Transmarket Holdings LP Buys New Stake in News Corporation $NWSA

Transmarket Holdings LP purchased a new stake in News Corporation (NASDAQ:NWSA) in the third quarter, HoldingsChannel reports. The institutional investor purchased 37,326 shares of the company’s stock, valued at approximately $1,069,000. News comprises about 0.6% of Transmarket Holdings LP’s holdings, making the stock its 29th biggest holding.

A number of other institutional investors also recently bought and sold shares of the business. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of News during the third quarter worth $25,000. Elevation Wealth Partners LLC raised its position in News by 282.7% during the second quarter. Elevation Wealth Partners LLC now owns 2,032 shares of the company’s stock worth $50,000 after acquiring an additional 1,501 shares during the last quarter. Root Financial Partners LLC boosted its stake in shares of News by 96.2% during the first quarter. Root Financial Partners LLC now owns 2,188 shares of the company’s stock valued at $55,000 after acquiring an additional 1,073 shares during the last quarter. IFP Advisors Inc raised its position in shares of News by 79.0% in the second quarter. IFP Advisors Inc now owns 3,682 shares of the company’s stock valued at $91,000 after buying an additional 1,625 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in News by 26.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 8,299 shares of the company’s stock valued at $207,000 after acquiring an additional 1,739 shares during the last quarter. 66.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NWSA has been the topic of several recent analyst reports. Zacks Research downgraded News from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. Wall Street Zen downgraded shares of News from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 24th. Raymond James Financial assumed coverage on shares of News in a research note on Monday, October 19th. They set an “outperform” rating and a $35.00 price objective for the company. Morgan Stanley reissued an “overweight” rating and issued a $35.00 target price on shares of News in a research report on Thursday, August 6th. Finally, Weiss Ratings upgraded shares of News from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, October 12th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.80.

News Price Performance

NWSA opened at $29.31 on Thursday. News Corporation has a 52-week low of $22.20 and a 52-week high of $31.66. The company has a 50 day moving average of $29.81 and a two-hundred day moving average of $26.88. The company has a market cap of $15.86 billion, a P/E ratio of 28.46 and a beta of 0.97. 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 (NASDAQ:NWSA) last posted 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. The business had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.25 billion. News had a net margin of 6.35% and a return on equity of 7.09%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.19 EPS. On average, analysts expect that News Corporation will post 1.30 earnings per share for the current year.

News Dividend Announcement

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

News Profile

News Corp is a global media and information-services company whose Class A common stock trades on the Nasdaq under the symbol NWSA. The company operates a portfolio of businesses spanning digital and print publishing, subscription products, professional information, real estate services and book publishing.

Its principal businesses include Dow Jones, which provides financial news, data, research and professional information through publications such as The Wall Street Journal and Barron’s; News Corp Australia and News UK, which operate newspapers and digital news platforms; and HarperCollins Publishers, which publishes fiction, nonfiction, educational and religious titles.