NewEdge Advisors LLC Has $5.38 Million Stock Holdings in News Corporation $NWSA

Key Points

• NewEdge Advisors increased its News Corp. stake by 41% in the second quarter, ending with 216,552 shares valued at approximately $5.38 million. Institutional investors and hedge funds collectively own 66.97% of NWSA.
• News Corp. reported quarterly EPS of $0.35, beating estimates of $0.21, while revenue reached $2.34 billion and rose 10.8% year over year.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $38.50, compared with the stock’s reported price of $30.56.

NewEdge Advisors LLC lifted its holdings in shares of News Corporation (NASDAQ:NWSA - Free Report) by 41.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 216,552 shares of the company's stock after buying an additional 62,999 shares during the quarter. NewEdge Advisors LLC's holdings in News were worth $5,377,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of NWSA. California State Teachers Retirement System boosted its stake in News by 2,325.7% in the second quarter. California State Teachers Retirement System now owns 13,326,261 shares of the company's stock valued at $330,891,000 after buying an additional 12,776,882 shares in the last quarter. Norges Bank acquired a new position in News during the fourth quarter worth about $188,788,000. Metropolis Capital Ltd lifted its holdings in shares of News by 26.4% in the first quarter. Metropolis Capital Ltd now owns 8,835,157 shares of the company's stock worth $220,260,000 after acquiring an additional 1,843,900 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of News by 80.9% in the 1st quarter. Bank of America Corp DE now owns 4,069,041 shares of the company's stock valued at $101,441,000 after purchasing an additional 1,819,652 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in shares of News by 120.6% in the 1st quarter. Sei Investments Co. now owns 2,326,616 shares of the company's stock valued at $58,002,000 after purchasing an additional 1,272,083 shares in the last quarter. 66.97% of the stock is currently owned by institutional investors and hedge funds.

News Price Performance

News stock opened at $30.56 on Tuesday. The stock has a market capitalization of $16.53 billion, a price-to-earnings ratio of 29.67 and a beta of 0.91. News Corporation has a 52-week low of $22.20 and a 52-week high of $31.66. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.51 and a current ratio of 1.62. The stock's 50 day moving average price is $28.95 and its two-hundred day moving average price is $26.67.

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

News Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Wednesday, September 9th will be given a $0.10 dividend. This represents a yield of 68.0%. The ex-dividend date of this dividend is Wednesday, September 9th. News's dividend payout ratio is presently 19.42%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NWSA. JPMorgan Chase & Co. increased their price objective on shares of News from $36.00 to $38.00 and gave the company an "overweight" rating in a research note on Friday, August 21st. Weiss Ratings raised shares of News from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, July 16th. Zacks Research cut News from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 7th. Finally, Morgan Stanley reissued an "overweight" rating and set a $35.00 price objective 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 assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $38.50.

News Profile

News Corp is a global media and information-services company headquartered in New York. The company owns and operates businesses in news, publishing, digital real estate services and subscription-based information products, serving consumers, businesses and professional audiences across multiple markets.

Its portfolio includes Dow Jones, which provides business news, financial information and research through publications and services such as The Wall Street Journal and Barron's; News UK, publisher of The Times, The Sunday Times and The Sun; and News Corp Australia, which operates newspapers and digital media brands.

Want to see what other hedge funds are holding NWSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for News Corporation (NASDAQ:NWSA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.