News Corporation $NWSA Shares Bought by Engineers Gate Manager LP

Engineers Gate Manager LP grew its position in News Corporation (NASDAQ:NWSA) by 796.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 364,795 shares of the company’s stock after acquiring an additional 324,081 shares during the quarter. Engineers Gate Manager LP owned approximately 0.07% of News worth $9,058,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in NWSA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of News by 5.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,556 shares of the company’s stock valued at $1,022,000 after buying an additional 1,950 shares during the period. United Services Automobile Association acquired a new stake in News during the first quarter worth about $206,000. Empowered Funds LLC bought a new position in News in the first quarter worth about $204,000. Focus Partners Wealth boosted its stake in News by 44.4% in the first quarter. Focus Partners Wealth now owns 16,618 shares of the company’s stock valued at $452,000 after acquiring an additional 5,106 shares during the period. Finally, Sivia Capital Partners LLC bought a new position in shares of News during the second quarter valued at approximately $545,000. 66.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on NWSA. JPMorgan Chase & Co. raised their price target on News from $36.00 to $38.00 and gave the stock an “overweight” rating in a report on Friday, August 21st. Zacks Research downgraded News from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. Weiss Ratings raised News from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Wall Street Zen raised shares of News from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, Morgan Stanley restated an “overweight” rating and set a $35.00 price target on shares of News in a research report on Thursday, August 6th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $38.50.

News Trading Down 0.8%

Shares of NWSA stock opened at $29.38 on Friday. News Corporation has a 1 year low of $22.20 and a 1 year high of $31.66. The firm has a market capitalization of $15.90 billion, a PE ratio of 28.52 and a beta of 0.91. The stock has a fifty day moving average of $28.82 and a two-hundred day moving average of $26.58. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.51 and a current ratio of 1.62.

News (NASDAQ:NWSA) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.14. The business had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.25 billion. News had a net margin of 6.35% and a return on equity of 7.09%. The company’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.19 earnings per share. As a group, research analysts expect that News Corporation will post 1.31 EPS for the current year.

News Dividend Announcement

The business also recently declared a dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 9th will be paid a $0.10 dividend. This represents a dividend yield of 68.0%. The ex-dividend date of this dividend is Wednesday, September 9th. News’s dividend payout ratio is currently 19.42%.

News Company Profile

News Corp is a global media and information-services company headquartered in New York. The company owns and operates businesses in news, publishing, digital real estate services and subscription-based information products, serving consumers, businesses and professional audiences across multiple markets.

Its portfolio includes Dow Jones, which provides business news, financial information and research through publications and services such as The Wall Street Journal and Barron’s; News UK, publisher of The Times, The Sunday Times and The Sun; and News Corp Australia, which operates newspapers and digital media brands.