Irenic Capital Management LP Has $22.54 Million Stock Holdings in News Corporation $NWS

Key Points

• Irenic Capital Management LP reduced its shareholding in News Corporation by approximately 46.2% in the first quarter, holding 742,009 shares valued at around $22.54 million.
• News Corporation's stock received a "strong sell" rating from Zacks Research, with current equity analysts maintaining a consensus rating of "Buy."
• The company recently announced a semi-annual dividend of $0.10, set to be paid on October 8th, which reflects a 60.0% dividend yield.

Irenic Capital Management LP lessened its holdings in shares of News Corporation (NASDAQ:NWS - Free Report) by 46.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 742,009 shares of the company's stock after selling 638,252 shares during the period. News accounts for 3.4% of Irenic Capital Management LP's holdings, making the stock its 10th biggest holding. Irenic Capital Management LP owned about 0.13% of News worth $22,535,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Resona Asset Management Co. Ltd. increased its position in News by 75.3% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 964 shares of the company's stock valued at $29,000 after buying an additional 414 shares in the last quarter. CWM LLC increased its position in News by 9.6% in the 1st quarter. CWM LLC now owns 4,837 shares of the company's stock valued at $147,000 after buying an additional 425 shares in the last quarter. Asset Management One Co. Ltd. increased its position in News by 20.3% in the 1st quarter. Asset Management One Co. Ltd. now owns 3,210 shares of the company's stock valued at $97,000 after buying an additional 542 shares in the last quarter. Wedmont Private Capital increased its position in News by 7.7% in the 1st quarter. Wedmont Private Capital now owns 8,578 shares of the company's stock valued at $259,000 after buying an additional 615 shares in the last quarter. Finally, Mather Group LLC. increased its position in shares of News by 14.9% during the first quarter. Mather Group LLC. now owns 6,711 shares of the company's stock worth $204,000 after acquiring an additional 869 shares in the last quarter. 14.63% of the stock is currently owned by institutional investors.

News Stock Performance

Shares of NWS stock traded up $0.28 during trading on Thursday, reaching $33.17. 685,161 shares of the company's stock traded hands, compared to its average volume of 755,808. News Corporation has a 1 year low of $26.25 and a 1 year high of $35.58. The company has a current ratio of 1.84, a quick ratio of 1.72 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $18.74 billion, a P/E ratio of 15.95 and a beta of 1.18. The firm's 50-day moving average is $33.97 and its 200 day moving average is $32.37.

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, topping 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 business had revenue of $2.11 billion for the quarter, compared to analysts' expectations of $2.09 billion. Equities research analysts expect that News Corporation will post 1.03 EPS for the current year.

News Announces Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, October 8th. Stockholders of record on Wednesday, September 10th will be given 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 (DPR) is 9.62%.

Wall Street Analyst Weigh In

Separately, Zacks Research raised shares of News to a "strong sell" rating in a research report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy".

About News

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.