Panagora Asset Management Inc. Buys 36,850 Shares of News Corporation $NWS

Key Points

• Panagora Asset Management Inc. increased its holdings in News Corporation by 167.0% during the first quarter, owning 58,913 shares valued at approximately $1.79 million by the end of the period.
• News Corporation reported $0.19 earnings per share for the last quarter, exceeding analyst expectations, and announced a $0.10 semi-annual dividend with a yield of 60.0% set to be paid on October 8th.
• Zacks Research recently downgraded News to a "strong sell" rating, while other analysts maintain a consensus rating of "Buy" with two firms giving a strong buy indication.

Panagora Asset Management Inc. increased its stake in shares of News Corporation (NASDAQ:NWS - Free Report) by 167.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,913 shares of the company's stock after purchasing an additional 36,850 shares during the quarter. Panagora Asset Management Inc.'s holdings in News were worth $1,789,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of NWS. SVB Wealth LLC bought a new stake in shares of News during the first quarter valued at approximately $27,000. First Horizon Advisors Inc. grew its stake in shares of News by 3,546.2% during the first quarter. First Horizon Advisors Inc. now owns 948 shares of the company's stock valued at $29,000 after purchasing an additional 922 shares during the last quarter. Resona Asset Management Co. Ltd. grew its stake in shares of News by 75.3% during the first quarter. Resona Asset Management Co. Ltd. now owns 964 shares of the company's stock valued at $29,000 after purchasing an additional 414 shares during the last quarter. Mufg Securities Americas Inc. bought a new stake in shares of News during the fourth quarter valued at approximately $50,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of News by 150.3% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,925 shares of the company's stock valued at $58,000 after purchasing an additional 1,156 shares during the last quarter. 14.63% of the stock is owned by institutional investors.

News Trading Up 1.1%

NASDAQ NWS traded up $0.35 during trading hours on Monday, hitting $33.75. The company's stock had a trading volume of 88,753 shares, compared to its average volume of 749,588. The stock has a fifty day moving average of $33.94 and a 200 day moving average of $32.33. News Corporation has a twelve month low of $26.25 and a twelve month high of $35.58. The firm has a market capitalization of $19.07 billion, a P/E ratio of 16.22 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:NWS - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.01. The company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.09 billion. News had a net margin of 13.21% and a return on equity of 5.66%. Equities research analysts forecast that News Corporation will post 1.03 earnings per share for the current fiscal year.

News Announces Dividend

The company also recently announced a semi-annual dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 10th will be issued a $0.10 dividend. The ex-dividend date is Wednesday, September 10th. This represents a yield of 60.0%. News's dividend payout ratio (DPR) is 9.62%.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded shares of News to a "strong sell" rating in a report on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy".

News 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.