News Corporation $NWSA Position Boosted by Andra AP fonden

Andra AP fonden grew its holdings in News Corporation (NASDAQ:NWSA) by 8.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 632,232 shares of the company’s stock after purchasing an additional 48,300 shares during the period. Andra AP fonden owned about 0.11% of News worth $19,416,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NWSA. Xponance Inc. lifted its position in News by 35.5% in the 3rd quarter. Xponance Inc. now owns 90,383 shares of the company’s stock worth $2,776,000 after buying an additional 23,678 shares in the last quarter. DNB Asset Management AS increased its stake in shares of News by 16.8% in the third quarter. DNB Asset Management AS now owns 73,631 shares of the company’s stock worth $2,261,000 after acquiring an additional 10,570 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of News during the third quarter worth $205,000. Empirical Asset Management LLC acquired a new stake in News during the third quarter valued at $624,000. Finally, Waddell & Associates LLC purchased a new position in News in the third quarter valued at about $241,000. 66.97% of the stock is owned by hedge funds and other institutional investors.

News Price Performance

NASDAQ NWSA opened at $24.29 on Friday. The stock has a 50-day simple moving average of $25.32 and a 200 day simple moving average of $26.80. News Corporation has a twelve month low of $22.20 and a twelve month high of $31.61. The stock has a market capitalization of $13.49 billion, a PE ratio of 11.97 and a beta of 0.99. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.69 and a current ratio of 1.81.

News (NASDAQ:NWSA) last issued its quarterly earnings results on Thursday, February 5th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.33 by $0.07. News had a return on equity of 5.94% and a net margin of 13.35%.The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the previous year, the business posted $0.33 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. Research analysts anticipate that News Corporation will post 0.94 EPS for the current year.

News Announces Dividend

The business also recently declared a dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 11th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a yield of 83.0%. News’s dividend payout ratio is 9.85%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NWSA. Citigroup cut their price target on News from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Monday, February 9th. JPMorgan Chase & Co. cut their price objective on shares of News from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 25th. Zacks Research downgraded shares of News from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 4th. Weiss Ratings downgraded shares of News from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. Finally, Morgan Stanley set a $32.40 price objective on shares of News in a report on Friday, February 6th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $37.02.

News Profile

News Corporation (NASDAQ: NWSA) is a global diversified media and information services company headquartered in New York City. It operates through two principal segments: News and Information Services, and Digital Real Estate Services. The company’s news and information division oversees a portfolio of leading newspapers, magazines and digital platforms, offering content across print and online channels. Its properties include Dow Jones, publisher of The Wall Street Journal and Barron’s, News UK titles such as The Times and The Sun, as well as News Corp Australia mastheads.

In addition to its journalism assets, News Corp is a significant player in book publishing through HarperCollins, one of the world’s largest consumer publishers.