ProShare Advisors LLC Increases Holdings in News Co. (NASDAQ:NWSA)

ProShare Advisors LLC boosted its position in News Co. (NASDAQ:NWSA) by 5.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,316 shares of the company’s stock after purchasing an additional 3,605 shares during the period. ProShare Advisors LLC’s holdings in News were worth $1,994,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in shares of News in the second quarter valued at $26,000. Acadian Asset Management LLC increased its holdings in News by 95.1% during the 2nd quarter. Acadian Asset Management LLC now owns 1,038 shares of the company’s stock valued at $28,000 after acquiring an additional 506 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in News during the first quarter worth about $34,000. Covestor Ltd lifted its holdings in shares of News by 125.8% in the first quarter. Covestor Ltd now owns 1,727 shares of the company’s stock valued at $45,000 after purchasing an additional 962 shares in the last quarter. Finally, Innealta Capital LLC acquired a new stake in shares of News in the second quarter valued at approximately $46,000. 66.97% of the stock is owned by institutional investors and hedge funds.

News Stock Up 0.5 %

Shares of NASDAQ NWSA opened at $26.50 on Friday. The firm’s 50 day moving average price is $27.06 and its 200 day moving average price is $26.49. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.33 and a current ratio of 1.43. The firm has a market cap of $15.10 billion, a P/E ratio of 73.61 and a beta of 1.34. News Co. has a 1 year low of $19.25 and a 1 year high of $28.62.

News (NASDAQ:NWSA) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. News had a return on equity of 4.51% and a net margin of 2.64%. The business had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the previous year, the business earned $0.14 earnings per share. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. As a group, sell-side analysts anticipate that News Co. will post 0.87 earnings per share for the current year.

News Dividend Announcement

The business also recently announced a Semi-Annual dividend, which will be paid on Wednesday, October 9th. Investors of record on Wednesday, September 11th will be given a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a dividend yield of 0.7%. News’s dividend payout ratio is presently 55.56%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on NWSA shares. Loop Capital upped their target price on News from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. JPMorgan Chase & Co. increased their price objective on News from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Four research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $38.00.

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