News Corporation $NWSA Stock Position Lessened by Metropolis Capital Ltd

Metropolis Capital Ltd lowered its position in shares of News Corporation (NASDAQ:NWSA) by 6.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,566,187 shares of the company’s stock after selling 625,918 shares during the period. News accounts for approximately 6.8% of Metropolis Capital Ltd’s investment portfolio, making the stock its 7th biggest holding. Metropolis Capital Ltd owned approximately 1.58% of News worth $245,421,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. NewEdge Advisors LLC raised its holdings in News by 41.0% in the 2nd quarter. NewEdge Advisors LLC now owns 216,552 shares of the company’s stock valued at $5,377,000 after acquiring an additional 62,999 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of News during the 2nd quarter worth $2,845,000. Nykredit A S acquired a new stake in shares of News during the 2nd quarter worth $1,807,000. Sei Investments Co. grew its holdings in shares of News by 120.6% during the 1st quarter. Sei Investments Co. now owns 2,326,616 shares of the company’s stock worth $58,002,000 after purchasing an additional 1,272,083 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of News by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 4,245,597 shares of the company’s stock worth $105,842,000 after purchasing an additional 94,368 shares during the period. 66.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NWSA. Wall Street Zen raised News from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 3rd. JPMorgan Chase & Co. increased their price objective on shares of News from $36.00 to $38.00 and gave the stock an “overweight” rating in a research note on Friday, August 21st. Raymond James Financial started coverage on shares of News in a research note on Monday. They set an “outperform” rating and a $35.00 price objective 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. Finally, Morgan Stanley restated an “overweight” rating and issued a $35.00 target price on shares of News in a research report on Thursday, August 6th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.80.

News Price Performance

Shares of News stock traded up $0.46 during trading on Tuesday, reaching $30.52. 918,064 shares of the company’s stock were exchanged, compared to its average volume of 4,379,192. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.51 and a current ratio of 1.62. News Corporation has a 1-year low of $22.20 and a 1-year high of $31.66. The company has a market cap of $16.51 billion, a P/E ratio of 29.67 and a beta of 0.97. The firm’s 50-day moving average price is $29.63 and its 200 day moving average price is $27.57.

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

News Dividend Announcement

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

News Profile

News Corp is a global media and information-services company whose Class A common stock trades on the Nasdaq under the symbol NWSA. The company operates a portfolio of businesses spanning digital and print publishing, subscription products, professional information, real estate services and book publishing.

Its principal businesses include Dow Jones, which provides financial news, data, research and professional information through publications such as The Wall Street Journal and Barron’s; News Corp Australia and News UK, which operate newspapers and digital news platforms; and HarperCollins Publishers, which publishes fiction, nonfiction, educational and religious titles.