News (NASDAQ:NWS) Hits New 52-Week High – Here’s What Happened

Shares of News Co. (NASDAQ:NWS) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $29.61 and last traded at $29.40, with a volume of 71481 shares trading hands. The stock had previously closed at $29.15.

Analyst Ratings Changes

Separately, Loop Capital upgraded shares of News to a “strong-buy” rating in a research note on Tuesday, September 10th.

News Stock Performance

The stock has a market capitalization of $16.70 billion, a P/E ratio of 63.37 and a beta of 1.36. The stock has a 50 day simple moving average of $27.97 and a two-hundred day simple moving average of $27.56. The company has a quick ratio of 1.33, a current ratio of 1.43 and a debt-to-equity ratio of 0.32.

News (NASDAQ:NWS) last issued its earnings results on Thursday, August 8th. The company reported $0.17 earnings per share for the quarter. News had a net margin of 2.64% and a return on equity of 4.51%. The business had revenue of $2.58 billion for the quarter.

News Dividend Announcement

The company also recently announced a Semi-Annual dividend, which was paid on Wednesday, October 9th. Stockholders of record on Wednesday, September 11th were issued a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, September 11th. This represents a dividend yield of 0.7%. News’s payout ratio is 43.48%.

Hedge Funds Weigh In On News

Institutional investors have recently bought and sold shares of the business. Dorsey Wright & Associates boosted its stake in shares of News by 0.4% during the 2nd quarter. Dorsey Wright & Associates now owns 108,906 shares of the company’s stock worth $3,092,000 after acquiring an additional 409 shares during the period. QRG Capital Management Inc. boosted its position in News by 1.4% during the second quarter. QRG Capital Management Inc. now owns 35,065 shares of the company’s stock worth $995,000 after purchasing an additional 486 shares during the period. Covestor Ltd increased its holdings in shares of News by 69.9% in the first quarter. Covestor Ltd now owns 1,201 shares of the company’s stock valued at $33,000 after purchasing an additional 494 shares during the last quarter. Daiwa Securities Group Inc. raised its position in shares of News by 8.7% in the second quarter. Daiwa Securities Group Inc. now owns 7,638 shares of the company’s stock valued at $217,000 after purchasing an additional 612 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of News by 11.7% during the 3rd quarter. GAMMA Investing LLC now owns 6,061 shares of the company’s stock worth $169,000 after buying an additional 634 shares during the period. Institutional investors and hedge funds own 14.63% of the company’s stock.

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