Elo Mutual Pension Insurance Co Boosts Stake in News Corporation $NWSA

Elo Mutual Pension Insurance Co increased its position in shares of News Corporation (NASDAQ:NWSA) by 83.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 70,399 shares of the company’s stock after buying an additional 32,010 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in News were worth $2,162,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CYBER HORNET ETFs LLC purchased a new position in shares of News during the second quarter worth approximately $30,000. Root Financial Partners LLC acquired a new stake in News during the 3rd quarter worth $35,000. Rothschild Investment LLC grew its position in News by 120.0% during the 3rd quarter. Rothschild Investment LLC now owns 1,749 shares of the company’s stock worth $54,000 after purchasing an additional 954 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in News by 87.9% in the third quarter. Smartleaf Asset Management LLC now owns 2,396 shares of the company’s stock valued at $74,000 after purchasing an additional 1,121 shares during the period. Finally, Allworth Financial LP raised its holdings in shares of News by 160.1% in the second quarter. Allworth Financial LP now owns 3,361 shares of the company’s stock valued at $100,000 after buying an additional 2,069 shares during the last quarter. Hedge funds and other institutional investors own 66.97% of the company’s stock.

News Trading Up 0.9%

NASDAQ:NWSA opened at $24.03 on Thursday. News Corporation has a 1 year low of $22.20 and a 1 year high of $31.61. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.69 and a current ratio of 1.81. The stock has a fifty day moving average price of $25.17 and a two-hundred day moving average price of $26.67. The stock has a market capitalization of $13.35 billion, a price-to-earnings ratio of 11.84 and a beta of 0.98.

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

News Announces Dividend

The business also recently declared a dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 11th will be given a dividend of $0.10 per share. This represents a dividend yield of 83.0%. The ex-dividend date is Wednesday, March 11th. News’s dividend payout ratio (DPR) is presently 9.85%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Weiss Ratings cut News from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, February 26th. 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. Guggenheim lowered their price objective on shares of News from $45.00 to $43.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Zacks Research cut shares of News from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 4th. Finally, Wall Street Zen upgraded shares of News from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $37.02.

About News

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.