Quinn Opportunity Partners LLC Invests $1.33 Million in News Co. (NASDAQ:NWS)

Quinn Opportunity Partners LLC purchased a new position in shares of News Co. (NASDAQ:NWS) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 43,814 shares of the company’s stock, valued at approximately $1,333,000.

A number of other hedge funds have also bought and sold shares of NWS. Treasurer of the State of North Carolina lifted its stake in News by 200.3% during the fourth quarter. Treasurer of the State of North Carolina now owns 149,136 shares of the company’s stock worth $4,538,000 after purchasing an additional 99,470 shares during the last quarter. Bank of Nova Scotia lifted its position in shares of News by 23.3% in the 4th quarter. Bank of Nova Scotia now owns 11,004 shares of the company’s stock worth $335,000 after buying an additional 2,080 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of News by 3.8% in the 4th quarter. Bank of Montreal Can now owns 93,949 shares of the company’s stock valued at $2,859,000 after buying an additional 3,414 shares during the period. Envestnet Asset Management Inc. raised its stake in News by 19.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 179,499 shares of the company’s stock worth $5,462,000 after acquiring an additional 28,681 shares during the period. Finally, ExodusPoint Capital Management LP bought a new position in News in the fourth quarter worth about $43,000. 14.63% of the stock is currently owned by institutional investors and hedge funds.

News Stock Performance

Shares of NWS opened at $30.24 on Friday. The firm has a fifty day moving average of $31.51 and a 200-day moving average of $30.70. The company has a market cap of $17.16 billion, a price-to-earnings ratio of 41.43 and a beta of 1.26. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.65 and a current ratio of 1.73. News Co. has a 1 year low of $23.99 and a 1 year high of $35.25.

News (NASDAQ:NWS) last posted its earnings results on Wednesday, February 5th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). News had a net margin of 4.22% and a return on equity of 5.31%. As a group, equities analysts anticipate that News Co. will post 1.03 earnings per share for the current year.

News Announces Dividend

The business also recently announced a semi-annual dividend, which was paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 12th were paid a dividend of $0.10 per share. The ex-dividend date was Wednesday, March 12th. This represents a yield of 0.6%. News’s payout ratio is 27.40%.

Wall Street Analyst Weigh In

Separately, Seaport Res Ptn upgraded News to a “strong-buy” rating in a research report on Friday, January 31st.

News Profile

News Corporation, a media and information services company, creates and distributes authoritative and engaging content, and other products and services for consumers and businesses worldwide. It operates through six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.