MBB Public Markets I LLC Makes New $803,000 Investment in News Co. (NASDAQ:NWSA)

MBB Public Markets I LLC bought a new position in News Co. (NASDAQ:NWSA) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 29,110 shares of the company’s stock, valued at approximately $803,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. US Bancorp DE lifted its stake in shares of News by 2.4% in the first quarter. US Bancorp DE now owns 18,406 shares of the company’s stock worth $482,000 after buying an additional 424 shares during the last quarter. Empirical Finance LLC boosted its stake in shares of News by 3.5% in the 1st quarter. Empirical Finance LLC now owns 13,898 shares of the company’s stock valued at $364,000 after purchasing an additional 465 shares during the last quarter. Fifth Third Bancorp boosted its stake in News by 3.7% during the 2nd quarter. Fifth Third Bancorp now owns 13,802 shares of the company’s stock worth $381,000 after acquiring an additional 496 shares during the last quarter. Acadian Asset Management LLC raised its holdings in News by 95.1% during the 2nd quarter. Acadian Asset Management LLC now owns 1,038 shares of the company’s stock worth $28,000 after buying an additional 506 shares during the period. Finally, CWM LLC raised its holdings in News by 7.8% during the 2nd quarter. CWM LLC now owns 7,339 shares of the company’s stock worth $202,000 after buying an additional 532 shares during the period. 66.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

News Price Performance

News stock opened at $26.41 on Wednesday. The stock has a market capitalization of $15.05 billion, a price-to-earnings ratio of 73.36 and a beta of 1.34. News Co. has a 52-week low of $19.25 and a 52-week high of $28.62. The stock’s 50 day moving average price is $27.04 and its two-hundred day moving average price is $26.49. 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 (NASDAQ:NWSA) last posted its quarterly earnings results 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. News had a return on equity of 4.51% and a net margin of 2.64%. The firm had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the prior year, the business earned $0.14 EPS. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, equities analysts predict that News Co. will post 0.87 earnings per share for the current year.

News Dividend Announcement

The business also recently declared a Semi-Annual dividend, which will be paid on Wednesday, October 9th. Investors 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 payout ratio is currently 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.