Ghisallo Capital Management LLC Purchases New Position in News Corporation $NWS

Key Points

• Ghisallo Capital Management LLC opened a new position in News Corporation in Q3, acquiring 126,148 shares valued at about $4.36 million.
• Quarterly results: News reported $0.40 EPS (vs. $0.25 consensus) and $2.31 billion in revenue for the quarter, and analysts expect about 1.03 EPS for the current fiscal year.
• Dividend announced: News will pay a $0.10 per share dividend on April 8 to shareholders of record March 11; the article cites a reported dividend yield of 73.0% and a dividend payout ratio of 9.85%.

Ghisallo Capital Management LLC acquired a new position in News Corporation (NASDAQ:NWS - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 126,148 shares of the company's stock, valued at approximately $4,358,000.

Several other hedge funds have also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC raised its holdings in shares of News by 2.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 17,032 shares of the company's stock valued at $588,000 after acquiring an additional 337 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in News by 7.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,983 shares of the company's stock valued at $162,000 after acquiring an additional 338 shares in the last quarter. iA Global Asset Management Inc. increased its position in News by 8.9% during the 3rd quarter. iA Global Asset Management Inc. now owns 4,480 shares of the company's stock valued at $155,000 after purchasing an additional 367 shares during the period. Asset Management One Co. Ltd. raised its holdings in News by 10.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 4,014 shares of the company's stock worth $139,000 after purchasing an additional 386 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of News by 15.5% in the 3rd quarter. Bessemer Group Inc. now owns 3,027 shares of the company's stock worth $104,000 after purchasing an additional 406 shares during the period. 14.63% of the stock is owned by hedge funds and other institutional investors.

News Stock Performance

Shares of NWS stock opened at $26.76 on Friday. The company's fifty day moving average price is $28.32 and its 200-day moving average price is $29.94. The stock has a market cap of $14.86 billion, a PE ratio of 13.18 and a beta of 0.96. The company has a current ratio of 1.81, a quick ratio of 1.69 and a debt-to-equity ratio of 0.20. News Corporation has a 12 month low of $25.49 and a 12 month high of $35.58.

News (NASDAQ:NWS - Get Free Report) last issued its quarterly earnings results on Thursday, February 5th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.15. News had a net margin of 13.35% and a return on equity of 5.94%. The company had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.30 billion. On average, equities analysts expect that News Corporation will post 1.03 EPS for the current fiscal year.

News Announces Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 11th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a dividend yield of 73.0%. News's dividend payout ratio (DPR) is currently 9.85%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on NWS shares. Weiss Ratings raised shares of News from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday. Zacks Research raised News from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Strong Buy".

About News

News Corporation NASDAQ: NWS is a global media and information services company engaged in news and digital real estate, book publishing and other media businesses. The company's operations include print and digital newsbrands, business and financial information services, consumer platforms for property listings, and a major book publishing arm. Through its subsidiaries and brands, News Corp produces news content, market and financial reporting, online real-estate marketplaces and trade and consumer publishing products.

Key areas of activity include news and information, where the company publishes national and regional newspapers and operates business information services; book publishing through a well-known global publisher; and property-related digital businesses that operate online marketplaces for real estate listings.

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