Teza Capital Management LLC Lowers Stake in News Corporation $NWS

Key Points

• Teza Capital Management LLC has reduced its stake in News Corporation by 61.7%, owning approximately 30,202 shares after selling 48,616 during the quarter.
• News Corporation has reported a net margin of 13.21% and earnings per share of $0.19, exceeding analysts' expectations of $0.18.
• The company declared a semi-annual dividend of $0.10 per share, with a yield of 60.0% for shareholders of record on September 10th.

Teza Capital Management LLC cut its position in shares of News Corporation (NASDAQ:NWS - Free Report) by 61.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,202 shares of the company's stock after selling 48,616 shares during the quarter. Teza Capital Management LLC's holdings in News were worth $917,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of NWS. Vanguard Group Inc. grew its holdings in shares of News by 5.3% during the first quarter. Vanguard Group Inc. now owns 6,879,273 shares of the company's stock worth $208,924,000 after buying an additional 344,036 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of News by 4,373.6% during the first quarter. GAMMA Investing LLC now owns 348,496 shares of the company's stock worth $11,475,000 after buying an additional 340,706 shares in the last quarter. Nuveen LLC purchased a new stake in shares of News during the first quarter worth about $8,393,000. Cooper Investors PTY Ltd. purchased a new stake in News in the first quarter valued at approximately $7,155,000. Finally, Jefferies Financial Group Inc. grew its holdings in News by 60.2% in the first quarter. Jefferies Financial Group Inc. now owns 356,975 shares of the company's stock valued at $10,841,000 after purchasing an additional 134,148 shares during the period. 14.63% of the stock is currently owned by hedge funds and other institutional investors.

News Price Performance

News stock opened at $33.40 on Friday. News Corporation has a 1 year low of $26.25 and a 1 year high of $35.58. The firm has a 50 day moving average price of $33.94 and a 200 day moving average price of $32.33. The company has a market cap of $18.87 billion, a price-to-earnings ratio of 16.06 and a beta of 1.18. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.72 and a current ratio of 1.84.

News (NASDAQ:NWS - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.01. News had a net margin of 13.21% and a return on equity of 5.66%. The firm had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.09 billion. Sell-side analysts predict that News Corporation will post 1.03 earnings per share for the current year.

News Dividend Announcement

The firm also recently disclosed a semi-annual dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 10th will be paid a dividend of $0.10 per share. This represents a yield of 60.0%. The ex-dividend date is Wednesday, September 10th. News's payout ratio is currently 9.62%.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded shares of News to a "strong sell" rating in a report on Tuesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to MarketBeat, News has a consensus rating of "Buy".

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.

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