Cetera Investment Advisers Has $1.50 Million Stake in News Co. (NASDAQ:NWSA)

Cetera Investment Advisers lowered its stake in News Co. (NASDAQ:NWSA) by 11.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 54,559 shares of the company’s stock after selling 7,356 shares during the quarter. Cetera Investment Advisers’ holdings in News were worth $1,504,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of NWSA. International Assets Investment Management LLC bought a new stake in shares of News during the second quarter worth approximately $26,000. Acadian Asset Management LLC increased its holdings in shares of News by 95.1% during the second quarter. Acadian Asset Management LLC now owns 1,038 shares of the company’s stock worth $28,000 after buying an additional 506 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in shares of News in the first quarter worth $34,000. Covestor Ltd grew its stake in shares of News by 125.8% in the first quarter. Covestor Ltd now owns 1,727 shares of the company’s stock worth $45,000 after purchasing an additional 962 shares during the last quarter. Finally, Innealta Capital LLC bought a new stake in shares of News in the second quarter worth $46,000. Institutional investors and hedge funds own 66.97% of the company’s stock.

News Trading Up 1.7 %

Shares of NWSA stock opened at $26.47 on Wednesday. The company has a 50 day moving average of $26.82 and a 200-day moving average of $26.50. 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 $20.11 and a 12-month high of $28.62. The firm has a market cap of $15.08 billion, a P/E ratio of 73.53 and a beta of 1.34.

News (NASDAQ:NWSA) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.16 by $0.01. News had a net margin of 2.64% and a return on equity of 4.51%. The company had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same period last year, the firm earned $0.14 EPS. News’s revenue for the quarter was up 5.9% on a year-over-year basis. Sell-side analysts anticipate that News Co. will post 0.85 earnings per share for the current year.

News Announces Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Wednesday, October 9th. Shareholders of record on Wednesday, September 11th were issued a $0.10 dividend. This represents a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, September 11th. News’s payout ratio is 55.56%.

Analyst Upgrades and Downgrades

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

News 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 through six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.