20,019 Shares of News Corporation $NWSA Acquired by Parcion Private Wealth LLC

Parcion Private Wealth LLC bought a new stake in shares of News Corporation (NASDAQ:NWSA) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 20,019 shares of the company’s stock, valued at approximately $574,000.

Several other hedge funds and other institutional investors also recently modified their holdings of NWSA. Turtle Creek Wealth Advisors LLC bought a new position in News in the third quarter worth about $25,000. Elevation Wealth Partners LLC grew its holdings in shares of News by 282.7% during the 2nd 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 period. Root Financial Partners LLC lifted its stake in shares of News by 96.2% in the 1st quarter. Root Financial Partners LLC now owns 2,188 shares of the company’s stock valued at $55,000 after purchasing an additional 1,073 shares during the period. IFP Advisors Inc boosted its position in shares of News by 79.0% during the second quarter. IFP Advisors Inc now owns 3,682 shares of the company’s stock valued at $91,000 after purchasing an additional 1,625 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of News by 26.5% during the first quarter. EverSource Wealth Advisors LLC now owns 8,299 shares of the company’s stock valued at $207,000 after purchasing an additional 1,739 shares in the last quarter. Hedge funds and other institutional investors own 66.97% of the company’s stock.

Analysts Set New Price Targets

NWSA has been the subject of a number of research reports. Zacks Research downgraded News from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Weiss Ratings upgraded shares of News from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, October 12th. Raymond James Financial assumed coverage on shares of News in a research note on Monday, October 19th. They issued an “outperform” rating and a $35.00 price target for the company. JPMorgan Chase & Co. lifted their price target on shares of News from $36.00 to $38.00 and gave the company an “overweight” rating in a research report on Friday, August 21st. Finally, Morgan Stanley reissued an “overweight” rating and set a $35.00 price objective on shares of News in a research note on Thursday, August 6th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.80.

News Price Performance

NASDAQ NWSA opened at $29.12 on Monday. News Corporation has a one year low of $22.20 and a one year high of $31.66. The stock has a 50-day moving average of $29.80 and a 200 day moving average of $26.91. 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 market capitalization of $15.76 billion, a price-to-earnings ratio of 28.27 and a beta of 0.97.

News (NASDAQ:NWSA) last posted its earnings results on Wednesday, August 5th. The company reported $0.35 earnings per share (EPS) 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 analysts’ expectations of $2.25 billion. During the same quarter in the prior year, the business earned $0.19 EPS. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, sell-side analysts forecast that News Corporation will post 1.30 EPS for the current year.

News Dividend Announcement

The business also recently disclosed a dividend, which was paid on Wednesday, October 7th. Investors of record on Wednesday, September 9th were given a dividend of $0.10 per share. The ex-dividend date was Wednesday, September 9th. This represents a yield of 68.0%. News’s dividend payout ratio 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.