Global Endowment Management LP reduced its position in News Corporation (NASDAQ:NWS - Free Report) by 55.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,554 shares of the company's stock after selling 9,229 shares during the period. Global Endowment Management LP's holdings in News were worth $229,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in NWS. American Century Companies Inc. grew its stake in shares of News by 2.9% during the first quarter. American Century Companies Inc. now owns 30,766 shares of the company's stock valued at $934,000 after buying an additional 870 shares during the last quarter. Aberdeen Group plc lifted its holdings in shares of News by 98.0% during the 1st quarter. Aberdeen Group plc now owns 92,719 shares of the company's stock valued at $2,792,000 after purchasing an additional 45,885 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of News by 150.3% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,925 shares of the company's stock valued at $58,000 after purchasing an additional 1,156 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of News by 26.1% in the 1st quarter. Russell Investments Group Ltd. now owns 14,872 shares of the company's stock valued at $452,000 after acquiring an additional 3,082 shares during the period. Finally, Resona Asset Management Co. Ltd. grew its position in News by 75.3% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 964 shares of the company's stock worth $29,000 after purchasing an additional 414 shares during the period. 14.63% of the stock is owned by institutional investors.
News Stock Down 0.9%
Shares of News stock traded down $0.3150 during trading on Wednesday, hitting $34.2550. 322,467 shares of the stock were exchanged, compared to its average volume of 762,584. News Corporation has a 12-month low of $26.25 and a 12-month high of $35.58. The stock has a market cap of $19.35 billion, a price-to-earnings ratio of 16.46 and a beta of 1.23. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.84 and a quick ratio of 1.72. The firm's 50-day moving average price is $33.61 and its 200 day moving average price is $32.33.
News (NASDAQ:NWS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.01. News had a net margin of 13.21% and a return on equity of 5.66%. The firm had revenue of $2.11 billion during the quarter, compared to analysts' expectations of $2.09 billion. As a group, analysts forecast that News Corporation will post 1.03 earnings per share for the current fiscal year.
News Dividend Announcement
The company also recently declared a semi-annual dividend, which will be paid on Wednesday, October 8th. Stockholders of record on Wednesday, September 10th will be paid a dividend of $0.10 per share. This represents a dividend yield of 60.0%. The ex-dividend date is Wednesday, September 10th. News's payout ratio is 9.62%.
Analyst Ratings Changes
Separately, Zacks Research raised shares of News to a "strong sell" rating in a research note on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy".
View Our Latest Stock Report on NWS
News Company Profile
(
Free Report)
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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