Choreo LLC Invests $240,000 in News Co. (NASDAQ:NWSA)

Choreo LLC bought a new position in News Co. (NASDAQ:NWSA) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 8,793 shares of the company’s stock, valued at approximately $240,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in News in the 4th quarter worth $139,956,000. Contour Asset Management LLC raised its stake in 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 acquiring an additional 1,702,483 shares during the last quarter. Bank of New York Mellon Corp raised its stake in News by 2.2% in the 2nd 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 last quarter. Balyasny Asset Management L.P. raised its stake in News by 249.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,206,990 shares of the company’s stock worth $54,182,000 after acquiring an additional 1,575,803 shares during the last quarter. Finally, Junto Capital Management LP purchased a new position in News in the 4th quarter worth $43,928,000. Hedge funds and other institutional investors own 66.97% of the company’s stock.

News Stock Performance

NASDAQ NWSA opened at $26.45 on Thursday. The stock has a 50-day simple moving average of $27.26 and a two-hundred day simple moving average of $26.47. The firm has a market capitalization of $15.07 billion, a P/E ratio of 73.47 and a beta of 1.34. News Co. has a fifty-two week low of $19.25 and a fifty-two week high of $28.62. 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 earnings results on Thursday, August 8th. The company reported $0.17 EPS for the quarter, beating 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 last year, the firm earned $0.14 EPS. The company’s quarterly revenue was up 5.9% on a year-over-year basis. On average, equities analysts forecast that News Co. will post 0.87 earnings per share for the current year.

News Announces Dividend

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

Analyst Upgrades and Downgrades

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