iSAM Funds UK Ltd Decreases Stake in News Corporation $NWSA

iSAM Funds UK Ltd cut its position in News Corporation (NASDAQ:NWSA) by 46.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,100 shares of the company’s stock after selling 19,289 shares during the period. iSAM Funds UK Ltd’s holdings in News were worth $549,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of News during the 3rd quarter worth approximately $31,000. CYBER HORNET ETFs LLC purchased a new position in shares of News during the second quarter worth about $30,000. Advisory Services Network LLC acquired a new position in shares of News in the third quarter valued at approximately $35,000. Brown Brothers Harriman & Co. increased its stake in News by 154.5% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,285 shares of the company’s stock valued at $39,000 after buying an additional 780 shares during the period. Finally, Global Retirement Partners LLC boosted its holdings in shares of News by 561.1% in the fourth quarter. Global Retirement Partners LLC now owns 1,732 shares of the company’s stock valued at $45,000 after acquiring an additional 1,470 shares in the last quarter. 66.97% of the stock is currently owned by institutional investors and hedge funds.

News Stock Up 0.1%

Shares of NASDAQ NWSA opened at $30.65 on Thursday. The stock has a market capitalization of $16.58 billion, a price-to-earnings ratio of 29.76 and a beta of 0.91. News Corporation has a 52 week low of $22.20 and a 52 week high of $31.66. The firm has a 50-day moving average price of $28.27 and a 200 day moving average price of $26.28. The company has a quick ratio of 1.51, a current ratio of 1.62 and a debt-to-equity ratio of 0.22.

News (NASDAQ:NWSA) last issued its earnings results 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 net margin of 6.35% and a return on equity of 7.09%. The company had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same period in the prior year, the business posted $0.19 earnings per share. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. Equities research analysts anticipate that News Corporation will post 1.31 EPS for the current fiscal year.

News Announces Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, October 7th. Investors of record on Wednesday, September 9th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a yield of 68.0%. News’s payout ratio is currently 19.42%.

Wall Street Analyst Weigh In

NWSA has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price target on shares of News from $36.00 to $38.00 and gave the stock an “overweight” rating in a report on Friday, August 21st. Zacks Research cut News from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. Citigroup cut their target price on News from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Weiss Ratings raised News from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Finally, Morgan Stanley restated an “overweight” rating and issued a $35.00 price target on shares of News in a research note on Thursday, August 6th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.50.

News Company Profile

News Corporation (NASDAQ: NWSA) is a global diversified media and information services company headquartered in New York City. It operates through two principal segments: News and Information Services, and Digital Real Estate Services. The company’s news and information division oversees a portfolio of leading newspapers, magazines and digital platforms, offering content across print and online channels. Its properties include Dow Jones, publisher of The Wall Street Journal and Barron’s, News UK titles such as The Times and The Sun, as well as News Corp Australia mastheads.

In addition to its journalism assets, News Corp is a significant player in book publishing through HarperCollins, one of the world’s largest consumer publishers.