Edgestream Partners L.P. Buys 17,393 Shares of News Co. (NASDAQ:NWSA)

Edgestream Partners L.P. increased its stake in News Co. (NASDAQ:NWSA) by 206.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,813 shares of the company’s stock after purchasing an additional 17,393 shares during the period. Edgestream Partners L.P.’s holdings in News were worth $712,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Principal Securities Inc. acquired a new position in shares of News during the fourth quarter valued at $45,000. Janney Montgomery Scott LLC acquired a new position in News during the 4th quarter valued at about $1,255,000. BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of News by 67.6% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 16,781 shares of the company’s stock valued at $412,000 after purchasing an additional 6,768 shares during the last quarter. UBS Group AG grew its position in shares of News by 647.1% during the 4th quarter. UBS Group AG now owns 344,652 shares of the company’s stock worth $8,461,000 after buying an additional 298,521 shares during the period. Finally, Coldstream Capital Management Inc. acquired a new position in News in the fourth quarter valued at approximately $221,000. Institutional investors and hedge funds own 66.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on NWSA. JPMorgan Chase & Co. upped their target price on shares of News from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Loop Capital raised their price objective on News from $38.00 to $39.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $38.00.

News Price Performance

NASDAQ NWSA opened at $26.34 on Friday. 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 Co. has a 52-week low of $19.25 and a 52-week high of $28.62. The business has a 50 day simple moving average of $27.20 and a 200 day simple moving average of $26.48. The stock has a market cap of $15.01 billion, a price-to-earnings ratio of 73.17 and a beta of 1.34.

News (NASDAQ:NWSA) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The business had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.49 billion. News had a return on equity of 4.51% and a net margin of 2.64%. News’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the company earned $0.14 earnings per share. Analysts anticipate that News Co. will post 0.87 earnings per share for the current fiscal year.

News Announces Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Wednesday, September 11th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a yield of 0.7%. News’s dividend payout ratio (DPR) is presently 55.56%.

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.