Brighton Jones LLC Invests $1.01 Million in News Corporation $NWSA

by · The Markets Daily

Brighton Jones LLC purchased a new position in News Corporation (NASDAQ:NWSA – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 33,960 shares of the company’s stock, valued at approximately $1,009,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Focus Partners Advisor Solutions LLC lifted its stake in shares of News by 156.7% in the second quarter. Focus Partners Advisor Solutions LLC now owns 34,443 shares of the company’s stock worth $1,024,000 after buying an additional 21,025 shares in the last quarter. AlphaQuest LLC lifted its stake in shares of News by 8.8% in the second quarter. AlphaQuest LLC now owns 60,788 shares of the company’s stock worth $1,807,000 after buying an additional 4,926 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of News by 6.8% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 894,503 shares of the company’s stock worth $26,585,000 after buying an additional 56,609 shares in the last quarter. Forum Financial Management LP lifted its stake in shares of News by 6.0% in the second quarter. Forum Financial Management LP now owns 11,568 shares of the company’s stock worth $344,000 after buying an additional 653 shares in the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new position in shares of News in the second quarter worth about $30,000. 66.97% of the stock is owned by hedge funds and other institutional investors.

News Price Performance

Shares of NWSA opened at $26.75 on Tuesday. News Corporation has a 1-year low of $23.38 and a 1-year high of $31.61. The stock has a market cap of $15.11 billion, a PE ratio of 12.86 and a beta of 1.17. The firm has a 50-day simple moving average of $28.72 and a two-hundred day simple moving average of $28.48. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.84 and a quick ratio of 1.72.

News (NASDAQ:NWSA – Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. News had a net margin of 13.21% and a return on equity of 5.66%. The business had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same period last year, the business earned $0.17 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. As a group, analysts forecast that News Corporation will post 0.94 EPS for the current year.

News Announces Dividend

The firm also recently disclosed a half year 25 dividend, which was paid on Wednesday, October 8th. Investors of record on Wednesday, September 10th were issued a $0.10 dividend. The ex-dividend date was Wednesday, September 10th. This represents a dividend yield of 70.0%. News’s payout ratio is 9.62%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on NWSA shares. Macquarie reissued a “neutral” rating and issued a $32.70 price target on shares of News in a research note on Wednesday, August 6th. JPMorgan Chase & Co. lifted their target price on shares of News from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. Zacks Research downgraded shares of News from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 23rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of News in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.62.

View Our Latest Stock Report on NWSA

News Profile

(Free Report)

News Corporation, a media and information services company, creates and distributes authoritative and engaging content, and other products and services for consumers and businesses worldwide. It operates through six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.

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