News Co. (NASDAQ:NWSA) Shares Acquired by DnB Asset Management AS

DnB Asset Management AS lifted its holdings in shares of News Co. (NASDAQ:NWSAGet Rating) by 4.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 126,615 shares of the company’s stock after purchasing an additional 5,400 shares during the quarter. DnB Asset Management AS’s holdings in News were worth $1,973,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in NWSA. Contour Asset Management LLC boosted its holdings in shares of News by 31.8% during the fourth quarter. Contour Asset Management LLC now owns 12,156,933 shares of the company’s stock worth $271,221,000 after purchasing an additional 2,934,958 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in News by 35.6% in the first quarter. Goldman Sachs Group Inc. now owns 7,262,494 shares of the company’s stock valued at $160,865,000 after acquiring an additional 1,908,096 shares during the last quarter. Incline Global Management LLC acquired a new position in News in the fourth quarter valued at $40,987,000. D. E. Shaw & Co. Inc. boosted its holdings in News by 66.3% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 3,074,544 shares of the company’s stock valued at $68,593,000 after acquiring an additional 1,225,694 shares during the last quarter. Finally, 59 North Capital Management LP boosted its holdings in News by 133.1% in the fourth quarter. 59 North Capital Management LP now owns 2,045,779 shares of the company’s stock valued at $45,641,000 after acquiring an additional 1,168,048 shares during the last quarter. Institutional investors and hedge funds own 64.40% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NWSA. StockNews.com cut News from a “buy” rating to a “hold” rating in a report on Wednesday, August 17th. Macquarie cut News from an “outperform” rating to a “neutral” rating and set a $21.10 price objective on the stock. in a research note on Thursday, July 28th. Finally, Guggenheim boosted their price objective on News to $34.00 in a research note on Monday, August 15th.

Insider Activity at News

In related news, General Counsel David B. Pitofsky sold 82,028 shares of the business’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $18.73, for a total value of $1,536,384.44. Following the completion of the sale, the general counsel now directly owns 87,706 shares of the company’s stock, valued at $1,642,733.38. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 13.73% of the stock is owned by corporate insiders.

News Trading Down 2.7 %

Shares of NWSA opened at $16.01 on Thursday. The stock’s 50-day moving average is $17.17 and its two-hundred day moving average is $18.26. The stock has a market cap of $9.31 billion, a PE ratio of 15.10 and a beta of 1.29. News Co. has a 12 month low of $14.95 and a 12 month high of $25.86. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.16 and a quick ratio of 1.07.

News (NASDAQ:NWSAGet Rating) last announced its earnings results on Monday, August 8th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.22. News had a return on equity of 7.69% and a net margin of 6.00%. The business had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same period in the previous year, the company earned $0.16 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. Equities analysts forecast that News Co. will post 0.99 earnings per share for the current fiscal year.

News Dividend Announcement

The company also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, October 12th. Investors of record on Wednesday, September 14th will be issued a $0.10 dividend. This represents a yield of 1.1%. The ex-dividend date is Tuesday, September 13th. News’s dividend payout ratio is currently 18.87%.

News Profile

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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 in six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.

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Institutional Ownership by Quarter for News (NASDAQ:NWSA)

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