Mirae Asset Global Investments Co. Ltd. Boosts Stock Holdings in News Co. (NASDAQ:NWSA)

Mirae Asset Global Investments Co. Ltd. grew its position in News Co. (NASDAQ:NWSA) by 43.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,308 shares of the company’s stock after acquiring an additional 8,547 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in News were worth $750,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Metropolis Capital Ltd raised its holdings in News by 8.9% in the 3rd quarter. Metropolis Capital Ltd now owns 6,779,137 shares of the company’s stock valued at $180,528,000 after acquiring an additional 555,789 shares during the last quarter. AQR Capital Management LLC lifted its position in News by 188.3% during the second quarter. AQR Capital Management LLC now owns 491,123 shares of the company’s stock worth $13,540,000 after buying an additional 320,785 shares in the last quarter. Jane Street Group LLC boosted its stake in News by 812.6% during the first quarter. Jane Street Group LLC now owns 229,262 shares of the company’s stock worth $6,002,000 after buying an additional 204,141 shares during the last quarter. Achmea Investment Management B.V. grew its holdings in News by 504.7% in the 2nd quarter. Achmea Investment Management B.V. now owns 236,044 shares of the company’s stock valued at $6,508,000 after buying an additional 197,008 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of News by 28.3% in the 1st quarter. BNP Paribas Financial Markets now owns 858,381 shares of the company’s stock worth $22,472,000 after acquiring an additional 189,192 shares during the last quarter. 66.97% of the stock is owned by institutional investors and hedge funds.

News Stock Up 0.3 %

Shares of NASDAQ:NWSA opened at $27.32 on Friday. The business has a 50-day moving average price of $26.60 and a 200 day moving average price of $26.60. News Co. has a 12-month low of $20.35 and a 12-month high of $28.62. 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 company has a market capitalization of $15.53 billion, a price-to-earnings ratio of 59.39 and a beta of 1.34.

News (NASDAQ:NWSA) last released 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 business had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.49 billion. News had a net margin of 2.64% and a return on equity of 4.51%. The business’s revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.14 EPS. Sell-side analysts expect that News Co. will post 0.85 EPS for the current year.

News Announces Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, October 9th. Stockholders of record on Wednesday, September 11th were paid 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 presently 43.48%.

Wall Street Analyst Weigh In

NWSA has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on shares of News from $34.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Loop Capital increased their price target on shares of News from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Four analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $38.00.

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.