News Corporation $NWSA Stock Holdings Cut by Pacer Advisors Inc.

Pacer Advisors Inc. cut its position in shares of News Corporation (NASDAQ:NWSA) by 70.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 18,517 shares of the company’s stock after selling 43,789 shares during the quarter. Pacer Advisors Inc.’s holdings in News were worth $462,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Parallel Advisors LLC boosted its stake in News by 27.2% during the first quarter. Parallel Advisors LLC now owns 10,549 shares of the company’s stock valued at $263,000 after buying an additional 2,259 shares in the last quarter. NewEdge Advisors LLC raised its position in News by 39.3% in the first quarter. NewEdge Advisors LLC now owns 153,553 shares of the company’s stock worth $3,828,000 after acquiring an additional 43,324 shares in the last quarter. Glenmede Trust Co. NA lifted its holdings in News by 328.0% in the 1st quarter. Glenmede Trust Co. NA now owns 372,518 shares of the company’s stock valued at $9,287,000 after acquiring an additional 285,472 shares during the last quarter. Bank of America Corp DE boosted its position in shares of News by 80.9% during the 1st quarter. Bank of America Corp DE now owns 4,069,041 shares of the company’s stock valued at $101,441,000 after purchasing an additional 1,819,652 shares in the last quarter. Finally, Kentucky Retirement Systems acquired a new position in shares of News in the 1st quarter worth approximately $1,025,000. Institutional investors own 66.97% of the company’s stock.

News Trading Up 0.5%

Shares of NASDAQ NWSA opened at $28.63 on Wednesday. The company has a current ratio of 1.62, a quick ratio of 1.51 and a debt-to-equity ratio of 0.22. News Corporation has a one year low of $22.20 and a one year high of $31.61. The business has a 50-day moving average price of $26.97 and a two-hundred day moving average price of $25.73. The firm has a market capitalization of $15.67 billion, a PE ratio of 27.80 and a beta of 0.88.

News (NASDAQ:NWSA) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.14. The business had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.25 billion. News had a net margin of 6.35% and a return on equity of 7.09%. The firm’s revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.19 earnings per share. As a group, analysts predict that News Corporation will post 1.31 earnings per share for the current fiscal year.

News Announces Dividend

The business also recently announced a dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Wednesday, September 9th will be given a $0.10 dividend. The ex-dividend date is Wednesday, September 9th. This represents a yield of 68.0%. News’s dividend payout ratio is presently 19.42%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NWSA. Morgan Stanley reissued an “overweight” rating and set a $35.00 target price on shares of News in a research note on Thursday, August 6th. Wall Street Zen upgraded shares of News from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Weiss Ratings raised News from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Zacks Research lowered News from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. Finally, Citigroup dropped their price target on News from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, May 13th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, News has a consensus rating of “Moderate Buy” and an average target price of $38.50.

News Profile

News Corporation (NASDAQ: NWSA) is a global diversified media and information services company headquartered in New York City. It operates through two principal segments: News and Information Services, and Digital Real Estate Services. The company’s news and information division oversees a portfolio of leading newspapers, magazines and digital platforms, offering content across print and online channels. Its properties include Dow Jones, publisher of The Wall Street Journal and Barron’s, News UK titles such as The Times and The Sun, as well as News Corp Australia mastheads.

In addition to its journalism assets, News Corp is a significant player in book publishing through HarperCollins, one of the world’s largest consumer publishers.