Element Capital Management LLC Takes $2.70 Million Position in News Corporation $NWSA

Key Points

• Element Capital Management LLC acquired 99,318 shares of News Corporation (NASDAQ:NWSA) valued at approximately $2.7 million during the first quarter.
• News Corporation reported earnings of $0.19 per share for the last quarter, meeting analysts' expectations, with revenue increasing by 0.8% year-over-year.
• The company declared a dividend of $0.10 per share, which has a yield of 70.0%, to be paid on October 8th.

Element Capital Management LLC acquired a new stake in News Corporation (NASDAQ:NWSA - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 99,318 shares of the company's stock, valued at approximately $2,703,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Optiver Holding B.V. bought a new stake in News in the fourth quarter valued at about $31,000. Sentry Investment Management LLC bought a new stake in News in the first quarter valued at about $36,000. Caitong International Asset Management Co. Ltd increased its holdings in News by 12,084.6% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,584 shares of the company's stock valued at $43,000 after purchasing an additional 1,571 shares during the last quarter. CX Institutional bought a new stake in News in the first quarter valued at about $76,000. Finally, Versant Capital Management Inc increased its holdings in News by 714.9% in 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 during the last quarter. Institutional investors own 66.97% of the company's stock.

News Stock Up 1.1%

Shares of NWSA traded up $0.32 during midday trading on Tuesday, hitting $29.85. The stock had a trading volume of 2,389,716 shares, compared to its average volume of 3,326,894. The company has a 50 day simple moving average of $29.13 and a two-hundred day simple moving average of $28.11. News Corporation has a twelve month low of $23.38 and a twelve month high of $30.75. The firm has a market cap of $16.86 billion, a price-to-earnings ratio of 14.35 and a beta of 1.23. 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 (NASDAQ:NWSA - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. The firm had revenue of $2.11 billion for 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 company's revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the business posted $0.17 EPS. On average, analysts anticipate that News Corporation will post 0.94 EPS for the current year.

News Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on NWSA shares. Macquarie reiterated a "neutral" rating and set a $32.70 target price on shares of News in a report on Wednesday, August 6th. Wall Street Zen lowered News from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Finally, Guggenheim reiterated a "buy" rating and set a $45.00 target price on shares of News in a report on Thursday, May 15th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $38.34.

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.