NewEdge Advisors LLC Acquires 43,324 Shares of News Corporation $NWSA

by · The Cerbat Gem

NewEdge Advisors LLC boosted its holdings in shares of News Corporation (NASDAQ:NWSA – Free Report) by 39.3% in the first quarter, Holdings Channel reports. The firm owned 153,553 shares of the company’s stock after purchasing an additional 43,324 shares during the quarter. NewEdge Advisors LLC’s holdings in News were worth $3,828,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new position in News during the 3rd quarter valued at about $31,000. CYBER HORNET ETFs LLC acquired a new stake in shares of News during the second quarter worth approximately $30,000. Advisory Services Network LLC bought a new position in shares of News in the third quarter valued at approximately $35,000. Brown Brothers Harriman & Co. boosted its holdings in shares of News by 154.5% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,285 shares of the company’s stock worth $39,000 after acquiring an additional 780 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in shares of News by 561.1% in the 4th quarter. Global Retirement Partners LLC now owns 1,732 shares of the company’s stock worth $45,000 after acquiring an additional 1,470 shares in the last quarter. Institutional investors own 66.97% of the company’s stock.

News Trading Up 0.1%

Shares of NASDAQ NWSA opened at $28.67 on Thursday. News Corporation has a fifty-two week low of $22.20 and a fifty-two week high of $31.61. The firm has a market capitalization of $15.70 billion, a P/E ratio of 27.83 and a beta of 0.88. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.62 and a quick ratio of 1.51. The company’s 50 day simple moving average is $27.02 and its 200 day simple moving average is $25.75.

News (NASDAQ:NWSA – Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.14. The firm had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.25 billion. News had a net margin of 6.35% and a return on equity of 7.09%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.19 EPS. On average, analysts predict that News Corporation will post 1.31 EPS for the current year.

News Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on NWSA shares. Citigroup dropped their price target on News from $39.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Morgan Stanley restated an “overweight” rating and issued a $35.00 target price on shares of News in a research note on Thursday, August 6th. Weiss Ratings raised News from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Wall Street Zen raised shares of News from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, Zacks Research downgraded shares of News from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $38.50.

Check Out Our Latest Analysis on News

About News

(Free Report)

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.

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