Ieq Capital LLC Boosts Stake in News Corporation $NWSA

Key Points

• Ieq Capital LLC increased its stake in News Corporation by 167.2%, owning 74,343 shares worth approximately $2,024,000 following a significant purchase during the first quarter.
• News Corporation recently announced a $0.10 dividend set to be paid on October 8th, with a dividend yield of 70.0%.
• According to analysts, the stock has an average rating of "Buy" with a target price of $38.62, while Guggenheim set a price objective of $45.00.

Ieq Capital LLC raised its holdings in News Corporation (NASDAQ:NWSA - Free Report) by 167.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 74,343 shares of the company's stock after buying an additional 46,518 shares during the quarter. Ieq Capital LLC's holdings in News were worth $2,024,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Sentry Investment Management LLC bought a new stake in shares of News in the 1st quarter worth approximately $36,000. Caitong International Asset Management Co. Ltd grew its position in shares of News by 12,084.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,584 shares of the company's stock worth $43,000 after buying an additional 1,571 shares during the last quarter. SVB Wealth LLC bought a new stake in shares of News in the 1st quarter worth approximately $73,000. CX Institutional bought a new stake in shares of News in the 1st quarter worth approximately $76,000. Finally, Versant Capital Management Inc lifted 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 during the period. 66.97% of the stock is currently owned by institutional investors.

News Stock Up 0.5%

NASDAQ:NWSA traded up $0.14 during trading hours on Friday, reaching $29.44. 3,321,312 shares of the company traded hands, compared to its average volume of 3,093,407. The business's 50-day moving average price is $29.46 and its two-hundred day moving average price is $28.14. The stock has a market capitalization of $16.63 billion, a P/E ratio of 14.15 and a beta of 1.18. News Corporation has a 1 year low of $23.38 and a 1 year high of $30.75. 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 (NASDAQ:NWSA - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.19. The business had revenue of $2.11 billion during the quarter, compared to analysts' expectations of $2.09 billion. News had a return on equity of 5.66% and a net margin of 13.21%.The firm's quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.17 earnings per share. Analysts predict that News Corporation will post 0.94 earnings per share for the current year.

News Announces Dividend

The firm also recently declared a half year 25 dividend, which will be paid on Wednesday, October 8th. Stockholders of record on Wednesday, September 10th will be paid a $0.10 dividend. The ex-dividend date is Wednesday, September 10th. This represents a dividend yield of 70.0%. News's payout ratio is currently 9.62%.

Analyst Ratings Changes

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

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.