News Corporation $NWSA Shares Bought by Krilogy Financial LLC

Krilogy Financial LLC grew its holdings in shares of News Corporation (NASDAQ:NWSA) by 93.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 35,482 shares of the company’s stock after purchasing an additional 17,134 shares during the quarter. Krilogy Financial LLC’s holdings in News were worth $1,042,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Sax Wealth Advisors LLC purchased a new position in News during the third quarter worth about $565,000. NorthCrest Asset Manangement LLC grew its holdings in News by 87.2% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 38,692 shares of the company’s stock valued at $1,121,000 after buying an additional 18,026 shares during the period. Riversedge Advisors LLC purchased a new stake in News in the 3rd quarter valued at about $288,000. LifeGoal Investments LLC purchased a new stake in News in the 3rd quarter valued at about $254,000. Finally, CX Institutional increased its stake in shares of News by 13.2% during the 3rd quarter. CX Institutional now owns 12,393 shares of the company’s stock valued at $355,000 after acquiring an additional 1,442 shares during the last quarter. Institutional investors and hedge funds own 66.97% of the company’s stock.

News Trading Down 0.6%

News stock traded down $0.19 during midday trading on Friday, reaching $30.03. The stock had a trading volume of 3,070,158 shares, compared to its average volume of 4,456,817. News Corporation has a twelve month low of $22.20 and a twelve month high of $31.66. The stock has a market capitalization of $16.25 billion, a PE ratio of 29.16 and a beta of 0.97. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.51 and a current ratio of 1.62. The stock’s 50-day simple moving average is $29.60 and its 200 day simple moving average is $27.51.

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, beating analysts’ consensus estimates of $0.21 by $0.14. The firm had revenue of $2.34 billion during 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.19 earnings per share. Analysts expect that News Corporation will post 1.31 EPS for the current year.

News Announces Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 9th were paid a $0.10 dividend. This represents a dividend yield of 68.0%. The ex-dividend date of this dividend was Wednesday, September 9th. News’s payout ratio is currently 19.42%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Zacks Research lowered shares of News from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. JPMorgan Chase & Co. boosted their target price on shares of News from $36.00 to $38.00 and gave the company an “overweight” rating in a report on Friday, August 21st. Wall Street Zen upgraded shares of News from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 3rd. Weiss Ratings raised shares of News from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $35.00 price target on shares of News in a research note on Thursday, August 6th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, News currently has an average rating of “Moderate Buy” and a consensus price target of $38.50.

News Company Profile

News Corp (NASDAQ: NWSA) is a global media and information-services company that creates and distributes news, business information, books, digital content and real estate services. Its operations serve consumers, professionals, institutions and businesses across the United States, the United Kingdom, Australia and other international markets.

The company’s Dow Jones division provides business and financial news, data and information through publications and platforms including The Wall Street Journal, Barron’s, MarketWatch, Factiva and Dow Jones Newswires.