Forsta AP Fonden Takes $2.58 Million Position in News Co. (NASDAQ:NWSA)

Forsta AP Fonden acquired a new position in News Co. (NASDAQ:NWSA) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 96,900 shares of the company’s stock, valued at approximately $2,580,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new position in shares of News in the 2nd quarter valued at $26,000. Acadian Asset Management LLC increased its holdings in 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 purchasing an additional 506 shares during the last quarter. Fidelis Capital Partners LLC acquired a new position in News in the first quarter valued at about $34,000. Covestor Ltd boosted its holdings in News by 125.8% during the first quarter. Covestor Ltd now owns 1,727 shares of the company’s stock worth $45,000 after buying an additional 962 shares during the last quarter. Finally, Innealta Capital LLC bought a new stake in shares of News in the 2nd quarter valued at about $46,000. 66.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

News Trading Down 0.2 %

NASDAQ:NWSA opened at $27.28 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.43 and a quick ratio of 1.33. The business’s 50-day simple moving average is $26.64 and its 200-day simple moving average is $26.57. News Co. has a fifty-two week low of $20.35 and a fifty-two week high of $28.62. The stock has a market capitalization of $15.51 billion, a PE ratio of 59.30 and a beta of 1.34.

News (NASDAQ:NWSA) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.17 earnings per share for the quarter, beating 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 firm had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the previous year, the firm posted $0.14 earnings per share. The business’s revenue was up 5.9% on a year-over-year basis. Sell-side analysts expect that News Co. will post 0.85 earnings per share for the current fiscal year.

News Dividend Announcement

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

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.