Assenagon Asset Management S.A. Boosts Stake in News Co. (NASDAQ:NWSA)

Assenagon Asset Management S.A. lifted its holdings in shares of News Co. (NASDAQ:NWSA) by 69.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 455,101 shares of the company’s stock after purchasing an additional 186,775 shares during the quarter. Assenagon Asset Management S.A. owned about 0.08% of News worth $12,119,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NWSA. International Assets Investment Management LLC acquired a new position in News during the second quarter worth $26,000. Acadian Asset Management LLC lifted its stake in News by 95.1% during the 2nd quarter. Acadian Asset Management LLC now owns 1,038 shares of the company’s stock worth $28,000 after acquiring an additional 506 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in News during the 1st quarter valued at about $34,000. Covestor Ltd grew its position in News by 125.8% in the 1st quarter. Covestor Ltd now owns 1,727 shares of the company’s stock valued at $45,000 after acquiring an additional 962 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in News during the second quarter worth about $46,000. 66.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

News Stock Up 0.2 %

Shares of News stock opened at $25.99 on Monday. 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 Co. has a 52-week low of $20.11 and a 52-week high of $28.62. The company has a market capitalization of $14.78 billion, a P/E ratio of 56.50 and a beta of 1.34. The company has a 50 day moving average of $26.67 and a 200 day moving average of $26.54.

News (NASDAQ:NWSA) last issued its earnings results on Thursday, August 8th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. News had a net margin of 2.64% and a return on equity of 4.51%. The firm had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the previous year, the firm posted $0.14 earnings per share. The company’s revenue was up 5.9% compared to the same quarter last year. As a group, research analysts forecast that News Co. will post 0.85 EPS for the current fiscal year.

News Announces Dividend

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

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