Commerce Bank reduced its position in News Co. (NASDAQ: NWSA – Get Rating) stock by 13.4% in Q1, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor held 10,709 shares of the company after selling 1,660 shares during the period. Commerce Bank‘s holdings in News were worth $237,000 when it last filed with the Securities and Exchange Commission.
Several other institutional investors have also recently bought and sold shares of NWSA. Pacer Advisors Inc. increased its stake in News by 3.6% during the fourth quarter. Pacer Advisors Inc. now owns 21,440 shares of the company valued at $478,000 after buying 753 additional shares in the last quarter. Daiwa Securities Group Inc. increased its stake in News by 2.8% during the fourth quarter. Daiwa Securities Group Inc. now owns 21,538 shares of the company valued at $481,000 after buying an additional 588 shares last quarter. Mutual of America Capital Management LLC increased its stake in News by 1.1% during the fourth quarter. Mutual of America Capital Management LLC now owns 51,892 shares of the company valued at $1,158,000 after buying an additional 564 shares last quarter. Advisor Group Holdings Inc. increased its stake in News by 20.2% during the fourth quarter. Advisor Group Holdings Inc. now owns 70,444 shares of the company valued at $1,572,000 after purchasing an additional 11,829 shares in the last quarter. Finally, the Toronto Dominion Bank increased its stake in News by 9.9% during the fourth quarter. The Toronto Dominion Bank now owns 283,722 shares of the company valued at $6,330,000 after buying 25,503 more shares last quarter. 63.98% of the shares are currently held by institutional investors.
News stock down 0.3%
NWSA stock opened at $18.28 on Friday. News Co. has a 12-month low of $14.95 and a 12-month high of $25.86. The company has a market capitalization of $10.71 billion, a PE ratio of 17.25 and a beta of 1.30. The company’s 50-day simple moving average is $16.47 and its 200-day simple moving average is $19.15. The company has a quick ratio of 1.07, a current ratio of 1.16 and a debt ratio of 0.30.
News (NASDAQ:NWSA – Get Rating) last reported results on Monday, August 8. The company reported earnings per share of $0.37 for the quarter, beating analyst consensus estimates of $0.15 by $0.22. News had a return on equity of 7.69% and a net margin of 6.00%. The company posted revenue of $2.67 billion for the quarter, versus a consensus estimate of $2.58 billion. During the same period last year, the company made earnings per share of $0.16. The company’s revenue for the quarter increased 7.4% compared to the same quarter last year. On average, research analysts expect News Co. to post 1.04 earnings per share for the current year.
The company also recently announced a semi-annual dividend, which will be paid on Wednesday, October 12. Investors of record on Wednesday, September 14 will receive a dividend of $0.10 per share. This represents a return of 1.1%. The ex-dividend date is Tuesday, September 13. News’ dividend payout ratio (DPR) is currently 18.87%.
Changes to analyst ratings
Several research companies have weighed in on the NWSA. TheStreet downgraded News from a “b” grade to a “c” grade in a Thursday, May 5, report. StockNews.com downgraded News from a “buy” rating to a “hold” rating in a research report on Wednesday. Guggenheim raised its price target on News to $34.00 in a research report on Monday. Finally, Macquarie downgraded News from an “outperform” rating to a “neutral” rating and set a price target of $21.10 for the stock. in a research report on Thursday, July 28.
Insider buying and selling at News
In other news, General Counsel David B. Pitofsky sold 82,028 shares of News in a trade that took place on Monday, August 15. The stock was sold at an average price of $18.73, for a total transaction of $1,536,384.44. Following the sale, the General Counsel now directly owns 87,706 shares of the company, valued at $1,642,733.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via the SEC’s website. Insiders of the company hold 13.73% of the shares of the company.
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News Corporation, a media and information services company, is focused on creating and distributing content for consumers and businesses around the world. It operates in six segments: digital real estate services, subscription video services, Dow Jones, book publishing, news media and others. The Company distributes content and data products, including The Wall Street Journal, Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires, Barron’s, MarketWatch and Investor’s Business Daily through various media channels, such as newspapers, newswires, websites, applications for mobile devices, tablets and e-book readers, newsletters, magazines, proprietary databases, live journalism, videos and podcasts.
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