Park Avenue Securities LLC Has $543,000 Holdings in News Corporation $NWSA

Park Avenue Securities LLC boosted its stake in shares of News Corporation (NASDAQ:NWSA) by 27.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,261 shares of the company’s stock after buying an additional 3,962 shares during the period. Park Avenue Securities LLC’s holdings in News were worth $543,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sentry Investment Management LLC acquired a new stake in News during the 1st quarter worth about $36,000. Caitong International Asset Management Co. Ltd raised its holdings in News by 12,084.6% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,584 shares of the company’s stock worth $43,000 after buying an additional 1,571 shares during the period. SVB Wealth LLC acquired a new stake in News during the 1st quarter worth about $73,000. CX Institutional acquired a new stake in News during the 1st quarter worth about $76,000. Finally, Versant Capital Management Inc raised its holdings in News by 714.9% during the 1st quarter. Versant Capital Management Inc now owns 4,433 shares of the company’s stock worth $121,000 after buying an additional 3,889 shares during the period. Institutional investors and hedge funds own 66.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on News from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. Macquarie reaffirmed a “neutral” rating and set a $32.70 target price on shares of News in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $38.62.

News Trading Up 0.9%

Shares of NASDAQ NWSA opened at $30.45 on Monday. The stock has a market cap of $17.20 billion, a price-to-earnings ratio of 14.64 and a beta of 1.18. The business has a 50 day simple moving average of $29.57 and a 200 day simple moving average of $28.35. News Corporation has a 52 week low of $23.38 and a 52 week high of $30.94. 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:NWSA) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. The business had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.09 billion. News had a return on equity of 5.66% and a net margin of 13.21%.The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.17 EPS. On average, research analysts predict that News Corporation will post 0.94 earnings per share for the current fiscal year.

News Announces Dividend

The company also recently declared a half year 25 dividend, which will be paid on Wednesday, October 8th. Investors of record on Wednesday, September 10th will be paid 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 payout ratio is presently 9.62%.

News Company 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.