Mirae Asset Global Investments Co. Ltd. Has $1.06 Million Holdings in News Co. (NASDAQ:NWSA)

Mirae Asset Global Investments Co. Ltd. lifted its stake in News Co. (NASDAQ:NWSA) by 35.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,289 shares of the company’s stock after buying an additional 9,981 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in News were worth $1,064,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brooklyn Investment Group bought a new stake in News during the third quarter worth about $39,000. R Squared Ltd bought a new stake in News during the 4th quarter worth $49,000. ORG Wealth Partners LLC acquired a new position in shares of News in the third quarter valued at approximately $79,000. Wilmington Savings Fund Society FSB acquired a new stake in News in the third quarter valued at $85,000. Finally, Exchange Traded Concepts LLC lifted its holdings in News by 1,419.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 5,045 shares of the company’s stock worth $134,000 after buying an additional 4,713 shares during the period. 66.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NWSA has been the subject of a number of analyst reports. Citigroup started coverage on News in a research report on Friday, January 10th. They set a “buy” rating and a $36.00 price objective for the company. UBS Group upgraded shares of News from a “neutral” rating to a “buy” rating in a research report on Tuesday, February 4th. StockNews.com raised shares of News from a “hold” rating to a “buy” rating in a research note on Monday. Loop Capital decreased their price target on News from $44.00 to $41.00 and set a “buy” rating for the company in a report on Monday, December 23rd. Finally, Guggenheim boosted their price objective on News from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, News currently has a consensus rating of “Buy” and a consensus price target of $39.25.

News Price Performance

Shares of NASDAQ NWSA opened at $29.45 on Wednesday. The company has a current ratio of 1.73, a quick ratio of 1.26 and a debt-to-equity ratio of 0.22. The firm’s 50-day moving average price is $28.16 and its 200-day moving average price is $27.61. The firm has a market capitalization of $16.75 billion, a P/E ratio of 40.34 and a beta of 1.35. News Co. has a 1-year low of $22.65 and a 1-year high of $30.03.

News (NASDAQ:NWSA) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.04. News had a return on equity of 5.31% and a net margin of 4.22%. Equities research analysts anticipate that News Co. will post 0.94 earnings per share for the current fiscal year.

News Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.40 annualized dividend and a yield of 1.36%. News’s payout ratio is 27.40%.

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.