Maven Securities LTD Increases Position in News Corporation $NWSA

Key Points

• Maven Securities increased its News Corporation stake by 21.9% in the second quarter, holding 271,079 shares valued at approximately $6.7 million. Institutional investors collectively own 66.97% of the company.
• Analysts maintain a generally positive outlook, with five Buy ratings and one Hold rating producing a consensus “Moderate Buy” rating and an average price target of $38.50.
• News Corporation exceeded quarterly expectations, reporting $0.35 in adjusted earnings per share versus the $0.21 estimate and revenue of $2.34 billion, up 10.8% year over year. The company also declared a $0.10-per-share dividend.

Maven Securities LTD grew its holdings in shares of News Corporation (NASDAQ:NWSA - Free Report) by 21.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 271,079 shares of the company's stock after purchasing an additional 48,622 shares during the period. Maven Securities LTD owned approximately 0.05% of News worth $6,731,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. CYBER HORNET ETFs LLC purchased a new position in News during the second quarter valued at $30,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of News in the third quarter worth $31,000. Advisory Services Network LLC purchased a new position in shares of News in the 3rd quarter worth about $35,000. Brown Brothers Harriman & Co. boosted its stake in News by 154.5% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,285 shares of the company's stock worth $39,000 after purchasing an additional 780 shares in the last quarter. Finally, Global Retirement Partners LLC grew its position in News by 561.1% during the 4th quarter. Global Retirement Partners LLC now owns 1,732 shares of the company's stock valued at $45,000 after purchasing an additional 1,470 shares during the last quarter. 66.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NWSA. JPMorgan Chase & Co. upped their target price on shares of News from $36.00 to $38.00 and gave the stock an "overweight" rating in a research note on Friday, August 21st. Zacks Research lowered shares of News from a "strong-buy" rating to a "hold" rating in a report on Friday, August 7th. Citigroup cut their target price on News from $39.00 to $38.00 and set a "buy" rating on the stock in a research note on Wednesday, May 13th. Wall Street Zen raised News from a "hold" rating to a "buy" rating in a report on Saturday, May 16th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $35.00 price target on shares of News in a report on Thursday, August 6th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.50.

News Stock Down 1.9%

Shares of News stock opened at $29.82 on Wednesday. News Corporation has a twelve month low of $22.20 and a twelve month high of $31.66. The company has a quick ratio of 1.51, a current ratio of 1.62 and a debt-to-equity ratio of 0.22. The company's 50 day moving average is $28.69 and its 200 day moving average is $26.49. The company has a market cap of $16.13 billion, a price-to-earnings ratio of 28.95 and a beta of 0.91.

News (NASDAQ:NWSA - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.14. The business had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.25 billion. News had a net margin of 6.35% and a return on equity of 7.09%. The firm's revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.19 EPS. Research analysts anticipate that News Corporation will post 1.31 EPS for the current year.

News Announces Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, October 7th. Investors of record on Wednesday, September 9th will be given a dividend of $0.10 per share. This represents a yield of 67.0%. The ex-dividend date is Wednesday, September 9th. News's dividend payout ratio is 19.42%.

News Company Profile

News Corporation NASDAQ: NWSA is a global diversified media and information services company headquartered in New York City. It operates through two principal segments: News and Information Services, and Digital Real Estate Services. The company's news and information division oversees a portfolio of leading newspapers, magazines and digital platforms, offering content across print and online channels. Its properties include Dow Jones, publisher of The Wall Street Journal and Barron's, News UK titles such as The Times and The Sun, as well as News Corp Australia mastheads.

In addition to its journalism assets, News Corp is a significant player in book publishing through HarperCollins, one of the world's largest consumer publishers.

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