News Corp. (NWSA) CFO Bedi Ajay Singh Sells 29,857 Shares of Stock
News Corp. (NASDAQ:NWSA) CFO Bedi Ajay Singh sold 29,857 shares of the company’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $14.39, for a total transaction of $429,642.23. Following the sale, the chief financial officer now owns 33,667 shares in the company, valued at $484,468.13. The sale was disclosed in a filing with the SEC, which is available at this link.
News Corp. (NASDAQ:NWSA) opened at 14.62 on Thursday. News Corp. has a one year low of $10.21 and a one year high of $15.68. The company’s 50-day moving average is $13.90 and its 200 day moving average is $12.66. The company has a market capitalization of $8.48 billion, a P/E ratio of 47.93 and a beta of 2.01.
News Corp. (NASDAQ:NWSA) last released its quarterly earnings results on Monday, August 8th. The company reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by $0.03. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.06 billion. News Corp. had a net margin of 2.16% and a return on equity of 1.95%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.07 EPS. On average, equities analysts anticipate that News Corp. will post $0.46 earnings per share for the current year.
The business also recently announced a dividend, which will be paid on Wednesday, October 19th. Stockholders of record on Wednesday, September 14th will be given a $0.10 dividend. The ex-dividend date is Monday, September 12th. News Corp.’s dividend payout ratio (DPR) is 66.67%.
Hedge funds have recently made changes to their positions in the stock. Sentry Investment Management LLC raised its stake in shares of News Corp. by 5,871.2% in the first quarter. Sentry Investment Management LLC now owns 7,882 shares of the company’s stock valued at $101,000 after buying an additional 7,750 shares during the period. Fuller & Thaler Asset Management Inc. bought a new stake in shares of News Corp. during the second quarter valued at about $116,000. Conning Inc. bought a new stake in shares of News Corp. during the second quarter valued at about $118,000. Societe Generale bought a new stake in shares of News Corp. during the second quarter valued at about $121,000. Finally, GSA Capital Partners LLP bought a new stake in shares of News Corp. during the second quarter valued at about $130,000. Institutional investors and hedge funds own 95.59% of the company’s stock.
Several analysts have recently issued reports on NWSA shares. TheStreet upgraded shares of News Corp. from a “hold” rating to a “buy” rating in a research report on Monday, August 15th. Zacks Investment Research upgraded shares of News Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, July 27th. Finally, Morgan Stanley restated a “hold” rating on shares of News Corp. in a research report on Thursday, August 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. News Corp. has a consensus rating of “Hold” and an average target price of $17.13.
About News Corp.
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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