Summit Securities Group LLC Reduces Stake in News Corporation (NWSA)
Summit Securities Group LLC cut its position in News Corporation (NASDAQ:NWSA) by 8.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 12,248 shares of the company’s stock after selling 1,078 shares during the period. Summit Securities Group LLC’s holdings in News Corporation were worth $168,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of NWSA. Ameritas Investment Partners Inc. bought a new stake in News Corporation during the first quarter worth approximately $118,000. Mn Services Vermogensbeheer B.V. boosted its stake in News Corporation by 4.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 9,869 shares of the company’s stock worth $120,000 after buying an additional 413 shares during the period. Pacer Advisors Inc. boosted its stake in News Corporation by 56.6% in the first quarter. Pacer Advisors Inc. now owns 10,662 shares of the company’s stock worth $139,000 after buying an additional 3,853 shares during the period. QUANTRES ASSET MANAGEMENT Ltd bought a new stake in News Corporation during the first quarter worth approximately $143,000. Finally, Creative Planning boosted its stake in News Corporation by 109.9% in the second quarter. Creative Planning now owns 11,068 shares of the company’s stock worth $152,000 after buying an additional 5,795 shares during the period. 93.93% of the stock is currently owned by institutional investors.
Shares of News Corporation (NWSA) opened at 13.43 on Friday. The firm’s 50-day moving average is $13.83 and its 200-day moving average is $13.10. News Corporation has a one year low of $10.99 and a one year high of $14.68. The company’s market cap is $7.82 billion.
News Corporation (NASDAQ:NWSA) last released its quarterly earnings results on Thursday, August 10th. The company reported $0.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.02. News Corporation had a negative net margin of 9.07% and a positive return on equity of 1.81%. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same period last year, the firm earned $0.10 earnings per share. The company’s quarterly revenue was down 6.6% on a year-over-year basis. On average, equities analysts anticipate that News Corporation will post $0.48 EPS for the current year.
The firm also recently declared a semiannual dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Wednesday, September 13th will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a yield of 1.49%. News Corporation’s payout ratio is presently -15.63%.
A number of research firms recently commented on NWSA. Zacks Investment Research cut shares of News Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $17.00 price target on shares of News Corporation in a report on Monday, May 22nd. Finally, Rosenblatt Securities began coverage on shares of News Corporation in a report on Friday, July 14th. They issued a “buy” rating and a $17.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $15.20.
News Corporation 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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