News Corporation $NWSA Shares Acquired by Engineers Gate Manager LP

Engineers Gate Manager LP boosted its position in shares of News Corporation (NASDAQ:NWSA) by 796.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 364,795 shares of the company’s stock after buying an additional 324,081 shares during the quarter. Engineers Gate Manager LP’s holdings in News were worth $9,058,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. CYBER HORNET ETFs LLC bought a new position in shares of News during the 2nd quarter valued at about $30,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of News in the 3rd quarter worth approximately $31,000. Advisory Services Network LLC acquired a new stake in News during the third quarter valued at approximately $35,000. Brown Brothers Harriman & Co. boosted its holdings in News by 154.5% during the third quarter. Brown Brothers Harriman & Co. now owns 1,285 shares of the company’s stock worth $39,000 after buying an additional 780 shares in the last quarter. Finally, Global Retirement Partners LLC grew its position in News by 561.1% in the fourth quarter. Global Retirement Partners LLC now owns 1,732 shares of the company’s stock worth $45,000 after buying an additional 1,470 shares during the last quarter. 66.97% of the stock is owned by institutional investors and hedge funds.

News Trading Down 0.8%

Shares of NASDAQ NWSA opened at $29.38 on Friday. 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 $31.66. The business has a 50-day moving average price of $28.82 and a two-hundred day moving average price of $26.58. The firm has a market capitalization of $15.90 billion, a PE ratio of 28.52 and a beta of 0.91.

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

News Dividend Announcement

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%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Wall Street Zen upgraded News from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Zacks Research lowered News from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. JPMorgan Chase & Co. boosted their price objective on News from $36.00 to $38.00 and gave the stock an “overweight” rating in a report on Friday, August 21st. Morgan Stanley reiterated an “overweight” rating and issued a $35.00 target price on shares of News in a report on Thursday, August 6th. Finally, Weiss Ratings upgraded shares of News from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $38.50.

About News

News Corp is a global media and information-services company headquartered in New York. The company owns and operates businesses in news, publishing, digital real estate services and subscription-based information products, serving consumers, businesses and professional audiences across multiple markets.

Its portfolio includes Dow Jones, which provides business news, financial information and research through publications and services such as The Wall Street Journal and Barron’s; News UK, publisher of The Times, The Sunday Times and The Sun; and News Corp Australia, which operates newspapers and digital media brands.