Jackson Thornton Wealth Management LLC Makes New $209,000 Investment in News Corporation $NWSA

Jackson Thornton Wealth Management LLC bought a new position in shares of News Corporation (NASDAQ:NWSA) during the second quarter, HoldingsChannel.com reports. The firm bought 7,098 shares of the company’s stock, valued at approximately $209,000.

Other institutional investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd boosted its position in News by 12,084.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,584 shares of the company’s stock worth $43,000 after purchasing an additional 1,571 shares in the last quarter. SVB Wealth LLC acquired a new position in shares of News in the first quarter worth $73,000. Horizon Investments LLC raised its holdings in shares of News by 7.7% in the first quarter. Horizon Investments LLC now owns 5,575 shares of the company’s stock worth $152,000 after acquiring an additional 398 shares during the last quarter. V Square Quantitative Management LLC raised its holdings in shares of News by 17.2% in the second quarter. V Square Quantitative Management LLC now owns 6,207 shares of the company’s stock worth $184,000 after acquiring an additional 912 shares during the last quarter. Finally, Mather Group LLC. raised its holdings in shares of News by 10.4% in the first quarter. Mather Group LLC. now owns 6,465 shares of the company’s stock worth $176,000 after acquiring an additional 610 shares during the last quarter. 66.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NWSA. JPMorgan Chase & Co. boosted their price target on News from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Weiss Ratings reissued a “buy (b)” rating on shares of News in a report on Wednesday, October 8th. Finally, Macquarie reissued a “neutral” rating and issued a $32.70 price target on shares of News in a report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $38.62.

News Stock Performance

News stock opened at $26.38 on Wednesday. The firm has a market capitalization of $14.90 billion, a P/E ratio of 12.68 and a beta of 1.17. The stock has a fifty day moving average price of $28.98 and a 200 day moving average price of $28.41. News Corporation has a 52 week low of $23.38 and a 52 week high of $31.61. The company has a current ratio of 1.84, a quick ratio of 1.72 and a debt-to-equity ratio of 0.21.

News (NASDAQ:NWSA) last released its earnings results on Tuesday, August 5th. The company reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. The firm had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.09 billion. News had a return on equity of 5.66% and a net margin of 13.21%.The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.17 earnings per share. Equities research analysts anticipate that News Corporation will post 0.94 earnings per share for the current year.

News Announces Dividend

The company also recently declared a half year 25 dividend, which was paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 10th were paid a dividend of $0.10 per share. The ex-dividend date was Wednesday, September 10th. This represents a yield of 70.0%. News’s dividend payout ratio is currently 9.62%.

News Company 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.