DoubleLine ETF Adviser LP Sells 10,161 Shares of News Corporation $NWSA

Key Points

• DoubleLine ETF Adviser LP reduced its stake in News Corporation by 17.4%, selling 10,161 shares during the first quarter, leaving them with 48,182 shares valued at approximately $1.31 million.
• Recent institutional activities included AXA S.A. increasing its holdings by 89.8%, while Ameriprise Financial Inc. raised its position by 13.0% in the last quarter, indicating increased interest from investors.
• News Corporation announced a $0.10 dividend to be paid on October 8th, reflecting a yield of 70.0%, with a low payout ratio of 9.62%.

DoubleLine ETF Adviser LP lowered its stake in News Corporation (NASDAQ:NWSA - Free Report) by 17.4% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 48,182 shares of the company's stock after selling 10,161 shares during the quarter. DoubleLine ETF Adviser LP's holdings in News were worth $1,312,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its stake in shares of News by 103.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 23,344 shares of the company's stock valued at $635,000 after acquiring an additional 11,898 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in News by 1.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,492,665 shares of the company's stock worth $122,290,000 after purchasing an additional 72,438 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of News by 1.3% during the first quarter. Bank of New York Mellon Corp now owns 3,081,305 shares of the company's stock worth $83,873,000 after acquiring an additional 39,342 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in News by 11.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,621 shares of the company's stock valued at $1,133,000 after acquiring an additional 4,332 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in shares of News by 133.1% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 208,218 shares of the company's stock valued at $5,668,000 after buying an additional 118,908 shares during the period. 66.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

News Stock Performance

News stock traded down $0.61 during trading hours on Tuesday, hitting $29.33. The company had a trading volume of 6,061,690 shares, compared to its average volume of 3,315,859. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.84 and a quick ratio of 1.72. News Corporation has a one year low of $23.38 and a one year high of $30.75. The firm has a 50-day moving average of $29.46 and a 200 day moving average of $28.14. The firm has a market cap of $16.57 billion, a PE ratio of 14.09 and a beta of 1.18.

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, meeting analysts' consensus estimates of $0.19. The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.09 billion. News had a net margin of 13.21% and a return on equity of 5.66%. The company's quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the business posted $0.17 earnings per share. On average, sell-side analysts expect that News Corporation will post 0.94 earnings per share for the current year.

News Dividend Announcement

The firm also recently announced a half year 25 dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 10th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a dividend yield of 70.0%. News's dividend payout ratio (DPR) 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.