News Co. (NASDAQ:NWSA) Stake Raised by Acadian Asset Management LLC

Acadian Asset Management LLC grew its holdings in shares of News Co. (NASDAQ:NWSA) by 95.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,038 shares of the company’s stock after purchasing an additional 506 shares during the period. Acadian Asset Management LLC’s holdings in News were worth $28,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. grew its holdings in shares of News by 5.8% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 104,419 shares of the company’s stock worth $2,563,000 after acquiring an additional 5,697 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its holdings in News by 13.4% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 230,799 shares of the company’s stock worth $6,027,000 after buying an additional 27,324 shares during the period. Bessemer Group Inc. lifted its stake in News by 3,107.1% during the first quarter. Bessemer Group Inc. now owns 59,363 shares of the company’s stock valued at $1,555,000 after buying an additional 57,512 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of News by 164.8% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 44,443 shares of the company’s stock worth $1,164,000 after buying an additional 27,662 shares during the period. Finally, Janney Montgomery Scott LLC increased its position in shares of News by 73.7% in the first quarter. Janney Montgomery Scott LLC now owns 88,809 shares of the company’s stock worth $2,325,000 after acquiring an additional 37,692 shares in the last quarter. Institutional investors and hedge funds own 66.97% of the company’s stock.

Analyst Ratings Changes

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

News Stock Performance

Shares of NWSA opened at $26.34 on Friday. The company has a market capitalization of $15.01 billion, a PE ratio of 73.17 and a beta of 1.34. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.33 and a current ratio of 1.43. The company’s 50 day moving average price is $27.20 and its 200 day moving average price is $26.48. News Co. has a 52 week low of $19.25 and a 52 week high of $28.62.

News (NASDAQ:NWSA) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.17 EPS for the quarter, beating 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 business had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the previous year, the company posted $0.14 EPS. News’s revenue was up 5.9% on a year-over-year basis. Research analysts expect that News Co. will post 0.87 EPS for the current fiscal year.

News Announces Dividend

The company also recently declared a Semi-Annual dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Wednesday, September 11th will be paid 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%.

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.