News Co. (NASDAQ:NWSA) Shares Purchased by Prestige Wealth Management Group LLC

Prestige Wealth Management Group LLC lifted its holdings in shares of News Co. (NASDAQ:NWSA) by 16.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,774 shares of the company’s stock after acquiring an additional 799 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in News were worth $159,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. increased its position in shares of News by 5.8% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 104,419 shares of the company’s stock worth $2,563,000 after purchasing an additional 5,697 shares during the last quarter. USA Financial Formulas bought a new position in News during the 4th quarter worth approximately $1,436,000. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of News by 13.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 230,799 shares of the company’s stock worth $6,027,000 after acquiring an additional 27,324 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of News by 3,107.1% in the 1st quarter. Bessemer Group Inc. now owns 59,363 shares of the company’s stock valued at $1,555,000 after acquiring an additional 57,512 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its position in shares of News by 164.8% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 44,443 shares of the company’s stock valued at $1,164,000 after acquiring an additional 27,662 shares in the last quarter. 66.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. lifted their price objective on shares of News from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th.

News Stock Performance

NASDAQ NWSA traded down $0.36 during trading hours on Friday, reaching $26.57. The company’s stock had a trading volume of 2,962,317 shares, compared to its average volume of 2,729,749. The company has a current ratio of 1.43, a quick ratio of 1.33 and a debt-to-equity ratio of 0.32. The business has a 50-day simple moving average of $27.47 and a 200 day simple moving average of $26.48. News Co. has a 52 week low of $19.25 and a 52 week high of $28.62. The stock has a market cap of $15.14 billion, a PE ratio of 73.81 and a beta of 1.34.

News (NASDAQ:NWSA) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.01. The business had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.49 billion. News had a return on equity of 4.51% and a net margin of 2.64%. The business’s revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the business posted $0.14 EPS. Equities research analysts predict that News Co. will post 0.87 earnings per share for the current fiscal year.

News Announces Dividend

The company also recently declared a Semi-Annual dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Wednesday, September 11th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a dividend yield of 0.7%. News’s dividend payout ratio is currently 55.56%.

News Company Profile

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 in six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.