XTX Topco Ltd Acquires Shares of 52,762 News Co. (NASDAQ:NWSA)

XTX Topco Ltd bought a new position in shares of News Co. (NASDAQ:NWSA) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 52,762 shares of the company’s stock, valued at approximately $1,455,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NWSA. Norges Bank purchased a new position in News during the 4th quarter worth $139,956,000. Contour Asset Management LLC raised its holdings in News by 97.8% during the fourth quarter. Contour Asset Management LLC now owns 3,442,650 shares of the company’s stock worth $84,517,000 after purchasing an additional 1,702,483 shares in the last quarter. Bank of New York Mellon Corp lifted its position in News by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 2,855,605 shares of the company’s stock valued at $78,729,000 after purchasing an additional 61,417 shares during the period. Balyasny Asset Management L.P. boosted its holdings 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 valued at $54,182,000 after purchasing an additional 1,575,803 shares in the last quarter. Finally, Junto Capital Management LP acquired a new position in News during the 4th quarter worth approximately $43,928,000. Hedge funds and other institutional investors own 66.97% of the company’s stock.

News Price Performance

Shares of NASDAQ:NWSA opened at $26.34 on Friday. News Co. has a 12 month low of $19.25 and a 12 month high of $28.62. The firm has a market capitalization of $15.01 billion, a price-to-earnings ratio of 73.17 and a beta of 1.34. The business’s 50 day simple moving average is $27.20 and its 200-day simple moving average is $26.48. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.43 and a quick ratio of 1.33.

News (NASDAQ:NWSA) last posted its earnings results on Thursday, August 8th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.01. The company had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.49 billion. News had a return on equity of 4.51% and a net margin of 2.64%. News’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.14 earnings per share. As a group, equities analysts forecast that News Co. will post 0.87 earnings per share for the current fiscal year.

News Dividend Announcement

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 dividend of $0.10 per share. This represents a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 11th. News’s payout ratio is currently 55.56%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on NWSA shares. JPMorgan Chase & Co. lifted their price target on News from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Loop Capital boosted their target price 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 investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, News presently has an average rating of “Buy” and a consensus 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 in six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.