News Corporation $NWSA Shares Bought by Millennium Management LLC

Key Points

• Millennium Management LLC increased its holdings in News Corporation by 75%, acquiring an additional 499,654 shares in the first quarter.
• News Corporation reported earnings of $0.19 per share for the last quarter, matching analysts' expectations, and had revenue of $2.11 billion.
• The company has declared a dividend of $0.10 per share to be paid on October 8th, with an ex-dividend date of September 10th.

Millennium Management LLC raised its holdings in News Corporation (NASDAQ:NWSA - Free Report) by 75.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,165,444 shares of the company's stock after buying an additional 499,654 shares during the period. Millennium Management LLC owned about 0.21% of News worth $31,723,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sentry Investment Management LLC acquired a new stake in News in the first quarter valued at $36,000. Caitong International Asset Management Co. Ltd raised its stake in News by 12,084.6% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,584 shares of the company's stock valued at $43,000 after buying an additional 1,571 shares in the last quarter. SVB Wealth LLC acquired a new stake in News in the first quarter valued at $73,000. CX Institutional purchased a new position in shares of News during the first quarter worth about $76,000. Finally, Versant Capital Management Inc grew its holdings in shares of News by 714.9% during the first quarter. Versant Capital Management Inc now owns 4,433 shares of the company's stock worth $121,000 after purchasing an additional 3,889 shares during the last quarter. 66.97% of the stock is currently owned by institutional investors and hedge funds.

News Stock Performance

NASDAQ NWSA opened at $28.77 on Thursday. 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 52-week low of $23.38 and a 52-week high of $30.75. The business's 50-day moving average price is $29.44 and its 200 day moving average price is $28.16. The firm has a market cap of $16.25 billion, a P/E ratio of 13.83 and a beta of 1.18.

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 analysts' consensus estimates of $0.19. News had a return on equity of 5.66% and a net margin of 13.21%.The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter last year, the company posted $0.17 earnings per share. The business's revenue was up .8% on a year-over-year basis. On average, equities research analysts expect that News Corporation will post 0.94 earnings per share for the current year.

News Announces Dividend

The business also recently declared a half year 25 dividend, which will be paid on Wednesday, October 8th. Investors of record on Wednesday, September 10th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a dividend yield of 70.0%. News's dividend payout ratio (DPR) is currently 9.62%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wall Street Zen cut News from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Guggenheim reissued a "buy" rating and issued a $45.00 target price on shares of News in a research report on Thursday, May 15th. JPMorgan Chase & Co. upped their target price on News from $38.00 to $40.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. Finally, Macquarie reissued a "neutral" rating and issued a $32.70 target price on shares of News in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, News currently has a consensus rating of "Buy" and an average target price of $38.62.

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.

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