Maven Securities LTD Sells 464 Shares of News Co. (NASDAQ:NWSA)

Maven Securities LTD decreased its holdings in shares of News Co. (NASDAQ:NWSA) by 0.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 247,836 shares of the company’s stock after selling 464 shares during the quarter. News accounts for about 0.1% of Maven Securities LTD’s investment portfolio, making the stock its 22nd biggest position. Maven Securities LTD’s holdings in News were worth $6,833,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kimelman & Baird LLC purchased a new position in News in the 2nd quarter worth about $606,000. NewEdge Advisors LLC increased its holdings in News by 17.4% during the 2nd quarter. NewEdge Advisors LLC now owns 74,698 shares of the company’s stock worth $2,059,000 after purchasing an additional 11,078 shares during the period. Creative Planning lifted its holdings in shares of News by 51.6% in the 2nd quarter. Creative Planning now owns 46,090 shares of the company’s stock worth $1,271,000 after buying an additional 15,692 shares during the period. Logan Stone Capital LLC bought a new position in shares of News during the 2nd quarter worth $416,000. Finally, Mackenzie Financial Corp increased its stake in shares of News by 41.8% during the second quarter. Mackenzie Financial Corp now owns 559,087 shares of the company’s stock valued at $15,414,000 after buying an additional 164,905 shares during the period. 66.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on NWSA shares. JPMorgan Chase & Co. boosted their price target on shares of News from $34.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Loop Capital increased their target price on News from $38.00 to $39.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $38.00.

News Stock Down 0.8 %

Shares of News stock opened at $26.41 on Wednesday. News Co. has a 52-week low of $19.25 and a 52-week high of $28.62. The firm’s 50 day moving average price is $27.04 and its 200-day moving average price is $26.49. The company has a quick ratio of 1.33, a current ratio of 1.43 and a debt-to-equity ratio of 0.32. The company has a market cap of $15.05 billion, a P/E ratio of 73.36 and a beta of 1.34.

News (NASDAQ:NWSA) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.17 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the prior year, the firm posted $0.14 earnings per share. The business’s quarterly revenue was up 5.9% on a year-over-year basis. On average, sell-side analysts predict that News Co. will post 0.87 EPS for the current fiscal year.

News Dividend Announcement

The firm also recently declared a Semi-Annual dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Wednesday, September 11th will be paid a $0.10 dividend. This represents a 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.