News Co. (NASDAQ:NWSA) Shares Bought by DoubleLine ETF Adviser LP

DoubleLine ETF Adviser LP grew its stake in News Co. (NASDAQ:NWSA) by 8.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 49,983 shares of the company’s stock after purchasing an additional 4,084 shares during the period. DoubleLine ETF Adviser LP’s holdings in News were worth $1,378,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Junto Capital Management LP purchased a new stake in News in the 4th quarter valued at $43,928,000. Contour Asset Management LLC raised its holdings in shares of News by 97.8% in the fourth quarter. Contour Asset Management LLC now owns 3,442,650 shares of the company’s stock valued at $84,517,000 after buying an additional 1,702,483 shares during the last quarter. Balyasny Asset Management L.P. boosted its stake in shares of News by 249.7% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,206,990 shares of the company’s stock worth $54,182,000 after buying an additional 1,575,803 shares during the period. Ossiam grew its holdings in shares of News by 90.5% during the fourth quarter. Ossiam now owns 1,375,447 shares of the company’s stock worth $33,767,000 after buying an additional 653,474 shares during the last quarter. Finally, Fort Baker Capital Management LP increased its position in News by 48.6% in the 4th quarter. Fort Baker Capital Management LP now owns 1,695,158 shares of the company’s stock valued at $41,616,000 after acquiring an additional 554,365 shares during the period. 66.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Loop Capital increased their price objective on News from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. JPMorgan Chase & Co. increased their price target on News from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $38.00.

News Price Performance

Shares of NASDAQ:NWSA opened at $26.25 on Thursday. News Co. has a 52 week low of $19.25 and a 52 week high of $28.62. The company has a 50-day moving average price of $27.11 and a 200 day moving average price of $26.49. The company has a market cap of $14.93 billion, a P/E ratio of 72.92 and a beta of 1.34. 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:NWSA) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01. News had a return on equity of 4.51% and a net margin of 2.64%. The business had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period last year, the firm earned $0.14 EPS. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. Research analysts predict that News Co. will post 0.87 earnings per share for the current year.

News Announces Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Wednesday, September 11th will be paid 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 (DPR) is presently 55.56%.

News 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.