Metropolis Capital Ltd Acquires 747,744 Shares of News Corporation $NWSA

Key Points

• Metropolis Capital Ltd increased its stake in News Corporation by 15.1% during Q2, acquiring an additional 747,744 shares, bringing its total holdings to approximately 5.69 million shares valued at $169.2 million.
• Various hedge funds have also significantly modified their positions, with Robeco Institutional Asset Management increasing its holdings by 1,025.4% to approximately 1.9 million shares.
• News Corporation recently announced a dividend of $0.10 per share, representing a yield of 70.0%, with scheduled payments starting October 8th.

Metropolis Capital Ltd boosted its holdings in News Corporation (NASDAQ:NWSA - Free Report) by 15.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,694,353 shares of the company's stock after acquiring an additional 747,744 shares during the quarter. News accounts for approximately 5.4% of Metropolis Capital Ltd's investment portfolio, making the stock its 9th biggest holding. Metropolis Capital Ltd owned 1.01% of News worth $169,236,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of NWSA. Robeco Institutional Asset Management B.V. grew its holdings in News by 1,025.4% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,904,943 shares of the company's stock worth $56,615,000 after buying an additional 1,735,668 shares in the last quarter. V Square Quantitative Management LLC raised its holdings in shares of News by 17.2% in the second quarter. V Square Quantitative Management LLC now owns 6,207 shares of the company's stock valued at $184,000 after purchasing an additional 912 shares during the last quarter. Patton Fund Management Inc. bought a new stake in News in the 2nd quarter worth about $241,000. CX Institutional increased its stake in News by 143.7% in the 2nd quarter. CX Institutional now owns 6,782 shares of the company's stock valued at $202,000 after buying an additional 3,999 shares during the last quarter. Finally, Hartford Investment Management Co. lifted its position in shares of News by 5.4% during the 2nd quarter. Hartford Investment Management Co. now owns 24,310 shares of the company's stock worth $722,000 after buying an additional 1,242 shares in the last quarter. Hedge funds and other institutional investors own 66.97% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NWSA. Macquarie reissued a "neutral" rating and issued a $32.70 price target on shares of News in a report on Wednesday, August 6th. JPMorgan Chase & Co. lifted their price objective on shares of News from $38.00 to $40.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $38.62.

News Price Performance

NASDAQ NWSA opened at $28.95 on Thursday. 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 company has a market cap of $16.36 billion, a PE ratio of 13.92 and a beta of 1.17. News Corporation has a 52 week low of $23.38 and a 52 week high of $31.61. The firm's 50-day simple moving average is $29.63 and its two-hundred day simple moving average is $28.40.

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

News Dividend Announcement

The business also recently declared a half year 25 dividend, which will be paid on Wednesday, October 8th. Stockholders of record on Wednesday, September 10th will be issued a $0.10 dividend. This represents a dividend yield of 70.0%. The ex-dividend date of this dividend is Wednesday, September 10th. News's dividend payout ratio (DPR) is presently 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.

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