News Corporation $NWS Shares Sold by Perpetual Ltd

Perpetual Ltd reduced its position in News Corporation (NASDAQ:NWS) by 76.0% during the third quarter, Holdings Channel.com reports. The firm owned 602,948 shares of the company’s stock after selling 1,909,613 shares during the quarter. Perpetual Ltd’s holdings in News were worth $19,126,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Allworth Financial LP increased its stake in News by 79.4% during the 2nd quarter. Allworth Financial LP now owns 1,717 shares of the company’s stock valued at $48,000 after purchasing an additional 760 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in News by 21.1% during the first quarter. EverSource Wealth Advisors LLC now owns 2,278 shares of the company’s stock worth $65,000 after buying an additional 397 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of News in the second quarter valued at $65,000. Bessemer Group Inc. lifted its stake in shares of News by 37.2% in the first quarter. Bessemer Group Inc. now owns 3,801 shares of the company’s stock valued at $108,000 after buying an additional 1,030 shares in the last quarter. Finally, Nykredit A S acquired a new position in shares of News during the second quarter valued at about $129,000. Institutional investors and hedge funds own 14.63% of the company’s stock.

News Stock Up 1.2%

Shares of NASDAQ:NWS opened at $32.38 on Tuesday. The stock has a market cap of $17.52 billion, a price-to-earnings ratio of 31.44 and a beta of 0.96. The company has a quick ratio of 1.51, a current ratio of 1.62 and a debt-to-equity ratio of 0.22. News Corporation has a 12-month low of $25.49 and a 12-month high of $35.76. The business’s 50 day moving average is $33.08 and its 200 day moving average is $31.05.

News (NASDAQ:NWS) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.11. The business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.25 billion. News had a return on equity of 7.09% and a net margin of 6.35%. On average, sell-side analysts forecast that News Corporation will post 1.31 earnings per share for the current fiscal year.

News Announces Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, October 7th. Shareholders of record on Wednesday, September 9th were issued a dividend of $0.10 per share. This represents a yield of 60.0%. The ex-dividend date of this dividend was Wednesday, September 9th. News’s payout ratio is currently 19.42%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NWS shares. Weiss Ratings restated a “buy (b-)” rating on shares of News in a report on Friday. Zacks Research cut shares of News from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Trending Headlines about News

Here are the key news stories impacting News this week:

• Positive Sentiment: News Corp confirmed continued progress and provided updated details on its US$1 billion share buyback program. Repurchases can support the stock by reducing the number of shares outstanding, potentially increasing per-share earnings and signaling management’s view that the shares are attractively valued. News Corp Details Progress of US$1 Billion Share Repurchase Program
• Positive Sentiment: Additional ASX notifications indicate that the repurchase program remains active, reinforcing the prospect of ongoing shareholder returns and potential support for NWS shares. News Corp Updates US$1 Billion Share Repurchase Program Details

About News

News Corp (NASDAQ: NWS) is a global diversified media and information services company headquartered in New York. Its businesses produce and distribute news, financial information, books, digital content and real estate listings across multiple platforms and geographies.

The company’s principal operations include Dow Jones, which provides business news, financial data and professional information services through publications such as The Wall Street Journal and Barron’s; News Corp Australia and News UK, which operate newspapers, digital news properties and other media brands; and HarperCollins Publishers, a global publisher of books in a broad range of categories.