Curated Wealth Partners LLC purchased a new position in News Corporation (NASDAQ:NWSA – Free Report) during the 3rd quarter, HoldingsChannel reports. The firm purchased 23,458 shares of the company’s stock, valued at approximately $672,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Krilogy Financial LLC boosted its position in shares of News by 93.4% in the 3rd quarter. Krilogy Financial LLC now owns 35,482 shares of the company’s stock valued at $1,042,000 after purchasing an additional 17,134 shares during the period. Sax Wealth Advisors LLC bought a new stake in News in the third quarter worth approximately $565,000. NorthCrest Asset Manangement LLC increased its holdings in shares of News by 87.2% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 38,692 shares of the company’s stock valued at $1,121,000 after acquiring an additional 18,026 shares during the last quarter. Riversedge Advisors LLC bought a new position in News in the 3rd quarter worth $288,000. Finally, LifeGoal Investments LLC acquired a new stake in News in the 3rd quarter worth $254,000. Institutional investors and hedge funds own 66.97% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $35.00 target price on shares of News in a report on Thursday, August 6th. Wall Street Zen raised shares of News from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 3rd. Zacks Research downgraded shares of News from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. JPMorgan Chase & Co. lifted their target price on News from $36.00 to $38.00 and gave the stock an “overweight” rating in a report on Friday, August 21st. Finally, Weiss Ratings upgraded shares of News from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday. Five investment 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.50.
View Our Latest Stock Analysis on NWSA
News Trading Up 2.2%
NASDAQ NWSA opened at $30.22 on Friday. The stock has a market capitalization of $16.35 billion, a price-to-earnings ratio of 29.34 and a beta of 0.97. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.62 and a quick ratio of 1.51. News Corporation has a one year low of $22.20 and a one year high of $31.66. The business’s fifty day moving average is $29.57 and its 200-day moving average is $27.50.
News (NASDAQ:NWSA – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.14. News had a return on equity of 7.09% and a net margin of 6.35%. The company had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same quarter last year, the firm posted $0.19 EPS. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. Equities research analysts predict that News Corporation will post 1.31 EPS for the current year.
News Dividend Announcement
The firm also recently announced a dividend, which was paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 9th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, September 9th. This represents a dividend yield of 68.0%. News’s payout ratio is 19.42%.
News Profile
News Corp (NASDAQ: NWSA) is a global media and information-services company that creates and distributes news, business information, books, digital content and real estate services. Its operations serve consumers, professionals, institutions and businesses across the United States, the United Kingdom, Australia and other international markets.
The company’s Dow Jones division provides business and financial news, data and information through publications and platforms including The Wall Street Journal, Barron’s, MarketWatch, Factiva and Dow Jones Newswires.
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