News Corporation $NWS Shares Sold by Wealthfront Advisers LLC

Wealthfront Advisers LLC trimmed its stake in News Corporation (NASDAQ:NWS) by 38.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,319 shares of the company’s stock after selling 18,567 shares during the quarter. Wealthfront Advisers LLC’s holdings in News were worth $898,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. NewEdge Advisors LLC acquired a new position in shares of News in the 2nd quarter worth $30,000. Smartleaf Asset Management LLC grew its holdings in shares of News by 97.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,178 shares of the company’s stock worth $41,000 after acquiring an additional 580 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of News in the 4th quarter worth $68,000. Danske Bank A S acquired a new position in shares of News in the 3rd quarter worth $97,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of News by 226.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,907 shares of the company’s stock worth $100,000 after acquiring an additional 2,016 shares during the last quarter. 14.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NWS has been the topic of a number of recent research reports. Weiss Ratings cut News from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, April 6th. Zacks Research downgraded News from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, News presently has an average rating of “Hold”.

News Stock Performance

Shares of NWS stock opened at $30.41 on Monday. News Corporation has a 1-year low of $25.49 and a 1-year high of $35.58. The company has a current ratio of 1.81, a quick ratio of 1.69 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $16.89 billion, a price-to-earnings ratio of 14.98 and a beta of 0.89. The stock’s fifty day simple moving average is $28.10 and its 200-day simple moving average is $28.95.

News (NASDAQ:NWS) last issued its quarterly earnings results on Thursday, February 5th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.15. News had a return on equity of 5.94% and a net margin of 13.35%.The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.30 billion. On average, sell-side analysts predict that News Corporation will post 0.97 earnings per share for the current fiscal year.

News Dividend Announcement

The firm also recently declared a dividend, which was paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 11th were issued a dividend of $0.10 per share. The ex-dividend date was Wednesday, March 11th. This represents a dividend yield of 73.0%. News’s payout ratio is currently 9.85%.

About News

News Corporation (NASDAQ: NWS) is a global media and information services company engaged in news and digital real estate, book publishing and other media businesses. The company’s operations include print and digital newsbrands, business and financial information services, consumer platforms for property listings, and a major book publishing arm. Through its subsidiaries and brands, News Corp produces news content, market and financial reporting, online real-estate marketplaces and trade and consumer publishing products.

Key areas of activity include news and information, where the company publishes national and regional newspapers and operates business information services; book publishing through a well-known global publisher; and property-related digital businesses that operate online marketplaces for real estate listings.