88,393 Shares in News Corporation (NASDAQ:NWSA) Acquired by Long Corridor Asset Management Ltd

Key Points

• Long Corridor Asset Management Ltd has acquired a new stake in News Corporation, purchasing 88,393 shares valued at approximately $2.4 million, which constitutes about 1.8% of its investment portfolio.
• Several institutional investors have increased their holdings in News, with Mather Group LLC leading with a 10.4% increase in shares during the first quarter.
• News Corporation has announced a $0.10 dividend to be paid on October 8th, with an ex-dividend date of September 10th, representing a 70.0% dividend yield.

Long Corridor Asset Management Ltd acquired a new position in News Corporation (NASDAQ:NWSA - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 88,393 shares of the company's stock, valued at approximately $2,406,000. News accounts for 1.8% of Long Corridor Asset Management Ltd's investment portfolio, making the stock its 13th biggest holding.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Optiver Holding B.V. purchased a new stake in shares of News during the 4th quarter valued at about $31,000. Sentry Investment Management LLC purchased a new stake in shares of News during the first quarter valued at approximately $36,000. Caitong International Asset Management Co. Ltd lifted its position in shares of News by 12,084.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,584 shares of the company's stock worth $43,000 after purchasing an additional 1,571 shares in the last quarter. CX Institutional purchased a new position in shares of News in the first quarter valued at $76,000. Finally, Versant Capital Management Inc grew its holdings in News by 714.9% during the 1st 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 in the last quarter. 66.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on NWSA shares. Macquarie reissued a "neutral" rating and issued a $32.70 price objective on shares of News in a research report on Wednesday, August 6th. Guggenheim restated a "buy" rating and set a $45.00 price objective on shares of News in a research note on Thursday, May 15th. Finally, Wall Street Zen lowered News from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, News currently has a consensus rating of "Moderate Buy" and an average price target of $38.34.

News Stock Down 1.1%

News stock traded down $0.33 during midday trading on Friday, hitting $29.47. The stock had a trading volume of 7,741,770 shares, compared to its average volume of 3,240,672. The company has a current ratio of 1.84, a quick ratio of 1.72 and a debt-to-equity ratio of 0.21. The business has a fifty day moving average price of $29.10 and a 200 day moving average price of $28.10. News Corporation has a 12 month low of $23.38 and a 12 month high of $30.75. The stock has a market cap of $16.68 billion, a P/E ratio of 14.17 and a beta of 1.23.

News (NASDAQ:NWSA - Get Free Report) last posted 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 business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.09 billion. News had a return on equity of 5.66% and a net margin of 13.21%. The business's revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.17 EPS. Research analysts predict that News Corporation will post 0.94 EPS for the current year.

News Announces Dividend

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

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.