Forsta AP Fonden Buys 122,000 Shares of News Corporation (NASDAQ:NWSA)

Key Points

• Forsta AP Fonden significantly increased its stake in News Corporation by 181.5% during Q1, owning 189,200 shares valued at approximately $5.15 million.
• News Corporation reported a net margin of 13.21% and earnings per share (EPS) of $0.19 for the last quarter, meeting analysts' expectations.
• The company declared a dividend of $0.10 per share to be paid on October 8, 2023, showing a dividend yield of 70.0%.

Forsta AP Fonden boosted its position in shares of News Corporation (NASDAQ:NWSA - Free Report) by 181.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 189,200 shares of the company's stock after buying an additional 122,000 shares during the period. Forsta AP Fonden's holdings in News were worth $5,150,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Optiver Holding B.V. acquired a new stake in shares of News in the 4th quarter valued at approximately $31,000. Sentry Investment Management LLC acquired a new stake in shares of News in the 1st quarter valued at approximately $36,000. CX Institutional acquired a new stake in shares of News in the 1st quarter valued at approximately $76,000. Versant Capital Management Inc boosted its stake in shares of News by 714.9% in the 1st quarter. Versant Capital Management Inc now owns 4,433 shares of the company's stock valued at $121,000 after purchasing an additional 3,889 shares in the last quarter. Finally, Central Pacific Bank Trust Division boosted its stake in shares of News by 53.3% during the first quarter. Central Pacific Bank Trust Division now owns 4,600 shares of the company's stock valued at $125,000 after purchasing an additional 1,600 shares in the last quarter. 66.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Macquarie reiterated a "neutral" rating and set a $32.70 target price on shares of News in a research report on Wednesday, August 6th. Wall Street Zen downgraded shares of News from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Guggenheim reiterated a "buy" rating and set a $45.00 target price on shares of News in a research report on Thursday, May 15th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, News has a consensus rating of "Moderate Buy" and an average target price of $38.12.

News Trading Down 0.3%

News stock traded down $0.10 during mid-day trading on Friday, hitting $29.71. 1,118,929 shares of the stock were exchanged, compared to its average volume of 3,300,950. The company has a quick ratio of 1.72, a current ratio of 1.84 and a debt-to-equity ratio of 0.21. News Corporation has a 12 month low of $23.38 and a 12 month high of $30.75. The firm's fifty day simple moving average is $29.07 and its two-hundred day simple moving average is $28.09. The stock has a market capitalization of $16.82 billion, a price-to-earnings ratio of 14.29 and a beta of 1.23.

News (NASDAQ:NWSA - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.19. 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 analyst estimates of $2.09 billion. During the same quarter last year, the business earned $0.17 EPS. The company's revenue was up .8% compared to the same quarter last year. Analysts forecast that News Corporation will post 0.94 EPS for the current year.

News Dividend Announcement

The firm also recently announced a half year 25 dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 10th will be issued a $0.10 dividend. This represents a yield of 70.0%. The ex-dividend date is Wednesday, September 10th. News's payout ratio 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.