Mercer Global Advisors Inc. ADV Sells 18,372 Shares of News Co. (NASDAQ:NWSA)

Mercer Global Advisors Inc. ADV decreased its stake in shares of News Co. (NASDAQ:NWSA) by 17.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 86,638 shares of the company’s stock after selling 18,372 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in News were worth $2,430,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. US Bancorp DE grew its position in shares of News by 2.4% in the first quarter. US Bancorp DE now owns 18,406 shares of the company’s stock valued at $482,000 after purchasing an additional 424 shares during the last quarter. Empirical Finance LLC increased its position in News by 3.5% during the 1st quarter. Empirical Finance LLC now owns 13,898 shares of the company’s stock worth $364,000 after buying an additional 465 shares during the period. Fifth Third Bancorp lifted its holdings in shares of News by 3.7% during the second quarter. Fifth Third Bancorp now owns 13,802 shares of the company’s stock worth $381,000 after buying an additional 496 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of News by 95.1% in the second quarter. Acadian Asset Management LLC now owns 1,038 shares of the company’s stock valued at $28,000 after acquiring an additional 506 shares during the period. Finally, CWM LLC grew its stake in shares of News by 7.8% in the second quarter. CWM LLC now owns 7,339 shares of the company’s stock valued at $202,000 after acquiring an additional 532 shares in the last quarter. Institutional investors and hedge funds own 66.97% of the company’s stock.

News Price Performance

NWSA stock opened at $26.49 on Tuesday. The company’s 50-day moving average price is $27.18 and its two-hundred day moving average price is $26.49. The firm has a market cap of $15.10 billion, a P/E ratio of 73.58 and a beta of 1.34. The company has a quick ratio of 1.33, a current ratio of 1.43 and a debt-to-equity ratio of 0.32. News Co. has a 12 month low of $19.25 and a 12 month high of $28.62.

News (NASDAQ:NWSA) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.17 EPS for the quarter, beating the consensus estimate 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 net margin of 2.64% and a return on equity of 4.51%. The company’s revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.14 earnings per share. On average, analysts anticipate that News Co. will post 0.87 earnings per share for the current fiscal year.

News Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.