Forum Financial Management LP Acquires 653 Shares of News Corporation $NWSA

Forum Financial Management LP grew its holdings in shares of News Corporation (NASDAQ:NWSA) by 6.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 11,568 shares of the company’s stock after acquiring an additional 653 shares during the period. Forum Financial Management LP’s holdings in News were worth $344,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of NWSA. Nuveen LLC bought a new position in shares of News during the first quarter valued at $85,213,000. 59 North Capital Management LP raised its stake in News by 24.4% during the first quarter. 59 North Capital Management LP now owns 11,147,654 shares of the company’s stock worth $303,439,000 after buying an additional 2,185,542 shares during the last quarter. Dodge & Cox raised its stake in News by 18.7% during the first quarter. Dodge & Cox now owns 13,846,298 shares of the company’s stock worth $376,896,000 after buying an additional 2,183,613 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in News by 1,025.4% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,904,943 shares of the company’s stock worth $56,615,000 after buying an additional 1,735,668 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in News by 1,338.0% during the second quarter. Assenagon Asset Management S.A. now owns 1,271,263 shares of the company’s stock worth $37,782,000 after buying an additional 1,182,858 shares during the last quarter. Institutional investors own 66.97% of the company’s stock.

Analysts Set New Price Targets

NWSA has been the subject of a number of analyst reports. Macquarie reissued a “neutral” rating and set a $32.70 target price on shares of News in a research note on Wednesday, August 6th. Zacks Research downgraded shares of News from a “hold” rating to a “strong sell” rating in a research note on Thursday. JPMorgan Chase & Co. lifted their target price on shares of News from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of News in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.62.

News Trading Down 0.3%

NASDAQ:NWSA opened at $26.32 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.72 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $14.87 billion, a price-to-earnings ratio of 12.65 and a beta of 1.17. The firm has a fifty day simple moving average of $28.78 and a two-hundred day simple moving average of $28.46. News Corporation has a 12 month low of $23.38 and a 12 month high of $31.61.

News (NASDAQ:NWSA) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.19 EPS for the quarter, hitting analysts’ consensus estimates 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 net margin of 13.21% and a return on equity of 5.66%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the company posted $0.17 earnings per share. Analysts expect that News Corporation will post 0.94 EPS for the current fiscal year.

News Dividend Announcement

The firm also recently disclosed a half year 25 dividend, which was paid on Wednesday, October 8th. Stockholders of record on Wednesday, September 10th were issued a dividend of $0.10 per share. This represents a dividend yield of 70.0%. The ex-dividend date was Wednesday, September 10th. 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.