Nationwide Fund Advisors raised its stake in shares of News Corp. (NASDAQ:NWSA) by 99.2% during the second quarter, Holdings Channel reports. The firm owned 330,793 shares of the company’s stock after buying an additional 164,745 shares during the period. Nationwide Fund Advisors owned about 0.06% of News Corp. worth $3,755,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Acadian Asset Management LLC acquired a new position in shares of News Corp. during the first quarter valued at about $301,000. TIAA CREF Investment Management LLC raised its position in shares of News Corp. by 10.9% in the first quarter. TIAA CREF Investment Management LLC now owns 487,346 shares of the company’s stock valued at $6,223,000 after buying an additional 47,902 shares during the period. Teachers Advisors Inc. raised its position in News Corp. by 4.2% in the first quarter. Teachers Advisors Inc. now owns 396,078 shares of the company’s stock valued at $5,058,000 after buying an additional 15,796 shares during the last quarter. BlackRock Group LTD raised its position in News Corp. by 0.9% in the first quarter. BlackRock Group LTD now owns 2,895,766 shares of the company’s stock valued at $36,979,000 after buying an additional 25,659 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in News Corp. by 2.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 9,955,922 shares of the company’s stock valued at $127,137,000 after buying an additional 228,067 shares during the last quarter. 95.59% of the stock is currently owned by institutional investors.
Shares of News Corp. (NASDAQ:NWSA) traded up 1.085% during mid-day trading on Wednesday, reaching $14.435. 516,248 shares of the company’s stock traded hands. The company has a market cap of $8.37 billion, a price-to-earnings ratio of 47.328 and a beta of 2.01. The company has a 50 day moving average of $13.87 and a 200 day moving average of $12.65. News Corp. has a 12 month low of $10.21 and a 12 month high of $15.68.
News Corp. (NASDAQ:NWSA) last issued its 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 business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.06 billion. News Corp. had a return on equity of 1.95% and a net margin of 2.16%. The firm’s revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.07 EPS. Analysts expect that News Corp. will post $0.46 earnings per share for the current fiscal year.
The company also recently disclosed a dividend, which will be paid on Wednesday, October 19th. Stockholders of record on Wednesday, September 14th will be paid a $0.10 dividend. The ex-dividend date is Monday, September 12th. News Corp.’s dividend payout ratio is currently 66.67%.
NWSA has been the topic of several recent analyst reports. Zacks Investment Research raised shares of News Corp. from a “sell” rating to a “hold” rating in a research note on Monday, June 13th. TheStreet raised shares of News Corp. from a “hold” rating to a “buy” rating in a research note on Monday, August 15th. Finally, Morgan Stanley reissued a “hold” rating on shares of News Corp. in a research note on Thursday, August 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus 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.