Public Employees Retirement Association of Colorado Lowers Stake in News Corporation (NWSA)
Public Employees Retirement Association of Colorado decreased its stake in News Corporation (NASDAQ:NWSA) by 0.1% during the second quarter, Holdings Channel reports. The fund owned 71,370 shares of the company’s stock after selling 58 shares during the period. Public Employees Retirement Association of Colorado’s holdings in News Corporation were worth $978,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Ameritas Investment Partners Inc. purchased a new stake in shares of News Corporation during the first quarter valued at approximately $118,000. Mn Services Vermogensbeheer B.V. boosted its stake in shares of News Corporation by 4.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 9,869 shares of the company’s stock valued at $120,000 after buying an additional 413 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of News Corporation by 56.6% in the first quarter. Pacer Advisors Inc. now owns 10,662 shares of the company’s stock valued at $139,000 after buying an additional 3,853 shares during the last quarter. QUANTRES ASSET MANAGEMENT Ltd purchased a new stake in shares of News Corporation during the first quarter valued at approximately $143,000. Finally, Creative Planning boosted its stake in shares of News Corporation by 109.9% in the second quarter. Creative Planning now owns 11,068 shares of the company’s stock valued at $152,000 after buying an additional 5,795 shares during the last quarter. Hedge funds and other institutional investors own 93.53% of the company’s stock.
News Corporation (NASDAQ:NWSA) opened at 13.31 on Wednesday. News Corporation has a 1-year low of $10.99 and a 1-year high of $14.68. The firm’s market cap is $7.75 billion. The firm’s 50-day moving average price is $13.81 and its 200-day moving average price is $13.13.
News Corporation (NASDAQ:NWSA) last released its quarterly earnings data on Thursday, August 10th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. News Corporation had a positive return on equity of 1.81% and a negative net margin of 9.07%. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period last year, the business posted $0.10 EPS. News Corporation’s quarterly revenue was down 6.6% on a year-over-year basis. On average, equities research analysts anticipate that News Corporation will post $0.49 earnings per share for the current year.
The company also recently disclosed a semiannual dividend, which will be paid on Wednesday, October 18th. Investors of record on Wednesday, September 13th will be paid a $0.10 dividend. This represents a yield of 1.49%. The ex-dividend date of this dividend is Tuesday, September 12th. News Corporation’s payout ratio is currently -15.63%.
Several brokerages recently commented on NWSA. Zacks Investment Research cut News Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. Jefferies Group LLC reiterated a “buy” rating and set a $17.00 price target on shares of News Corporation in a research report on Monday, May 22nd. Finally, Rosenblatt Securities began coverage on News Corporation in a research report on Friday, July 14th. They set a “buy” rating and a $17.00 price target for the company. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $15.20.
News Corporation 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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