Corient Private Wealth LP Raises Stock Position in News Corporation $NWSA

Key Points

• Corient Private Wealth increased its News Corp. stake by 40.1% in the second quarter, bringing its holdings to 130,306 shares valued at approximately $3.24 million. Institutional investors collectively own 66.97% of the company.
• News Corp. reported quarterly earnings of $0.35 per share, exceeding the $0.21 analyst estimate, while revenue rose 10.8% year over year to $2.34 billion.
• Analyst sentiment remains positive, with five Buy ratings and one Hold rating, a “Moderate Buy” consensus, and an average price target of $38.50 versus the stock’s reported $29.78 price.

Corient Private Wealth LP increased its position in shares of News Corporation (NASDAQ:NWSA - Free Report) by 40.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 130,306 shares of the company's stock after acquiring an additional 37,326 shares during the period. Corient Private Wealth LP's holdings in News were worth $3,236,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of NWSA. Elevation Wealth Partners LLC lifted its stake in News by 282.7% during the second quarter. Elevation Wealth Partners LLC now owns 2,032 shares of the company's stock worth $50,000 after purchasing an additional 1,501 shares during the last quarter. Root Financial Partners LLC boosted its stake in News by 96.2% in the first quarter. Root Financial Partners LLC now owns 2,188 shares of the company's stock worth $55,000 after buying an additional 1,073 shares in the last quarter. Leonteq Securities AG bought a new position in News during the fourth quarter valued at approximately $80,000. Huntington National Bank boosted its position in News by 150.5% during the fourth quarter. Huntington National Bank now owns 3,475 shares of the company's stock valued at $91,000 after buying an additional 2,088 shares during the period. Finally, Havemeyer Place LP bought a new position in shares of News during the fourth quarter valued at about $94,000. Institutional investors own 66.97% of the company's stock.

News Price Performance

NASDAQ:NWSA opened at $29.78 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.62 and a quick ratio of 1.51. The firm's 50-day moving average price is $29.19 and its 200-day moving average price is $26.85. The company has a market capitalization of $16.11 billion, a PE ratio of 28.91 and a beta of 0.91. News Corporation has a 1-year low of $22.20 and a 1-year high of $31.66.

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

News Announces Dividend

The company also recently declared a dividend, which will be paid on Wednesday, October 7th. Investors of record on Wednesday, September 9th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a dividend yield of 68.0%. News's dividend payout ratio (DPR) is 19.42%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NWSA. Morgan Stanley reissued an "overweight" rating and set a $35.00 price target on shares of News in a research report on Thursday, August 6th. Zacks Research cut News from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 7th. Weiss Ratings upgraded News from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, July 16th. Finally, JPMorgan Chase & Co. boosted their target price on News from $36.00 to $38.00 and gave the company an "overweight" rating in a research note on Friday, August 21st. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $38.50.

News Company Profile

News Corp is a global media and information-services company headquartered in New York. The company owns and operates businesses in news, publishing, digital real estate services and subscription-based information products, serving consumers, businesses and professional audiences across multiple markets.

Its portfolio includes Dow Jones, which provides business news, financial information and research through publications and services such as The Wall Street Journal and Barron's; News UK, publisher of The Times, The Sunday Times and The Sun; and News Corp Australia, which operates newspapers and digital media brands.

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