News Corporation $NWSA Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its stake in shares of News Corporation (NASDAQ:NWSA - Free Report) by 69.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 222,225 shares of the company's stock after selling 508,246 shares during the quarter. Assenagon Asset Management S.A.'s holdings in News were worth $6,367,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in NWSA. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of News during the 3rd quarter worth $25,000. Elevation Wealth Partners LLC lifted its holdings in News by 282.7% during the 2nd quarter. Elevation Wealth Partners LLC now owns 2,032 shares of the company's stock worth $50,000 after buying an additional 1,501 shares during the last quarter. Root Financial Partners LLC boosted its position in shares of News by 96.2% during the 1st quarter. Root Financial Partners LLC now owns 2,188 shares of the company's stock worth $55,000 after acquiring an additional 1,073 shares in the last quarter. IFP Advisors Inc boosted its position in shares of News by 79.0% during the 2nd quarter. IFP Advisors Inc now owns 3,682 shares of the company's stock worth $91,000 after acquiring an additional 1,625 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of News by 26.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 8,299 shares of the company's stock worth $207,000 after acquiring an additional 1,739 shares in the last quarter. 66.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on NWSA shares. Zacks Research cut shares of News from a "strong-buy" rating to a "hold" rating in a report on Friday, August 7th. Morgan Stanley restated an "overweight" rating and issued a $35.00 price target on shares of News in a research note on Thursday, August 6th. Raymond James Financial assumed coverage on News in a research note on Monday. They issued an "outperform" rating and a $35.00 price target on the stock. Wall Street Zen upgraded shares of News from a "buy" rating to a "strong-buy" rating in a research report on Saturday, October 3rd. Finally, Weiss Ratings upgraded shares of News from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, October 12th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, News presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.80.

News Price Performance

NWSA stock opened at $30.65 on Wednesday. News Corporation has a 52-week low of $22.20 and a 52-week high of $31.66. The stock's fifty day simple moving average is $29.67 and its 200-day simple moving average is $27.61. The company has a quick ratio of 1.51, a current ratio of 1.62 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $16.58 billion, a price-to-earnings ratio of 29.76 and a beta of 0.97.

News (NASDAQ:NWSA - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.21 by $0.14. News had a return on equity of 7.09% and a net margin of 6.35%. The firm had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same period in the prior year, the firm posted $0.19 earnings per share. The business's quarterly revenue was up 10.8% compared to the same quarter last year. Equities research analysts expect that News Corporation will post 1.31 EPS for the current year.

News Dividend Announcement

The company also recently declared a dividend, which was paid on Wednesday, October 7th. Shareholders of record on Wednesday, September 9th were paid a dividend of $0.10 per share. The ex-dividend date was Wednesday, September 9th. This represents a yield of 68.0%. News's dividend payout ratio is currently 19.42%.

About News

News Corp is a global media and information-services company whose Class A common stock trades on the Nasdaq under the symbol NWSA. The company operates a portfolio of businesses spanning digital and print publishing, subscription products, professional information, real estate services and book publishing.

Its principal businesses include Dow Jones, which provides financial news, data, research and professional information through publications such as The Wall Street Journal and Barron's; News Corp Australia and News UK, which operate newspapers and digital news platforms; and HarperCollins Publishers, which publishes fiction, nonfiction, educational and religious titles.

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