Wealth Enhancement Advisory Services LLC lifted its holdings in News Corporation (NASDAQ:NWSA) by 61.1% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 198,445 shares of the company’s stock after acquiring an additional 75,230 shares during the quarter. Wealth Enhancement Advisory Services LLC owned 0.05% of News Corporation worth $2,637,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Ameritas Investment Partners Inc. bought a new stake in shares of News Corporation in the 1st quarter worth approximately $118,000. Creative Planning increased its stake in shares of News Corporation by 109.9% in the second quarter. Creative Planning now owns 11,068 shares of the company’s stock worth $152,000 after buying an additional 5,795 shares during the period. Balyasny Asset Management LLC purchased a new position in shares of News Corporation in the second quarter worth $155,000. Parametrica Management Ltd purchased a new position in shares of News Corporation in the second quarter worth $156,000. Finally, Cubist Systematic Strategies LLC increased its stake in shares of News Corporation by 322.5% in the second quarter. Cubist Systematic Strategies LLC now owns 11,829 shares of the company’s stock worth $162,000 after buying an additional 9,029 shares during the period. Hedge funds and other institutional investors own 60.60% of the company’s stock.
Several research analysts recently commented on the stock. Zacks Investment Research raised shares of News Corporation from a “sell” rating to a “hold” rating and set a $15.00 target price on the stock in a research note on Tuesday, October 10th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $17.00 target price on shares of News Corporation in a research note on Sunday, July 30th. Finally, Rosenblatt Securities assumed coverage on shares of News Corporation in a research note on Friday, July 14th. They issued a “buy” rating and a $17.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $15.17.
Shares of News Corporation (NASDAQ:NWSA) traded up 0.44% on Friday, hitting $13.68. 766,411 shares of the company traded hands. The firm’s 50 day moving average price is $13.32 and its 200-day moving average price is $13.32. The stock’s market capitalization is $7.96 billion. News Corporation has a 1-year low of $10.99 and a 1-year high of $14.49.
News Corporation (NASDAQ:NWSA) last issued its quarterly earnings results on Thursday, August 10th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. News Corporation had a positive return on equity of 1.83% and a negative net margin of 9.07%. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period last year, the company earned $0.10 earnings per share. News Corporation’s revenue was down 6.6% on a year-over-year basis. On average, equities research analysts expect that News Corporation will post $0.47 earnings per share for the current year.
The firm also recently announced a semiannual dividend, which was paid on Wednesday, October 18th. Stockholders of record on Wednesday, September 13th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, September 12th. This represents a dividend yield of 1.49%. News Corporation’s dividend payout ratio (DPR) is -15.63%.
About News Corporation
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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