GenTrust LLC Purchases Shares of 50,269 News Corporation $NWSA

GenTrust LLC acquired a new position in News Corporation (NASDAQ:NWSA) during the third quarter, Holdings Channel reports. The firm acquired 50,269 shares of the company’s stock, valued at approximately $1,549,000.

Several other large investors have also bought and sold shares of the company. Cullen Frost Bankers Inc. bought a new stake in News in the second quarter worth about $30,000. CYBER HORNET ETFs LLC bought a new stake in shares of News in the 2nd quarter worth approximately $30,000. Root Financial Partners LLC acquired a new stake in News during the third quarter valued at approximately $35,000. Smartleaf Asset Management LLC boosted its holdings in News by 87.9% during the third quarter. Smartleaf Asset Management LLC now owns 2,396 shares of the company’s stock worth $74,000 after buying an additional 1,121 shares in the last quarter. Finally, Allworth Financial LP grew its position in News by 160.1% in the second quarter. Allworth Financial LP now owns 3,361 shares of the company’s stock worth $100,000 after buying an additional 2,069 shares during the last quarter. Institutional investors own 66.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Weiss Ratings upgraded News from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday. JPMorgan Chase & Co. reduced their target price on News from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Tuesday, November 25th. Citigroup dropped their price target on News from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Monday, February 9th. Guggenheim cut their price objective on News from $45.00 to $43.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Finally, Morgan Stanley set a $32.40 target price on shares of News in a report on Friday, February 6th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.02.

News Stock Up 1.4%

Shares of News stock opened at $22.72 on Friday. News Corporation has a 1 year low of $22.20 and a 1 year high of $31.61. The company has a market cap of $12.76 billion, a P/E ratio of 11.19 and a beta of 0.99. The company has a current ratio of 1.81, a quick ratio of 1.69 and a debt-to-equity ratio of 0.20. The stock has a 50-day moving average price of $25.83 and a 200 day moving average price of $27.18.

News (NASDAQ:NWSA) last released its earnings results on Thursday, February 5th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.07. The company had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.30 billion. News had a return on equity of 5.94% and a net margin of 13.35%.The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.33 EPS. As a group, analysts expect that News Corporation will post 0.94 EPS for the current fiscal year.

News Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 11th will be paid a $0.10 dividend. This represents a yield of 83.0%. The ex-dividend date is Wednesday, March 11th. News’s dividend payout ratio is currently 9.85%.

News Profile

News Corporation (NASDAQ: NWSA) is a global diversified media and information services company headquartered in New York City. It operates through two principal segments: News and Information Services, and Digital Real Estate Services. The company’s news and information division oversees a portfolio of leading newspapers, magazines and digital platforms, offering content across print and online channels. Its properties include Dow Jones, publisher of The Wall Street Journal and Barron’s, News UK titles such as The Times and The Sun, as well as News Corp Australia mastheads.

In addition to its journalism assets, News Corp is a significant player in book publishing through HarperCollins, one of the world’s largest consumer publishers.