News Corp Class B (NWS) Lifted to “Sell” at BidaskClub

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BidaskClub upgraded shares of News Corp Class B (NASDAQ:NWS) from a strong sell rating to a sell rating in a report released on Thursday.

Shares of News Corp Class B stock opened at $14.45 on Thursday. The company has a quick ratio of 1.22, a current ratio of 1.33 and a debt-to-equity ratio of 0.14. News Corp Class B has a 1-year low of $13.10 and a 1-year high of $17.70. The firm has a market capitalization of $7.84 billion, a PE ratio of 29.89 and a beta of 1.76.

The company also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, October 17th. Stockholders of record on Wednesday, September 12th will be paid a $0.10 dividend. This represents a dividend yield of 1.43%. The ex-dividend date of this dividend is Tuesday, September 11th.

In other news, CEO Robert J. Thomson acquired 72,000 shares of News Corp Class B stock in a transaction dated Wednesday, August 15th. The stock was acquired at an average cost of $14.13 per share, for a total transaction of $1,017,360.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 39.40% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. Independent Franchise Partners LLP increased its position in News Corp Class B by 34.1% during the first quarter. Independent Franchise Partners LLP now owns 2,052,766 shares of the company’s stock worth $33,049,000 after acquiring an additional 521,444 shares during the period. Schwab Charles Investment Management Inc. increased its position in News Corp Class B by 3.2% during the first quarter. Schwab Charles Investment Management Inc. now owns 627,343 shares of the company’s stock worth $10,101,000 after acquiring an additional 19,331 shares during the period. Guggenheim Capital LLC increased its position in News Corp Class B by 0.8% during the first quarter. Guggenheim Capital LLC now owns 603,141 shares of the company’s stock worth $9,711,000 after acquiring an additional 4,961 shares during the period. Barclays PLC increased its position in News Corp Class B by 67.6% during the first quarter. Barclays PLC now owns 294,287 shares of the company’s stock worth $4,741,000 after acquiring an additional 118,672 shares during the period. Finally, Mackay Shields LLC bought a new position in News Corp Class B during the first quarter worth $4,405,000. 9.74% of the stock is currently owned by institutional investors and hedge funds.

About News Corp Class B

News Corporation, a media and information services company, creates and distributes content for consumers and businesses worldwide. It operates through News and Information Services, Book Publishing, Digital Real Estate Services, and Cable Network Programming segments. The company distributes content and data products, including The Wall Street Journal, Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires, Barron's, MarketWatch, Dow Jones PEVC, and DJX through various media channels, such as newspapers, newswires, Websites, applications for mobile devices, tablets and e-book readers, newsletters, magazines, proprietary databases, conferences, and videos.

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