DRW Securities LLC Makes New Investment in News Co. (NASDAQ:NWSA)

DRW Securities LLC acquired a new position in shares of News Co. (NASDAQ:NWSA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 26,436 shares of the company’s stock, valued at approximately $729,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Contour Asset Management LLC grew its stake in shares of 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 buying an additional 1,702,483 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of News by 2.2% in the second 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 period. Balyasny Asset Management L.P. raised its stake in News by 249.7% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,206,990 shares of the company’s stock valued at $54,182,000 after buying an additional 1,575,803 shares during the last quarter. Junto Capital Management LP bought a new position in News in the fourth quarter valued at about $43,928,000. Finally, Fort Baker Capital Management LP grew its position in News by 48.6% during the fourth quarter. Fort Baker Capital Management LP now owns 1,695,158 shares of the company’s stock valued at $41,616,000 after buying an additional 554,365 shares during the period. Institutional investors own 66.97% of the company’s stock.

Wall Street Analyst Weigh In

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

News Stock Down 0.8 %

Shares of NWSA stock opened at $26.34 on Monday. The company has a market capitalization of $15.01 billion, a price-to-earnings ratio of 73.17 and a beta of 1.34. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.43 and a quick ratio of 1.33. The company’s fifty day moving average price is $27.20 and its 200-day moving average price is $26.48. News Co. has a one year low of $19.25 and a one year high of $28.62.

News (NASDAQ:NWSA) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The company had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.49 billion. News had a net margin of 2.64% and a return on equity of 4.51%. News’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.14 EPS. Sell-side analysts expect that News Co. will post 0.87 EPS for the current fiscal year.

News Announces Dividend

The business also recently disclosed 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 is Wednesday, September 11th. This represents a yield of 0.7%. News’s dividend payout ratio (DPR) is presently 55.56%.

News Company Profile

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.