DoubleLine ETF Adviser LP Increases Stake in News Co. (NASDAQ:NWS)

DoubleLine ETF Adviser LP grew its position in News Co. (NASDAQ:NWS) by 9.1% during the 2nd quarter, Holdings Channel reports. The fund owned 14,779 shares of the company’s stock after buying an additional 1,236 shares during the quarter. DoubleLine ETF Adviser LP’s holdings in News were worth $420,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Covestor Ltd raised its position in News by 69.9% in the first quarter. Covestor Ltd now owns 1,201 shares of the company’s stock worth $33,000 after acquiring an additional 494 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of News in the 1st quarter valued at about $65,000. iA Global Asset Management Inc. acquired a new stake in shares of News in the first quarter valued at about $76,000. ORG Partners LLC purchased a new stake in News during the second quarter worth about $81,000. Finally, GAMMA Investing LLC grew its position in News by 18.8% during the first quarter. GAMMA Investing LLC now owns 3,392 shares of the company’s stock worth $92,000 after buying an additional 537 shares during the period. 14.63% of the stock is currently owned by institutional investors and hedge funds.

News Stock Up 0.4 %

News stock opened at $27.75 on Friday. News Co. has a fifty-two week low of $20.01 and a fifty-two week high of $29.59. The firm has a market capitalization of $15.81 billion, a price-to-earnings ratio of 77.08 and a beta of 1.37. The stock’s fifty day moving average is $28.15 and its two-hundred day moving average is $27.38. 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:NWS) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.17 EPS for the quarter. The firm had revenue of $2.58 billion for the quarter. News had a net margin of 2.64% and a return on equity of 4.51%.

News Dividend Announcement

The business also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, October 9th. Investors 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 is currently 55.56%.

Wall Street Analysts Forecast Growth

Separately, Loop Capital upgraded shares of News to a “strong-buy” rating in a research report on Tuesday, September 10th.

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.