MBL Wealth LLC Purchases 28,179 Shares of News Corporation $NWSA

MBL Wealth LLC purchased a new stake in shares of News Corporation (NASDAQ:NWSA) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 28,179 shares of the company’s stock, valued at approximately $807,000.

Other institutional investors also recently modified their holdings of the company. Turtle Creek Wealth Advisors LLC bought a new stake in News in the 3rd quarter worth about $25,000. Elevation Wealth Partners LLC raised its position in News by 282.7% in the 2nd quarter. Elevation Wealth Partners LLC now owns 2,032 shares of the company’s stock worth $50,000 after buying an additional 1,501 shares during the last quarter. Root Financial Partners LLC raised its position in News by 96.2% in the 1st quarter. Root Financial Partners LLC now owns 2,188 shares of the company’s stock worth $55,000 after buying an additional 1,073 shares during the last quarter. IFP Advisors Inc lifted its stake in News by 79.0% during the 2nd quarter. IFP Advisors Inc now owns 3,682 shares of the company’s stock valued at $91,000 after acquiring an additional 1,625 shares during the period. Finally, Sowell Financial Services LLC bought a new position in News during the 3rd quarter valued at about $217,000. 66.97% of the stock is owned by hedge funds and other institutional investors.

News Stock Down 1.1%

News stock opened at $30.74 on Friday. The stock has a market cap of $16.63 billion, a PE ratio of 29.84 and a beta of 0.97. 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 Corporation has a one year low of $22.20 and a one year high of $31.66. The stock has a fifty day moving average of $29.78 and a 200 day moving average of $27.72.

News (NASDAQ:NWSA) last posted its earnings results 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 company had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.25 billion. News had a return on equity of 7.09% and a net margin of 6.35%. News’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 earnings per share. As a group, sell-side analysts predict that News Corporation will post 1.30 EPS for the current year.

News Announces Dividend

The firm also recently declared a dividend, which was paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 9th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, September 9th. This represents a dividend yield of 68.0%. News’s dividend payout ratio is presently 19.42%.

Analyst Ratings Changes

NWSA has been the topic of a number of recent analyst reports. Weiss Ratings raised shares of News from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, October 12th. JPMorgan Chase & Co. boosted their price objective on shares of News from $36.00 to $38.00 and gave the company an “overweight” rating in a report on Friday, August 21st. Wall Street Zen downgraded shares of News from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Raymond James Financial initiated coverage on shares of News in a report on Monday. They issued an “outperform” rating and a $35.00 target price on the stock. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $35.00 target price on shares of News in a research report on Thursday, August 6th. Six 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 a consensus rating of “Moderate Buy” and an average target price of $37.80.

News Company Profile

News Corp is a global media and information-services company whose Class A common stock trades on the Nasdaq under the symbol NWSA. The company operates a portfolio of businesses spanning digital and print publishing, subscription products, professional information, real estate services and book publishing.

Its principal businesses include Dow Jones, which provides financial news, data, research and professional information through publications such as The Wall Street Journal and Barron’s; News Corp Australia and News UK, which operate newspapers and digital news platforms; and HarperCollins Publishers, which publishes fiction, nonfiction, educational and religious titles.