News Co. (NASDAQ:NWSA) Shares Sold by Quarry LP

Quarry LP lessened its stake in shares of News Co. (NASDAQ:NWSA) by 59.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,510 shares of the company’s stock after selling 3,694 shares during the quarter. Quarry LP’s holdings in News were worth $69,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. International Assets Investment Management LLC purchased a new stake in News during the 2nd quarter worth about $26,000. Acadian Asset Management LLC raised its position in shares of News by 95.1% in the second quarter. Acadian Asset Management LLC now owns 1,038 shares of the company’s stock valued at $28,000 after buying an additional 506 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of News during the first quarter valued at approximately $34,000. Innealta Capital LLC purchased a new stake in News in the 2nd quarter worth approximately $46,000. Finally, Covestor Ltd raised its holdings 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 during the last quarter. Hedge funds and other institutional investors own 66.97% of the company’s stock.

Wall Street Analyst Weigh In

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

News Trading Down 0.6 %

NASDAQ NWSA opened at $26.02 on Friday. News Co. has a one year low of $19.25 and a one year high of $28.62. The company’s 50 day moving average price is $26.99 and its 200 day moving average price is $26.50. The firm has a market capitalization of $14.83 billion, a price-to-earnings ratio of 72.28 and a beta of 1.34. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.33 and a current ratio of 1.43.

News (NASDAQ:NWSA) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The company had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.49 billion. News had a return on equity of 4.51% and a net margin of 2.64%. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.14 earnings per share. On average, sell-side analysts predict that News Co. will post 0.87 EPS for the current year.

News Announces Dividend

The company also recently declared a Semi-Annual dividend, which will be paid on Wednesday, October 9th. Investors of record on Wednesday, September 11th will be paid a dividend of $0.10 per share. This represents a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 11th. News’s dividend payout ratio (DPR) is 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.