MBB Public Markets I LLC Purchases New Shares in News Co. (NASDAQ:NWSA)

MBB Public Markets I LLC bought a new stake in shares of News Co. (NASDAQ:NWSA) in the 2nd quarter, HoldingsChannel reports. The fund bought 29,110 shares of the company’s stock, valued at approximately $803,000.

Several other large investors have also recently made changes to their positions in the business. Mitsubishi UFJ Trust & Banking Corp increased its holdings in 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 during the last quarter. Bessemer Group Inc. increased its holdings in News by 3,107.1% in the 1st quarter. Bessemer Group Inc. now owns 59,363 shares of the company’s stock worth $1,555,000 after acquiring an additional 57,512 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its holdings in News by 164.8% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 44,443 shares of the company’s stock worth $1,164,000 after acquiring an additional 27,662 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in News by 59.6% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 72,078 shares of the company’s stock worth $1,987,000 after acquiring an additional 26,911 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in News by 73.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 88,809 shares of the company’s stock worth $2,325,000 after acquiring an additional 37,692 shares during the last quarter. 66.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on NWSA shares. Loop Capital raised their target price on News from $38.00 to $39.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. JPMorgan Chase & Co. raised their target price on News from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Four analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $38.00.

News Stock Performance

Shares of NWSA opened at $26.41 on Wednesday. The company has a market cap of $15.05 billion, a PE ratio of 73.36 and a beta of 1.34. 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 stock has a 50-day moving average price of $27.04 and a 200-day moving average price of $26.49. News Co. has a 12-month low of $19.25 and a 12-month high of $28.62.

News (NASDAQ:NWSA) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The firm had revenue of $2.58 billion during 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 company’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter last year, the company posted $0.14 EPS. As a group, equities analysts forecast that News Co. will post 0.87 earnings per share for the current fiscal year.

News Announces Dividend

The firm 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 (DPR) is presently 55.56%.

About News

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.