News Corp. (NWS) Sees Large Increase in Short Interest
News Corp. (NASDAQ:NWS) saw a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 2,979,838 shares, an increase of 30.7% from the August 31st total of 2,280,100 shares. Currently, 3.0% of the shares of the company are sold short. Based on an average daily volume of 3,067,930 shares, the days-to-cover ratio is presently 1.0 days.
Shares of News Corp. (NASDAQ:NWS) opened at 14.69 on Wednesday. The company’s 50-day moving average price is $14.26 and its 200-day moving average price is $13.07. The firm has a market capitalization of $8.52 billion, a P/E ratio of 48.16 and a beta of 1.89. News Corp. has a 52-week low of $10.74 and a 52-week high of $15.74.
The business also recently announced a dividend, which will be paid on Wednesday, October 19th. Investors of record on Wednesday, September 14th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Monday, September 12th. News Corp.’s payout ratio is presently 66.67%.
Separately, TheStreet raised News Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, August 9th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $18.00.
A number of institutional investors have recently made changes to their positions in NWS. Advantus Capital Management Inc boosted its stake in shares of News Corp. by 1.5% in the second quarter. Advantus Capital Management Inc now owns 10,343 shares of the company’s stock valued at $121,000 after buying an additional 148 shares during the period. World Asset Management Inc boosted its stake in shares of News Corp. by 0.3% in the second quarter. World Asset Management Inc now owns 10,860 shares of the company’s stock valued at $127,000 after buying an additional 31 shares during the period. CIBC Asset Management Inc boosted its stake in shares of News Corp. by 6.4% in the second quarter. CIBC Asset Management Inc now owns 11,310 shares of the company’s stock valued at $132,000 after buying an additional 685 shares during the period. Bank of Montreal Can acquired a new stake in shares of News Corp. during the second quarter valued at approximately $144,000. Finally, TFS Capital LLC acquired a new stake in shares of News Corp. during the second quarter valued at approximately $144,000. 10.56% of the stock is owned by hedge funds and other institutional investors.
News Corp. Company Profile
News Corporation is a diversified media and information services company. The Company operates in five segments: News and Information Services, Cable Network Programming, Digital Real Estate Services, Book Publishing, and Other. The Company’s business consists of range of media, including news and information services, sports programming in Australia, digital real estate services, book publishing, and pay-television (TV) distribution in Australia, that are distributed under the brands, including The Wall Street Journal, Dow Jones, Herald Sun, The Sun, The Times, HarperCollins Publishers, FOX SPORTS Australia and realestate.com.au.
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