Choreo LLC bought a new position in News Co. (NASDAQ:NWSA – Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 8,793 shares of the company’s stock, valued at approximately $240,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in News in the 4th quarter worth $139,956,000. Contour Asset Management LLC raised its stake in News by 97.8% in the 4th quarter. Contour Asset Management LLC now owns 3,442,650 shares of the company’s stock worth $84,517,000 after acquiring an additional 1,702,483 shares during the last quarter. Bank of New York Mellon Corp raised its stake in News by 2.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,855,605 shares of the company’s stock worth $78,729,000 after acquiring an additional 61,417 shares during the last quarter. Balyasny Asset Management L.P. raised its stake in News by 249.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,206,990 shares of the company’s stock worth $54,182,000 after acquiring an additional 1,575,803 shares during the last quarter. Finally, Junto Capital Management LP purchased a new position in News in the 4th quarter worth $43,928,000. Hedge funds and other institutional investors own 66.97% of the company’s stock.
News Stock Performance
NASDAQ NWSA opened at $26.45 on Thursday. The stock has a 50-day simple moving average of $27.26 and a two-hundred day simple moving average of $26.47. The firm has a market capitalization of $15.07 billion, a P/E ratio of 73.47 and a beta of 1.34. News Co. has a fifty-two week low of $19.25 and a fifty-two week high of $28.62. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.33 and a current ratio of 1.43.
News Announces Dividend
The firm also recently announced a Semi-Annual dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Wednesday, September 11th will be given a dividend of $0.10 per share. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 11th. News’s dividend payout ratio (DPR) is presently 55.56%.
Analyst Upgrades and Downgrades
NWSA has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their target price on News from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Loop Capital lifted their price objective on News from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $38.00.
Check Out Our Latest Stock Report on NWSA
About News
News Corporation, a media and information services company, creates and distributes authoritative and engaging content, and other products and services for consumers and businesses worldwide. It operates in six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.
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