Mirae Asset Global Investments Co. Ltd. Acquires 919 Shares of News Corporation $NWS

Mirae Asset Global Investments Co. Ltd. raised its holdings in News Corporation (NASDAQ:NWS) by 7.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,709 shares of the company’s stock after acquiring an additional 919 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in News were worth $470,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SVB Wealth LLC bought a new position in News in the first quarter valued at approximately $27,000. First Horizon Advisors Inc. boosted its stake in News by 3,546.2% in the first quarter. First Horizon Advisors Inc. now owns 948 shares of the company’s stock valued at $29,000 after acquiring an additional 922 shares during the last quarter. Resona Asset Management Co. Ltd. boosted its stake in News by 75.3% in the first quarter. Resona Asset Management Co. Ltd. now owns 964 shares of the company’s stock valued at $29,000 after acquiring an additional 414 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of News by 150.3% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,925 shares of the company’s stock worth $58,000 after purchasing an additional 1,156 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in shares of News by 20.3% during the first quarter. Asset Management One Co. Ltd. now owns 3,210 shares of the company’s stock worth $97,000 after purchasing an additional 542 shares in the last quarter. 14.63% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Zacks Research raised shares of News from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Weiss Ratings reissued a “buy (b)” rating on shares of News in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy”.

News Trading Down 1.4%

NWS opened at $29.28 on Friday. The stock has a market capitalization of $16.54 billion, a P/E ratio of 14.08 and a beta of 1.17. News Corporation has a 12 month low of $26.25 and a 12 month high of $35.58. The firm’s fifty day simple moving average is $33.24 and its 200 day simple moving average is $32.53. The company has a current ratio of 1.84, a quick ratio of 1.72 and a debt-to-equity ratio of 0.21.

News (NASDAQ:NWS) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. The business had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.09 billion. News had a net margin of 13.21% and a return on equity of 5.66%. As a group, research analysts anticipate that News Corporation will post 1.03 EPS for the current fiscal year.

News Announces Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Wednesday, October 8th. Investors of record on Wednesday, September 10th were given a $0.10 dividend. This represents a yield of 63.0%. The ex-dividend date of this dividend was Wednesday, September 10th. News’s payout ratio is currently 9.62%.

About News

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.