Arlington Partners LLC Buys 23,973 Shares of News Co. (NASDAQ:NWSA)

Arlington Partners LLC boosted its stake in shares of News Co. (NASDAQ:NWSA) by 19.5% in the third quarter, Holdings Channel reports. The firm owned 146,709 shares of the company’s stock after acquiring an additional 23,973 shares during the period. Arlington Partners LLC’s holdings in News were worth $3,907,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. US Bancorp DE grew its stake in News by 2.4% in the 1st quarter. US Bancorp DE now owns 18,406 shares of the company’s stock valued at $482,000 after buying an additional 424 shares during the last quarter. Empirical Finance LLC grew its position in shares of News by 3.5% in the first quarter. Empirical Finance LLC now owns 13,898 shares of the company’s stock valued at $364,000 after purchasing an additional 465 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of News by 3.7% in the second quarter. Fifth Third Bancorp now owns 13,802 shares of the company’s stock worth $381,000 after purchasing an additional 496 shares during the period. Acadian Asset Management LLC lifted its position in shares of News by 95.1% during the 2nd quarter. Acadian Asset Management LLC now owns 1,038 shares of the company’s stock worth $28,000 after purchasing an additional 506 shares during the last quarter. Finally, CWM LLC boosted its stake in News by 7.8% during the 2nd quarter. CWM LLC now owns 7,339 shares of the company’s stock valued at $202,000 after purchasing an additional 532 shares during the period. Institutional investors and hedge funds own 66.97% of the company’s stock.

News Stock Performance

NWSA stock traded down $0.05 during trading on Monday, reaching $26.28. 234,764 shares of the stock were exchanged, compared to its average volume of 2,641,896. The stock has a 50 day simple moving average of $26.80 and a 200-day simple moving average of $26.52. The company has a current ratio of 1.43, a quick ratio of 1.33 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $14.98 billion, a P/E ratio of 73.14 and a beta of 1.34. News Co. has a twelve month low of $20.11 and a twelve month high of $28.62.

News (NASDAQ:NWSA) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The business had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.49 billion. News had a return on equity of 4.51% and a net margin of 2.64%. News’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.14 earnings per share. As a group, sell-side analysts anticipate that News Co. will post 0.85 earnings per share for the current year.

News Dividend Announcement

The firm also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, October 9th. Stockholders of record on Wednesday, September 11th were paid a $0.10 dividend. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, September 11th. News’s dividend payout ratio is 55.56%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Loop Capital lifted their price target on News from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. JPMorgan Chase & Co. boosted their target price on shares of News from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat, News has an average rating of “Buy” and an average price target of $38.00.

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.