21,830 Shares in News Corporation $NWSA Purchased by Perpetual Ltd

Key Points

• Perpetual Ltd has acquired a new stake in News Corporation, purchasing 21,830 shares valued at approximately $649,000 during the second quarter.
• News Corporation reported a net revenue of $2.11 billion for the last quarter, exceeding analysts' expectations of $2.09 billion, along with earnings per share of $0.19.
• The company declared a half-year dividend of $0.10 per share to be paid on October 8th, with an ex-dividend date of September 10th, resulting in a dividend yield of 70.0%.

Perpetual Ltd acquired a new stake in shares of News Corporation (NASDAQ:NWSA - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 21,830 shares of the company's stock, valued at approximately $649,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Sentry Investment Management LLC bought a new stake in News in the first quarter worth approximately $36,000. Caitong International Asset Management Co. Ltd grew its position 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 worth $43,000 after acquiring an additional 1,571 shares in the last quarter. SVB Wealth LLC bought a new stake in News in the first quarter worth approximately $73,000. CX Institutional bought a new stake in News in the first quarter worth approximately $76,000. Finally, Versant Capital Management Inc grew its position in News by 714.9% in the first quarter. Versant Capital Management Inc now owns 4,433 shares of the company's stock worth $121,000 after acquiring an additional 3,889 shares in the last quarter. 66.97% of the stock is owned by hedge funds and other institutional investors.

News Stock Performance

News stock traded up $0.19 on Monday, hitting $30.81. The company's stock had a trading volume of 3,333,563 shares, compared to its average volume of 4,045,867. The firm has a market cap of $17.41 billion, a P/E 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. The company has a fifty day moving average price of $29.54 and a 200-day moving average price of $28.26. News Corporation has a one year low of $23.38 and a one year high of $30.88.

News (NASDAQ:NWSA - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. News had a net margin of 13.21% and a return on equity of 5.66%. The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the previous year, the firm posted $0.17 EPS. The business's revenue for the quarter was up .8% on a year-over-year basis. On average, equities analysts anticipate that News Corporation will post 0.94 earnings per share for the current year.

News Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wall Street Zen downgraded shares of News from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Macquarie restated a "neutral" rating and issued a $32.70 price objective on shares of News in a research note on Wednesday, August 6th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of News from $38.00 to $40.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company 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.