SG Americas Securities LLC Reduces Position in News Co. (NASDAQ:NWSA)

SG Americas Securities LLC cut its holdings in shares of News Co. (NASDAQ:NWSA) by 81.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,476 shares of the company’s stock after selling 168,778 shares during the period. SG Americas Securities LLC’s holdings in News were worth $998,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of NWSA. US Bancorp DE boosted its position in News by 2.4% in the first quarter. US Bancorp DE now owns 18,406 shares of the company’s stock worth $482,000 after purchasing an additional 424 shares during the last quarter. Empirical Finance LLC boosted its position in News by 3.5% in the first quarter. Empirical Finance LLC now owns 13,898 shares of the company’s stock worth $364,000 after purchasing an additional 465 shares during the last quarter. Fifth Third Bancorp boosted its position in News by 3.7% in the second quarter. Fifth Third Bancorp now owns 13,802 shares of the company’s stock worth $381,000 after purchasing an additional 496 shares during the last quarter. Acadian Asset Management LLC boosted its position in News by 95.1% in the second quarter. Acadian Asset Management LLC now owns 1,038 shares of the company’s stock worth $28,000 after purchasing an additional 506 shares during the last quarter. Finally, CWM LLC boosted its position in News by 7.8% in the second quarter. CWM LLC now owns 7,339 shares of the company’s stock worth $202,000 after purchasing an additional 532 shares during the last quarter. 66.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. 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 report on Thursday, August 15th. Loop Capital raised their price objective on News from $38.00 to $39.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Four research analysts have rated the stock with a buy rating, According to MarketBeat, News presently has an average rating of “Buy” and an average price target of $38.00.

News Stock Down 2.3 %

Shares of NWSA opened at $25.68 on Friday. The business’s 50 day moving average is $26.82 and its 200 day moving average is $26.50. The company has a market capitalization of $14.63 billion, a PE ratio of 71.33 and a beta of 1.34. News Co. has a 12-month low of $20.11 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.

News (NASDAQ:NWSA) last issued its earnings results on Thursday, August 8th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.01. The company had revenue of $2.58 billion for 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 firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the company earned $0.14 EPS. Research analysts expect that News Co. will post 0.87 earnings per share 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 dividend payout ratio (DPR) is presently 55.56%.

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.