Boothbay Fund Management LLC Has $5.79 Million Holdings in News Corporation $NWSA

Boothbay Fund Management LLC raised its position in News Corporation (NASDAQ:NWSA) by 15.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 188,582 shares of the company’s stock after purchasing an additional 25,686 shares during the quarter. Boothbay Fund Management LLC’s holdings in News were worth $5,791,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. CYBER HORNET ETFs LLC acquired a new stake in News in the 2nd quarter valued at $30,000. Root Financial Partners LLC acquired a new stake in News during the 3rd quarter valued at $35,000. Brown Brothers Harriman & Co. lifted its stake in shares of News by 154.5% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,285 shares of the company’s stock worth $39,000 after buying an additional 780 shares during the last quarter. Rothschild Investment LLC lifted its position in News by 120.0% during the third quarter. Rothschild Investment LLC now owns 1,749 shares of the company’s stock worth $54,000 after acquiring an additional 954 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in News by 87.9% in the 3rd 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. 66.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on NWSA. Zacks Research raised shares of News from a “strong sell” rating to a “hold” rating in a report on Thursday, March 5th. Weiss Ratings lowered News from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, February 26th. Morgan Stanley set a $32.40 target price on shares of News in a research note on Friday, February 6th. Citigroup dropped their price objective on shares of News from $40.00 to $39.00 and set a “buy” rating for the company in a report on Monday, February 9th. Finally, JPMorgan Chase & Co. cut their target price on News from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Tuesday, November 25th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, News presently has an average rating of “Moderate Buy” and an average price target of $37.02.

News Price Performance

Shares of NASDAQ NWSA opened at $23.70 on Monday. News Corporation has a 1-year low of $22.20 and a 1-year high of $31.61. The firm has a market capitalization of $13.16 billion, a P/E ratio of 11.67 and a beta of 0.98. The firm’s 50-day moving average price is $24.88 and its 200-day moving average price is $26.36. The company has a current ratio of 1.81, a quick ratio of 1.69 and a debt-to-equity ratio of 0.20.

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. News had a return on equity of 5.94% and a net margin of 13.35%.The business had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the prior year, the business earned $0.33 EPS. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. Equities research analysts anticipate that News Corporation will post 0.94 earnings per share for the current fiscal year.

News Announces Dividend

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

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.