News Corporation $NWS Shares Sold by Global Endowment Management LP

Key Points

• Global Endowment Management LP reduced its stake in News Corporation by 55.0%, now holding 7,554 shares valued at $229,000.
• Other investors like First Horizon Advisors Inc. significantly increased their stakes, reflecting mixed investor sentiment towards the company.
• News Corporation recently declared a semi-annual dividend of $0.10 per share, with a dividend payout ratio of 9.62%.

Global Endowment Management LP cut its position in News Corporation (NASDAQ:NWS - Free Report) by 55.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund 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 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Resona Asset Management Co. Ltd. boosted its position in shares of News by 75.3% in the first 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. CWM LLC boosted its position in shares of News by 9.6% in the first quarter. CWM LLC now owns 4,837 shares of the company's stock worth $147,000 after purchasing an additional 425 shares during the period. MetLife Investment Management LLC boosted its position in shares of News by 1.5% in the fourth quarter. MetLife Investment Management LLC now owns 29,660 shares of the company's stock worth $903,000 after purchasing an additional 450 shares during the period. Asset Management One Co. Ltd. boosted its position in shares of News by 20.3% in the first quarter. Asset Management One Co. Ltd. now owns 3,210 shares of the company's stock worth $97,000 after purchasing an additional 542 shares during the period. Finally, Wedmont Private Capital boosted its position in shares of News by 7.7% in the first quarter. Wedmont Private Capital now owns 8,578 shares of the company's stock worth $259,000 after purchasing an additional 615 shares during the period. 14.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded shares of News to a "strong sell" rating in a research report 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 stock. According to data from MarketBeat.com, News currently has an average rating of "Buy".

News Stock Up 0.3%

Shares of NASDAQ:NWS traded up $0.0950 during trading on Thursday, reaching $34.3150. The stock had a trading volume of 130,972 shares, compared to its average volume of 759,944. The firm's 50-day simple moving average is $33.65 and its 200 day simple moving average is $32.34. The company has a market capitalization of $19.39 billion, a P/E ratio of 16.50 and a beta of 1.23. The company has a current ratio of 1.84, a quick ratio of 1.72 and a debt-to-equity ratio of 0.21. News Corporation has a one year low of $26.25 and a one year high of $35.58.

News (NASDAQ:NWS - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate 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, research analysts expect that News Corporation will post 1.03 EPS for the current fiscal year.

News Dividend Announcement

The company also recently announced a semi-annual dividend, which will be paid on Wednesday, October 8th. Investors 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 dividend payout ratio is presently 9.62%.

News Company 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.