Nisa Investment Advisors LLC bought a new position in News Corporation (NASDAQ:NWSA – Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 225,090 shares of the company’s stock, valued at approximately $6,471,000.
A number of other large investors have also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. acquired a new position in shares of News during the third quarter worth about $79,840,000. Commonwealth Financial Services LLC lifted its stake in News by 27.2% in the 3rd quarter. Commonwealth Financial Services LLC now owns 16,319 shares of the company’s stock valued at $468,000 after acquiring an additional 3,485 shares in the last quarter. Kaufman Rossin Wealth LLC acquired a new position in News during the 3rd quarter worth approximately $223,000. SteelPeak Wealth LLC acquired a new position in News during the 3rd quarter worth approximately $420,000. Finally, IFP Advisors Inc grew its stake in shares of News by 104.3% during the 3rd quarter. IFP Advisors Inc now owns 7,524 shares of the company’s stock worth $216,000 after acquiring an additional 3,842 shares in the last quarter. Institutional investors own 66.97% of the company’s stock.
News Price Performance
Shares of NWSA opened at $30.74 on Friday. The company has a market cap of $16.63 billion, a price-to-earnings ratio of 29.84 and a beta of 0.97. News Corporation has a 1-year low of $22.20 and a 1-year high of $31.66. The company’s fifty day simple moving average is $29.78 and its 200 day simple moving average is $27.72. The company has a current ratio of 1.62, a quick ratio of 1.51 and a debt-to-equity ratio of 0.22.
News (NASDAQ:NWSA – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.14. News had a net margin of 6.35% and a return on equity of 7.09%. The firm had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter last year, the company posted $0.19 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, research analysts forecast that News Corporation will post 1.30 earnings per share for the current fiscal year.
News Dividend Announcement
The firm also recently declared a dividend, which was paid on Wednesday, October 7th. Investors of record on Wednesday, September 9th were issued a dividend of $0.10 per share. The ex-dividend date was Wednesday, September 9th. This represents a yield of 68.0%. News’s dividend payout ratio (DPR) is presently 19.42%.
Analyst Ratings Changes
Several research analysts recently commented on NWSA shares. Wall Street Zen cut shares of News from a “strong-buy” rating to a “buy” rating in a report on Saturday. Zacks Research lowered shares of News from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. Weiss Ratings raised shares of News from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, October 12th. Morgan Stanley restated an “overweight” rating and set a $35.00 price objective on shares of News in a research note on Thursday, August 6th. Finally, Raymond James Financial assumed coverage on News in a report on Monday. They issued an “outperform” rating and a $35.00 price objective for the company. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, News has an average rating of “Moderate Buy” and a consensus target price of $37.80.
Check Out Our Latest Stock Report on News
News Company Profile
News Corp is a global media and information-services company whose Class A common stock trades on the Nasdaq under the symbol NWSA. The company operates a portfolio of businesses spanning digital and print publishing, subscription products, professional information, real estate services and book publishing.
Its principal businesses include Dow Jones, which provides financial news, data, research and professional information through publications such as The Wall Street Journal and Barron’s; News Corp Australia and News UK, which operate newspapers and digital news platforms; and HarperCollins Publishers, which publishes fiction, nonfiction, educational and religious titles.
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