Wealth Enhancement Advisory Services LLC grew its position in shares of News Corp (NASDAQ:NWSA) by 91.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 173,106 shares of the company’s stock after acquiring an additional 82,488 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in News were worth $2,316,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in NWSA. Amica Retiree Medical Trust acquired a new stake in shares of News in the 2nd quarter valued at approximately $33,000. Advisor Group Inc. boosted its holdings in shares of News by 83.2% in the 4th quarter. Advisor Group Inc. now owns 3,355 shares of the company’s stock valued at $38,000 after buying an additional 1,524 shares during the last quarter. Municipal Employees Retirement System of Michigan acquired a new stake in shares of News in the 4th quarter valued at approximately $112,000. Corient Capital Partners LLC acquired a new stake in shares of News in the 1st quarter valued at approximately $157,000. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new stake in shares of News in the 1st quarter valued at approximately $162,000. 61.32% of the stock is owned by hedge funds and other institutional investors.
News stock traded up $0.26 during mid-day trading on Thursday, hitting $13.64. 196,947 shares of the company’s stock traded hands, compared to its average volume of 3,306,588. The company has a 50 day moving average of $13.34. News Corp has a fifty-two week low of $10.65 and a fifty-two week high of $14.38. The stock has a market capitalization of $8.21 billion, a PE ratio of 29.65 and a beta of 1.51. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.04 and a current ratio of 1.15.
News (NASDAQ:NWSA) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.05. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.56 billion. News had a return on equity of 2.59% and a net margin of 1.54%. The company’s quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.08 EPS. Equities research analysts forecast that News Corp will post 0.4 EPS for the current year.
The company also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Wednesday, September 11th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, September 10th. News’s payout ratio is 43.48%.
Several equities research analysts have recently commented on NWSA shares. Credit Suisse Group raised News from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $13.70 to $15.30 in a report on Sunday. BidaskClub downgraded News from a “hold” rating to a “sell” rating in a report on Saturday, July 6th. ValuEngine raised News from a “sell” rating to a “hold” rating in a report on Monday, June 17th. Finally, JPMorgan Chase & Co. downgraded News from a “neutral” rating to an “underweight” rating in a report on Thursday, July 18th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $14.45.
News Company Profile
News Corporation, a media and information services company, creates and distributes content for consumers and businesses worldwide. It operates in five segments: News and Information Services, Book Publishing, Digital Real Estate Services, Subscription Video Services, and Other. The company distributes content and data products, including The Wall Street Journal, Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires, Barron's, MarketWatch, and DJX through various media channels, such as newspapers, newswires, Websites, mobile device applications, tablets and e-book readers, newsletters, magazines, proprietary databases, live journalism, video, and podcasts.
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