MBL Wealth LLC Makes New Investment in News Corporation $NWSA

MBL Wealth LLC acquired a new stake in shares of News Corporation (NASDAQ:NWSA) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 28,179 shares of the company’s stock, valued at approximately $807,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NWSA. Turtle Creek Wealth Advisors LLC purchased a new position in News during the 3rd quarter valued at about $25,000. Elevation Wealth Partners LLC grew its holdings in News by 282.7% in the second quarter. Elevation Wealth Partners LLC now owns 2,032 shares of the company’s stock worth $50,000 after purchasing an additional 1,501 shares during the period. Root Financial Partners LLC grew its holdings in News by 96.2% in the first quarter. Root Financial Partners LLC now owns 2,188 shares of the company’s stock worth $55,000 after purchasing an additional 1,073 shares during the period. IFP Advisors Inc increased its stake in shares of News by 79.0% during the second quarter. IFP Advisors Inc now owns 3,682 shares of the company’s stock valued at $91,000 after purchasing an additional 1,625 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of News by 26.5% during the first quarter. EverSource Wealth Advisors LLC now owns 8,299 shares of the company’s stock valued at $207,000 after purchasing an additional 1,739 shares in the last quarter. Hedge funds and other institutional investors own 66.97% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NWSA shares. Morgan Stanley reiterated an “overweight” rating and set a $35.00 target price on shares of News in a report on Thursday, August 6th. Wall Street Zen downgraded News from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Raymond James Financial initiated coverage on News in a research report on Monday. They set an “outperform” rating and a $35.00 price objective for the company. Zacks Research cut News from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. Finally, Weiss Ratings raised News from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, October 12th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, News has a consensus rating of “Moderate Buy” and a consensus target price of $37.80.

News Stock Down 1.1%

NASDAQ:NWSA opened at $30.74 on Friday. The firm has a market cap of $16.63 billion, a P/E 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 fifty-two week low of $22.20 and a fifty-two week high of $31.66. The firm has a 50-day simple moving average of $29.78 and a two-hundred day simple moving average of $27.72.

News (NASDAQ:NWSA) last issued its earnings results on Wednesday, August 5th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.14. The firm had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.25 billion. News had a net margin of 6.35% and a return on equity of 7.09%. The business’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.19 earnings per share. Analysts predict that News Corporation will post 1.30 earnings per share for the current fiscal year.

News Dividend Announcement

The company also recently declared a dividend, which was paid on Wednesday, October 7th. Investors 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 (DPR) is 19.42%.

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.