348 shares during the period. Rivermont Capital Management LP boosted its stake in News by 52.5% during the first quarter. Rivermont Capital Management LP now owns 940,934 shares of the company's stock valued at $25,612,000 after buying an additional 323,757 shares during the period. Empowered Funds LLC bought a new stake in News during the first quarter valued at $204,000. United Services Automobile Association purchased a new position in News in the 1st quarter worth approximately $206,000. Finally, Great Lakes Advisors LLC purchased a new position in News in the 1st quarter worth approximately $3,721,000. Institutional investors own 66.97% of the company's stock.

News Trading Down 1.0%

Shares of NASDAQ NWSA traded down $0.29 during midday trading on Friday, reaching $29.23. The company had a trading volume of 4,751,894 shares, compared to its average volume of 3,604,052. News Corporation has a one year low of $23.38 and a one year high of $30.75. The company has a quick ratio of 1.72, a current ratio of 1.84 and a debt-to-equity ratio of 0.21. The firm's fifty day moving average price is $29.44 and its 200-day moving average price is $28.17. The stock has a market cap of $16.51 billion, a PE ratio of 14.05 and a beta of 1.18.

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

News Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Macquarie reissued a "neutral" rating and issued a $32.70 price target on shares of News in a research note on Wednesday, August 6th. JPMorgan Chase & Co. lifted their price target on News from $38.00 to $40.00 and gave the stock 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. Finally, Guggenheim reaffirmed a "buy" rating and set a $45.00 price target on shares of News in a research note on Thursday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $38.62.

News Profile

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.