Tensile Capital Management LLC decreased its stake in shares of News Corporation (NASDAQ:NWSA) by 2.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,369,990 shares of the company’s stock after selling 50,000 shares during the period. News Corporation makes up about 7.5% of Tensile Capital Management LLC’s holdings, making the stock its 5th largest position. Tensile Capital Management LLC owned 0.41% of News Corporation worth $33,132,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. Virtus Investment Advisers Inc. purchased a new position in News Corporation during the third quarter valued at approximately $137,000. Jacobs Levy Equity Management Inc. boosted its position in News Corporation by 32.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 970,000 shares of the company’s stock valued at $13,561,000 after buying an additional 238,070 shares during the period. Moore Capital Management LP purchased a new position in News Corporation during the third quarter valued at approximately $174,000. Advantus Capital Management Inc boosted its position in News Corporation by 1.0% in the third quarter. Advantus Capital Management Inc now owns 37,235 shares of the company’s stock valued at $521,000 after buying an additional 371 shares during the period. Finally, Two Sigma Securities LLC purchased a new position in News Corporation during the third quarter valued at approximately $172,000. 95.69% of the stock is owned by hedge funds and other institutional investors.
News Corporation (NASDAQ:NWSA) opened at 13.29 on Friday. News Corporation has a one year low of $10.49 and a one year high of $14.68. The firm’s market capitalization is $7.73 billion. The stock has a 50 day moving average price of $12.09 and a 200-day moving average price of $12.74.
News Corporation (NASDAQ:NWSA) last posted its quarterly earnings results on Thursday, February 9th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. News Corporation had a positive return on equity of 1.61% and a negative net margin of 4.43%. The business earned $2.12 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter last year, the company posted $0.20 earnings per share. News Corporation’s quarterly revenue was down 2.1% on a year-over-year basis. On average, equities analysts forecast that News Corporation will post $0.39 earnings per share for the current year.
The firm also recently declared a semiannual dividend, which will be paid on Wednesday, April 19th. Investors of record on Wednesday, March 15th will be issued a dividend of $0.10 per share. This represents a yield of 1.5%. The ex-dividend date of this dividend is Monday, March 13th. News Corporation’s payout ratio is currently -31.25%.
Several research firms have commented on NWSA. Jefferies Group LLC cut their price target on News Corporation to $17.00 in a report on Friday. Guggenheim reaffirmed a “neutral” rating on shares of News Corporation in a report on Friday. Zacks Investment Research raised News Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, January 10th. TheStreet cut News Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, October 26th. Finally, Bank of America Corporation cut News Corporation from a “neutral” rating to an “underperform” rating and set a $14.00 price target for the company. in a report on Thursday, October 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. News Corporation currently has an average rating of “Hold” and a consensus price target of $15.00.
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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