News Corporation $NWSA Shares Purchased by Quinn Opportunity Partners LLC

Quinn Opportunity Partners LLC raised its position in shares of News Corporation (NASDAQ:NWSA) by 4.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 781,734 shares of the company’s stock after purchasing an additional 30,000 shares during the quarter. News accounts for 1.7% of Quinn Opportunity Partners LLC’s investment portfolio, making the stock its 9th biggest holding. Quinn Opportunity Partners LLC owned about 0.14% of News worth $24,007,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. AQR Capital Management LLC grew its stake in News by 488.0% during the 2nd quarter. AQR Capital Management LLC now owns 8,124,507 shares of the company’s stock valued at $241,054,000 after acquiring an additional 6,742,836 shares in the last quarter. Norges Bank acquired a new stake in shares of News during the second quarter worth approximately $195,910,000. Barclays PLC grew its position in News by 39.5% during the third quarter. Barclays PLC now owns 14,875,615 shares of the company’s stock valued at $456,830,000 after purchasing an additional 4,214,562 shares in the last quarter. Invesco Ltd. increased its stake in News by 46.6% in the 3rd quarter. Invesco Ltd. now owns 7,706,339 shares of the company’s stock valued at $236,662,000 after buying an additional 2,449,552 shares during the period. Finally, Independent Franchise Partners LLP lifted its position in News by 7.3% in the 2nd quarter. Independent Franchise Partners LLP now owns 29,170,531 shares of the company’s stock worth $866,948,000 after buying an additional 1,980,941 shares in the last quarter. Institutional investors and hedge funds own 66.97% of the company’s stock.

News Price Performance

Shares of NWSA stock opened at $23.70 on Friday. The stock’s fifty day simple moving average is $24.88 and its 200 day simple moving average is $26.41. News Corporation has a one year low of $22.20 and a one year high of $31.61. The firm has a market cap of $13.16 billion, a price-to-earnings 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 posted 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 during 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%. The company’s revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the business posted $0.33 earnings per share. On average, analysts expect that News Corporation will post 0.94 earnings per share for the current fiscal year.

News Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Wednesday, March 11th. This represents a yield of 83.0%. News’s dividend payout ratio is presently 9.85%.

Analyst Upgrades and Downgrades

NWSA has been the topic of a number of recent research reports. Citigroup lowered their target price on News from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Monday, February 9th. Morgan Stanley set a $32.40 price objective on shares of 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 research report on Thursday, February 26th. Wall Street Zen downgraded shares of News from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Finally, Zacks Research upgraded News from a “strong sell” rating to a “hold” rating in a report on Thursday, March 5th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $37.02.

News Company 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.