NorthCrest Asset Manangement LLC purchased a new position in News Corporation (NASDAQ:NWSA - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 8,284 shares of the company's stock, valued at approximately $246,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of NWSA. Royal Bank of Canada increased its holdings in News by 145.5% in the 4th quarter. Royal Bank of Canada now owns 540,139 shares of the company's stock valued at $14,876,000 after acquiring an additional 320,084 shares during the last quarter. Squarepoint Ops LLC boosted its position in shares of News by 80.4% during the fourth quarter. Squarepoint Ops LLC now owns 18,377 shares of the company's stock valued at $506,000 after buying an additional 8,192 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of News by 4.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,796,373 shares of the company's stock valued at $49,472,000 after purchasing an additional 81,589 shares during the period. Toronto Dominion Bank grew its stake in News by 33.3% in the 4th quarter. Toronto Dominion Bank now owns 202,832 shares of the company's stock worth $5,586,000 after acquiring an additional 50,652 shares in the last quarter. Finally, Forum Financial Management LP increased its holdings in News by 9.0% during the 4th quarter. Forum Financial Management LP now owns 10,891 shares of the company's stock worth $300,000 after purchasing an additional 903 shares during the period. 66.97% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
NWSA has been the subject of several recent research reports. Macquarie restated a "neutral" rating and issued a $32.70 price target on shares of News in a report on Wednesday, August 6th. Wall Street Zen downgraded News from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Finally, JPMorgan Chase & Co. lifted their price objective on News from $38.00 to $40.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $38.62.
View Our Latest Research Report on News
News Trading Up 0.6%
NASDAQ:NWSA traded up $0.19 on Monday, reaching $30.81. The company's stock had a trading volume of 3,333,563 shares, compared to its average volume of 4,045,867. News Corporation has a 12-month low of $23.38 and a 12-month high of $30.88. The stock has a 50 day moving average price of $29.54 and a 200 day moving average price of $28.26. The firm has a market cap of $17.41 billion, a price-to-earnings ratio of 14.81 and a beta of 1.18. 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 (NASDAQ:NWSA - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share 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 company had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same quarter last year, the firm posted $0.17 earnings per share. News's revenue was up .8% compared to the same quarter last year. On average, equities analysts anticipate that News Corporation will post 0.94 EPS for the current fiscal year.
News Announces Dividend
The company 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 given a $0.10 dividend. This represents a yield of 70.0%. The ex-dividend date of this dividend is Wednesday, September 10th. News's payout ratio is currently 9.62%.
About News
(
Free Report)
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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