News Corp (NWSA) Position Increased by Shell Asset Management Co.
Shell Asset Management Co. boosted its position in News Corp (NASDAQ:NWSA) by 27.3% during the second quarter, Holdings Channel reports. The fund owned 19,026 shares of the company’s stock after buying an additional 4,084 shares during the period. Shell Asset Management Co.’s holdings in News Corp were worth $216,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. BlueMountain Capital Management LLC increased its position in shares of News Corp by 15.9% in the first quarter. BlueMountain Capital Management LLC now owns 6,963,170 shares of the company’s stock worth $88,920,000 after buying an additional 957,265 shares during the last quarter. Dodge & Cox increased its position in shares of News Corp by 4.4% in the first quarter. Dodge & Cox now owns 8,318,002 shares of the company’s stock worth $106,221,000 after buying an additional 347,225 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of News Corp by 2.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 9,955,922 shares of the company’s stock worth $127,137,000 after buying an additional 228,067 shares during the last quarter. Legal & General Group Plc increased its position in shares of News Corp by 11.9% in the first quarter. Legal & General Group Plc now owns 1,799,772 shares of the company’s stock worth $22,982,000 after buying an additional 191,764 shares during the last quarter. Finally, IBIS Capital Partners LLP increased its position in shares of News Corp by 13.7% in the first quarter. IBIS Capital Partners LLP now owns 1,173,230 shares of the company’s stock worth $14,982,000 after buying an additional 141,812 shares during the last quarter. Institutional investors and hedge funds own 95.59% of the company’s stock.
Shares of News Corp (NASDAQ:NWSA) traded up 0.52% during trading on Thursday, reaching $13.54. The company’s stock had a trading volume of 2,464,842 shares. The firm has a market cap of $7.86 billion, a P/E ratio of 44.39 and a beta of 2.01. The stock’s 50 day moving average is $13.92 and its 200 day moving average is $12.71. News Corp has a one year low of $10.21 and a one year high of $15.68.
News Corp (NASDAQ:NWSA) last posted its earnings results on Monday, August 8th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by $0.03. News Corp had a net margin of 2.16% and a return on equity of 1.95%. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same period last year, the firm posted $0.07 earnings per share. News Corp’s quarterly revenue was up 5.1% on a year-over-year basis. On average, equities analysts forecast that News Corp will post $0.46 EPS for the current fiscal year.
The firm also recently announced a dividend, which will be paid on Wednesday, October 19th. Stockholders of record on Wednesday, September 14th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, September 12th. News Corp’s dividend payout ratio (DPR) is presently 66.67%.
NWSA has been the topic of a number of recent analyst reports. Morgan Stanley restated a “hold” rating on shares of News Corp in a report on Thursday, August 18th. TheStreet upgraded shares of News Corp from a “hold” rating to a “buy” rating in a report on Monday, August 15th. Finally, Zacks Investment Research downgraded shares of News Corp from a “hold” rating to a “sell” rating in a report on Tuesday, July 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $17.13.
In other news, CFO Bedi Ajay Singh sold 29,857 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $14.39, for a total transaction of $429,642.23. Following the transaction, the chief financial officer now directly owns 33,667 shares of the company’s stock, valued at $484,468.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 13.88% of the company’s stock.
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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