Mirae Asset Global Investments Co. Ltd. Has $470,000 Stock Holdings in News Corporation $NWS

Mirae Asset Global Investments Co. Ltd. increased its holdings in News Corporation (NASDAQ:NWS) by 7.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,709 shares of the company’s stock after purchasing an additional 919 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in News were worth $470,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in NWS. Vanguard Group Inc. raised its position in News by 5.3% in the first quarter. Vanguard Group Inc. now owns 6,879,273 shares of the company’s stock worth $208,924,000 after purchasing an additional 344,036 shares in the last quarter. Nuveen LLC acquired a new stake in shares of News during the first quarter worth approximately $8,393,000. Cooper Investors PTY Ltd. acquired a new stake in shares of News during the first quarter worth approximately $7,155,000. Jefferies Financial Group Inc. increased its holdings in shares of News by 60.2% during the first quarter. Jefferies Financial Group Inc. now owns 356,975 shares of the company’s stock worth $10,841,000 after buying an additional 134,148 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of News during the first quarter worth approximately $2,986,000. Institutional investors and hedge funds own 14.63% of the company’s stock.

Wall Street Analyst Weigh In

NWS has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of News in a report on Wednesday. Zacks Research raised shares of News from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, News presently has a consensus rating of “Buy”.

News Stock Performance

Shares of News stock opened at $29.28 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.84 and a quick ratio of 1.72. The firm has a market cap of $16.54 billion, a P/E ratio of 14.08 and a beta of 1.17. The firm has a 50 day simple moving average of $33.24 and a 200 day simple moving average of $32.53. News Corporation has a fifty-two week low of $26.25 and a fifty-two week high of $35.58.

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

News Announces Dividend

The business also recently declared a semi-annual dividend, which was paid on Wednesday, October 8th. Investors of record on Wednesday, September 10th were issued a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a dividend yield of 63.0%. News’s dividend payout ratio (DPR) is currently 9.62%.

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