News Co. (NASDAQ:NWSA) Holdings Lowered by Marshall Wace LLP

Marshall Wace LLP cut its stake in News Co. (NASDAQ:NWSA) by 57.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,346 shares of the company’s stock after selling 85,744 shares during the period. Marshall Wace LLP’s holdings in News were worth $1,746,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can raised its stake in shares of News by 16.8% in the 2nd quarter. Bank of Montreal Can now owns 330,982 shares of the company’s stock worth $9,231,000 after buying an additional 47,650 shares in the last quarter. Public Sector Pension Investment Board raised its position in News by 74.2% in the second quarter. Public Sector Pension Investment Board now owns 14,971 shares of the company’s stock worth $413,000 after acquiring an additional 6,379 shares in the last quarter. DRW Securities LLC acquired a new stake in News in the 2nd quarter valued at about $729,000. ProShare Advisors LLC boosted its position in shares of News by 5.2% during the 2nd quarter. ProShare Advisors LLC now owns 72,316 shares of the company’s stock valued at $1,994,000 after purchasing an additional 3,605 shares in the last quarter. Finally, Profund Advisors LLC raised its holdings in shares of News by 17.7% in the 2nd quarter. Profund Advisors LLC now owns 12,335 shares of the company’s stock worth $340,000 after purchasing an additional 1,859 shares in the last quarter. Institutional investors own 66.97% of the company’s stock.

News Stock Up 0.5 %

NASDAQ:NWSA opened at $26.14 on Friday. The business’s fifty day moving average price is $26.94 and its 200 day moving average price is $26.50. The firm has a market capitalization of $14.90 billion, a price-to-earnings ratio of 72.61 and a beta of 1.34. 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 Co. has a 1-year low of $19.58 and a 1-year high of $28.62.

News (NASDAQ:NWSA) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.17 earnings per share (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 business had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same period in the prior year, the firm earned $0.14 earnings per share. The firm’s revenue was up 5.9% compared to the same quarter last year. On average, sell-side analysts forecast that News Co. will post 0.87 earnings per share for the current fiscal year.

News Announces Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Wednesday, September 11th will be issued a dividend of $0.10 per share. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 11th. News’s dividend payout ratio is currently 55.56%.

Analyst Ratings Changes

Several analysts have issued reports on the company. JPMorgan Chase & Co. boosted their price objective on News from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Loop Capital boosted 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 analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $38.00.

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.