Counterpoint Mutual Funds LLC Acquires 23,297 Shares of News Corporation $NWSA

Counterpoint Mutual Funds LLC raised its holdings in News Corporation (NASDAQ:NWSA) by 207.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 34,505 shares of the company’s stock after purchasing an additional 23,297 shares during the quarter. Counterpoint Mutual Funds LLC’s holdings in News were worth $989,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Empirical Finance LLC boosted its stake in shares of News by 3.3% during the second quarter. Empirical Finance LLC now owns 13,861 shares of the company’s stock worth $344,000 after buying an additional 442 shares during the period. Compound Planning Inc. grew its holdings in shares of News by 5.0% during the first quarter. Compound Planning Inc. now owns 11,184 shares of the company’s stock worth $279,000 after buying an additional 537 shares during the last quarter. Tidal Investments LLC increased its position in News by 1.1% in the 2nd quarter. Tidal Investments LLC now owns 72,008 shares of the company’s stock valued at $1,788,000 after acquiring an additional 757 shares during the period. Patton Fund Management Inc. increased its position in News by 9.6% in the 1st quarter. Patton Fund Management Inc. now owns 9,596 shares of the company’s stock valued at $239,000 after acquiring an additional 843 shares during the period. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in News during the 3rd quarter valued at approximately $25,000. 66.97% of the stock is owned by hedge funds and other institutional investors.

News Stock Down 0.6%

NWSA stock opened at $30.03 on Friday. News Corporation has a one year low of $22.20 and a one year high of $31.66. The stock has a market capitalization of $16.25 billion, a PE ratio of 29.16 and a beta of 0.97. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.51 and a current ratio of 1.62. The company has a fifty day moving average of $29.60 and a 200-day moving average of $27.51.

News (NASDAQ:NWSA) last issued its earnings results on Wednesday, August 5th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.14. News had a net margin of 6.35% and a return on equity of 7.09%. The business had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the previous year, the firm earned $0.19 earnings per share. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, analysts expect that News Corporation will post 1.31 EPS for the current year.

News Dividend Announcement

The company also recently disclosed a dividend, which was paid on Wednesday, October 7th. Investors of record on Wednesday, September 9th were given a $0.10 dividend. The ex-dividend date was Wednesday, September 9th. This represents a yield of 68.0%. News’s dividend payout ratio (DPR) is presently 19.42%.

Wall Street Analysts Forecast Growth

NWSA has been the subject of a number of recent research reports. Zacks Research cut News from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. Morgan Stanley reiterated an “overweight” rating and issued a $35.00 target price on shares of News in a research note on Thursday, August 6th. Wall Street Zen raised News from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 3rd. JPMorgan Chase & Co. upped their price target on News from $36.00 to $38.00 and gave the stock an “overweight” rating in a research note on Friday, August 21st. Finally, Weiss Ratings upgraded News from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, October 12th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.50.

News Company Profile

News Corp (NASDAQ: NWSA) is a global media and information-services company that creates and distributes news, business information, books, digital content and real estate services. Its operations serve consumers, professionals, institutions and businesses across the United States, the United Kingdom, Australia and other international markets.

The company’s Dow Jones division provides business and financial news, data and information through publications and platforms including The Wall Street Journal, Barron’s, MarketWatch, Factiva and Dow Jones Newswires.