Victory Capital Management Inc. Has $358,000 Position in News Co. (NASDAQ:NWS)

Victory Capital Management Inc. increased its holdings in News Co. (NASDAQ:NWS) by 10.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,593 shares of the company’s stock after purchasing an additional 1,149 shares during the period. Victory Capital Management Inc.’s holdings in News were worth $358,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Covestor Ltd raised its stake in shares of News by 69.9% in the first quarter. Covestor Ltd now owns 1,201 shares of the company’s stock valued at $33,000 after acquiring an additional 494 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in News in the 1st quarter worth approximately $65,000. iA Global Asset Management Inc. acquired a new position in News during the 1st quarter worth $76,000. ORG Partners LLC acquired a new stake in shares of News in the 2nd quarter valued at $81,000. Finally, GAMMA Investing LLC lifted its stake in shares of News by 18.8% during the first quarter. GAMMA Investing LLC now owns 3,392 shares of the company’s stock valued at $92,000 after acquiring an additional 537 shares during the period. Institutional investors own 14.63% of the company’s stock.

News Price Performance

NWS opened at $27.83 on Tuesday. The company has a fifty day moving average price of $28.21 and a two-hundred day moving average price of $27.37. The firm has a market capitalization of $15.86 billion, a PE ratio of 77.31 and a beta of 1.37. News Co. has a 52 week low of $20.01 and a 52 week high of $29.59. 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:NWS) last released its earnings results on Thursday, August 8th. The company reported $0.17 earnings per share for the quarter. The firm had revenue of $2.58 billion for the quarter. News had a return on equity of 4.51% and a net margin of 2.64%.

News Announces Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, October 9th. Investors of record on Wednesday, September 11th will be issued 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 dividend payout ratio is currently 55.56%.

Wall Street Analysts Forecast Growth

Separately, Loop Capital raised News to a “strong-buy” rating in a report on Tuesday, September 10th.

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.