Kaufman Rossin Wealth LLC Buys New Position in News Corporation $NWSA

Key Points

• Kaufman Rossin Wealth LLC purchased 10,696 shares of News Corporation (NWSA) valued at approximately $318,000 in the second quarter.
• The company's most recent quarterly earnings reported an EPS of $0.19, matching analysts' expectations, with revenue of $2.11 billion.
• News Corporation announced a dividend of $0.10 per share, to be paid on October 8th, representing a dividend yield of 70.0%.

Kaufman Rossin Wealth LLC acquired a new stake in shares of News Corporation (NASDAQ:NWSA - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 10,696 shares of the company's stock, valued at approximately $318,000.

A number of other institutional investors also recently modified their holdings of the company. CX Institutional lifted its holdings in shares of News by 143.7% during the second quarter. CX Institutional now owns 6,782 shares of the company's stock valued at $202,000 after purchasing an additional 3,999 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of News by 1,338.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,271,263 shares of the company's stock valued at $37,782,000 after buying an additional 1,182,858 shares in the last quarter. Perpetual Ltd purchased a new stake in News in the 2nd quarter worth $649,000. Kingstone Capital Partners Texas LLC bought a new stake in shares of News in the 2nd quarter worth about $371,000. Finally, NorthCrest Asset Manangement LLC bought a new stake in shares of News in the 2nd quarter worth about $246,000. 66.97% of the stock is currently owned by hedge funds and other institutional investors.

News Price Performance

News stock traded down $0.28 during mid-day trading on Tuesday, hitting $30.54. 1,262,699 shares of the company were exchanged, compared to its average volume of 3,404,341. 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 business has a fifty day moving average of $29.54 and a 200 day moving average of $28.26. News Corporation has a 1-year low of $23.38 and a 1-year high of $30.95. The company has a market capitalization of $17.25 billion, a PE ratio of 14.68 and a beta of 1.18.

News (NASDAQ:NWSA - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.19 EPS for the quarter, hitting the consensus estimate of $0.19. The company had revenue of $2.11 billion for the quarter, compared to analysts' expectations of $2.09 billion. News had a return on equity of 5.66% and a net margin of 13.21%.The business's revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.17 earnings per share. As a group, sell-side analysts expect that News Corporation will post 0.94 earnings per share for the current year.

News Dividend Announcement

The business 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 $0.10 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a yield of 70.0%. News's dividend payout ratio is presently 9.62%.

Analysts Set New Price Targets

NWSA has been the topic of a number of research analyst reports. Macquarie restated a "neutral" rating and issued a $32.70 target price 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 report on Friday, May 30th. Finally, JPMorgan Chase & Co. increased their target price on shares of News from $38.00 to $40.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. 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 company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $38.62.

News Company 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.