Northern Capital Management LLC boosted its position in shares of News Corp. (NASDAQ:NWSA) by 2.5% during the second quarter, Holdings Channel reports. The fund owned 184,765 shares of the company’s stock after buying an additional 4,525 shares during the period. Northern Capital Management LLC’s holdings in News Corp. were worth $2,097,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. State Street Corp raised its stake in shares of News Corp. by 0.5% in the first quarter. State Street Corp now owns 16,030,382 shares of the company’s stock worth $204,712,000 after buying an additional 82,125 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of News Corp. by 2.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 9,955,922 shares of the company’s stock worth $127,137,000 after buying an additional 228,067 shares during the last quarter. Dodge & Cox raised its stake in shares of News Corp. by 4.4% in the first quarter. Dodge & Cox now owns 8,318,002 shares of the company’s stock worth $106,221,000 after buying an additional 347,225 shares during the last quarter. BlueMountain Capital Management LLC raised its stake in shares of News Corp. by 15.9% in the first quarter. BlueMountain Capital Management LLC now owns 6,963,170 shares of the company’s stock worth $88,920,000 after buying an additional 957,265 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of News Corp. during the fourth quarter worth approximately $51,139,000. 95.59% of the stock is currently owned by hedge funds and other institutional investors.
Shares of News Corp. (NASDAQ:NWSA) traded up 0.65% during midday trading on Friday, reaching $13.98. The company’s stock had a trading volume of 3,181,043 shares. News Corp. has a 12-month low of $10.21 and a 12-month high of $15.68. The company’s 50-day moving average price is $13.81 and its 200 day moving average price is $12.59. The company has a market capitalization of $8.11 billion, a P/E ratio of 45.84 and a beta of 2.01.
News Corp. (NASDAQ:NWSA) last announced its earnings results on Monday, August 8th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by $0.03. The business earned $2.23 billion during the quarter, compared to the consensus estimate of $2.06 billion. News Corp. had a return on equity of 1.96% and a net margin of 2.16%. News Corp.’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.07 earnings per share. On average, equities research analysts forecast that News Corp. will post $0.46 earnings per share for the current year.
The firm also recently announced a dividend, which will be paid on Wednesday, October 19th. Shareholders of record on Wednesday, September 14th will be paid a $0.10 dividend. The ex-dividend date is Monday, September 12th. News Corp.’s dividend payout ratio is currently 66.67%.
NWSA has been the topic of a number of recent analyst reports. Zacks Investment Research raised News Corp. from a “sell” rating to a “hold” rating in a research note on Monday, July 11th. TheStreet raised News Corp. from a “hold” rating to a “buy” rating in a research note on Monday, August 15th. Finally, Morgan Stanley reaffirmed a “hold” rating on shares of News Corp. in a research note on Thursday, August 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $17.13.
About News Corp.
News Corporation is a diversified media and information services company. The Company operates in five segments: News and Information Services, Cable Network Programming, Digital Real Estate Services, Book Publishing, and Other. The Company’s business consists of range of media, including news and information services, sports programming in Australia, digital real estate services, book publishing, and pay-television (TV) distribution in Australia, that are distributed under the brands, including The Wall Street Journal, Dow Jones, Herald Sun, The Sun, The Times, HarperCollins Publishers, FOX SPORTS Australia and realestate.com.au.
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