Quinn Opportunity Partners LLC Buys 30,000 Shares of News Corporation $NWSA

Quinn Opportunity Partners LLC raised its stake in shares of News Corporation (NASDAQ:NWSA) by 4.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 781,734 shares of the company’s stock after buying an additional 30,000 shares during the quarter. News comprises 1.7% of Quinn Opportunity Partners LLC’s portfolio, making the stock its 9th biggest position. Quinn Opportunity Partners LLC’s holdings in News were worth $24,007,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. CYBER HORNET ETFs LLC bought a new position in News during the 2nd quarter worth approximately $30,000. Root Financial Partners LLC bought a new stake in News in the third quarter valued at approximately $35,000. Brown Brothers Harriman & Co. raised its holdings in News by 154.5% in the third quarter. Brown Brothers Harriman & Co. now owns 1,285 shares of the company’s stock worth $39,000 after purchasing an additional 780 shares during the period. Rothschild Investment LLC boosted its position in shares of News by 120.0% during the third quarter. Rothschild Investment LLC now owns 1,749 shares of the company’s stock worth $54,000 after purchasing an additional 954 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in shares of News by 87.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 2,396 shares of the company’s stock valued at $74,000 after buying an additional 1,121 shares during the period. 66.97% of the stock is currently owned by institutional investors and hedge funds.

News Stock Performance

Shares of NWSA stock opened at $23.70 on Friday. The company has a fifty day moving average price of $24.88 and a two-hundred day moving average price of $26.41. News Corporation has a one year low of $22.20 and a one year high of $31.61. The stock has a market cap of $13.16 billion, a P/E ratio of 11.67 and a beta of 0.98. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.81 and a quick ratio of 1.69.

News (NASDAQ:NWSA) last released its quarterly earnings data on Thursday, February 5th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.07. The company had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.30 billion. News had a net margin of 13.35% and a return on equity of 5.94%. News’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 EPS. As a group, equities analysts predict that News Corporation will post 0.94 EPS for the current year.

News Dividend Announcement

The firm also recently declared a dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 11th will be given a dividend of $0.10 per share. This represents a yield of 83.0%. The ex-dividend date of this dividend is Wednesday, March 11th. News’s payout ratio is 9.85%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on NWSA shares. Citigroup dropped their price objective on News from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Monday, February 9th. JPMorgan Chase & Co. cut their price objective on News from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Tuesday, November 25th. Morgan Stanley set a $32.40 price objective on News in a research report on Friday, February 6th. Weiss Ratings downgraded shares of News from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, February 26th. Finally, Zacks Research raised shares of News from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 5th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, News presently has an average rating of “Moderate Buy” and a consensus target price of $37.02.

News Profile

News Corporation (NASDAQ: NWSA) is a global diversified media and information services company headquartered in New York City. It operates through two principal segments: News and Information Services, and Digital Real Estate Services. The company’s news and information division oversees a portfolio of leading newspapers, magazines and digital platforms, offering content across print and online channels. Its properties include Dow Jones, publisher of The Wall Street Journal and Barron’s, News UK titles such as The Times and The Sun, as well as News Corp Australia mastheads.

In addition to its journalism assets, News Corp is a significant player in book publishing through HarperCollins, one of the world’s largest consumer publishers.