News Corp. (NASDAQ:NWS) CFO Bedi Ajay Singh sold 29,857 shares of News Corp. stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $14.39, for a total transaction of $429,642.23. Following the completion of the sale, the chief financial officer now owns 33,667 shares of the company’s stock, valued at approximately $484,468.13. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Shares of News Corp. (NASDAQ:NWS) opened at 14.25 on Tuesday. News Corp. has a 52-week low of $10.74 and a 52-week high of $15.74. The stock has a market capitalization of $8.27 billion, a PE ratio of 46.72 and a beta of 1.89. The stock’s 50 day moving average is $14.32 and its 200 day moving average is $13.12.
The company also recently disclosed a dividend, which will be paid on Wednesday, October 19th. Investors of record on Wednesday, September 14th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, September 12th. News Corp.’s payout ratio is 66.67%.
Several institutional investors have recently made changes to their positions in the stock. Advantus Capital Management Inc raised its position in shares of News Corp. by 1.5% in the second quarter. Advantus Capital Management Inc now owns 10,343 shares of the company’s stock valued at $121,000 after buying an additional 148 shares during the period. World Asset Management Inc raised its position in shares of News Corp. by 0.3% in the second quarter. World Asset Management Inc now owns 10,860 shares of the company’s stock valued at $127,000 after buying an additional 31 shares during the period. CIBC Asset Management Inc raised its position in shares of News Corp. by 6.4% in the second quarter. CIBC Asset Management Inc now owns 11,310 shares of the company’s stock valued at $132,000 after buying an additional 685 shares during the period. TFS Capital LLC bought a new position in shares of News Corp. during the second quarter valued at approximately $144,000. Finally, Bank of Montreal Can bought a new position in shares of News Corp. during the second quarter valued at approximately $144,000. 10.56% of the stock is currently owned by institutional investors and hedge funds.
Separately, TheStreet raised shares of News Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, August 9th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. News Corp. presently has a consensus rating of “Buy” and a consensus target price of $18.00.
News Corp. Company Profile
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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