News Corporation $NWS Shares Sold by Burgundy Asset Management Ltd.

Burgundy Asset Management Ltd. lessened its holdings in shares of News Corporation (NASDAQ:NWS) by 1.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,896,357 shares of the company’s stock after selling 33,150 shares during the period. Burgundy Asset Management Ltd.’s holdings in News were worth $64,230,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC purchased a new position in News in the second quarter valued at approximately $30,000. Smartleaf Asset Management LLC boosted 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 valued at $41,000 after buying an additional 580 shares in the last quarter. Assetmark Inc. grew its position in shares of News by 572.8% in the 2nd quarter. Assetmark Inc. now owns 1,803 shares of the company’s stock valued at $62,000 after buying an additional 1,535 shares during the last quarter. Mufg Securities Americas Inc. raised its stake in News by 24.9% during the 2nd quarter. Mufg Securities Americas Inc. now owns 2,470 shares of the company’s stock worth $85,000 after acquiring an additional 493 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in News by 226.3% in the second quarter. EverSource Wealth Advisors LLC now owns 2,907 shares of the company’s stock valued at $100,000 after acquiring an additional 2,016 shares in the last quarter. 14.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NWS. Weiss Ratings lowered News from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, February 23rd. Zacks Research upgraded News from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy”.

News Stock Up 1.8%

News stock opened at $26.69 on Thursday. The stock has a 50 day moving average of $28.68 and a two-hundred day moving average of $30.27. News Corporation has a twelve month low of $25.49 and a twelve month high of $35.58. The stock has a market capitalization of $14.82 billion, a price-to-earnings ratio of 13.15 and a beta of 0.96. The company has a current ratio of 1.81, a quick ratio of 1.69 and a debt-to-equity ratio of 0.20.

News (NASDAQ:NWS) last released its quarterly earnings results on Thursday, February 5th. The company reported $0.40 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.30 billion. As a group, research analysts expect that News Corporation will post 1.03 earnings per share for the current year.

News Dividend Announcement

The company also recently announced a dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 11th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a dividend yield of 73.0%. News’s payout ratio is presently 9.85%.

News Profile

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.