Bedi Ajay Singh Sells 29,857 Shares of News Corp. (NWSA) Stock
News Corp. (NASDAQ:NWSA) CFO Bedi Ajay Singh sold 29,857 shares of the stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $14.39, for a total value of $429,642.23. Following the sale, the chief financial officer now owns 33,667 shares in the company, valued at approximately $484,468.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
News Corp. (NASDAQ:NWSA) opened at 14.52 on Friday. News Corp. has a 1-year low of $10.21 and a 1-year high of $15.68. The company has a 50-day moving average price of $13.92 and a 200-day moving average price of $12.68. The company has a market cap of $8.42 billion, a PE ratio of 47.61 and a beta of 2.01.
News Corp. (NASDAQ:NWSA) last posted its earnings results on Monday, August 8th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by $0.03. News Corp. had a return on equity of 1.95% and a net margin of 2.16%. The company earned $2.23 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same period last year, the firm posted $0.07 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, analysts expect that News Corp. will post $0.46 EPS for the current fiscal year.
The firm also recently disclosed a dividend, which will be paid on Wednesday, October 19th. Stockholders of record on Wednesday, September 14th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, September 12th. News Corp.’s payout ratio is 66.67%.
Large investors have recently modified their holdings of the stock. Sentry Investment Management LLC increased its stake in shares of News Corp. by 5,871.2% in the first quarter. Sentry Investment Management LLC now owns 7,882 shares of the company’s stock worth $101,000 after buying an additional 7,750 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of News Corp. during the second quarter worth about $116,000. Conning Inc. acquired a new stake in shares of News Corp. during the second quarter worth about $118,000. Societe Generale acquired a new stake in shares of News Corp. during the second quarter worth about $121,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of News Corp. during the second quarter worth about $130,000. 95.59% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on the company. Zacks Investment Research downgraded News Corp. from a “hold” rating to a “sell” rating in a research report on Monday, September 26th. Morgan Stanley reiterated a “hold” rating on shares of News Corp. in a research report on Thursday, August 18th. Finally, TheStreet upgraded News Corp. from a “hold” rating to a “buy” rating in a research report on Monday, August 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. News Corp. presently has an average rating of “Hold” and a consensus price target of $17.13.
News Corp. Company Profile
News Corporation is a diversified media and information services company. The Company operates in five segments: News and Information Services, Cable Network Programming, Digital Real Estate Services, Book Publishing, and Other. The Company’s business consists of range of media, including news and information services, sports programming in Australia, digital real estate services, book publishing, and pay-television (TV) distribution in Australia, that are distributed under the brands, including The Wall Street Journal, Dow Jones, Herald Sun, The Sun, The Times, HarperCollins Publishers, FOX SPORTS Australia and realestate.com.au.
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