Verition Fund Management LLC Increases Stake in News Corporation (NWSA)

Verition Fund Management LLC boosted its position in News Corporation (NASDAQ:NWSA) by 380.9% during the third quarter, Holdings Channel reports. The institutional investor owned 53,862 shares of the company’s stock after buying an additional 42,662 shares during the period. Verition Fund Management LLC’s holdings in News Corporation were worth $753,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of NWSA. BTG Pactual Global Asset Management Ltd bought a new stake in shares of News Corporation during the third quarter worth about $3,001,000. Virtus Investment Advisers Inc. bought a new stake in shares of News Corporation during the third quarter worth about $137,000. Jacobs Levy Equity Management Inc. raised its stake in shares of News Corporation by 32.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 970,000 shares of the company’s stock worth $13,561,000 after buying an additional 238,070 shares during the period. Moore Capital Management LP bought a new stake in shares of News Corporation during the third quarter worth about $174,000. Finally, Advantus Capital Management Inc raised its stake in shares of News Corporation by 1.0% in the third quarter. Advantus Capital Management Inc now owns 37,235 shares of the company’s stock worth $521,000 after buying an additional 371 shares during the period. 95.69% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for News Corporation (NASDAQ:NWSA)

News Corporation (NASDAQ:NWSA) traded up 7.26% during trading on Friday, hitting $13.29. The company had a trading volume of 4,797,877 shares. The stock’s market capitalization is $7.72 billion. News Corporation has a one year low of $10.49 and a one year high of $14.68. The stock has a 50-day moving average of $12.09 and a 200-day moving average of $12.74.

News Corporation (NASDAQ:NWSA) last issued its quarterly earnings data on Thursday, February 9th. The company reported $0.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The business had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.11 billion. News Corporation had a positive return on equity of 1.61% and a negative net margin of 4.43%. The firm’s revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.20 EPS. On average, equities analysts anticipate that News Corporation will post $0.39 EPS for the current year.

The business also recently disclosed a semiannual dividend, which will be paid on Wednesday, April 19th. Stockholders of record on Wednesday, March 15th will be issued a $0.10 dividend. This represents a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, March 13th. News Corporation’s payout ratio is -31.25%.

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A number of research analysts have recently weighed in on the company. TheStreet downgraded News Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, October 26th. Bank of America Corporation downgraded News Corporation from a “neutral” rating to an “underperform” rating and set a $14.00 target price on the stock. in a research note on Thursday, October 27th. Jefferies Group LLC restated a “buy” rating and issued a $18.00 target price on shares of News Corporation in a research note on Tuesday, November 8th. Zacks Investment Research upgraded News Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, January 10th. Finally, Guggenheim restated a “neutral” rating on shares of News Corporation in a research note on Friday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price 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.

5 Day Chart for NASDAQ:NWSA

Want to see what other hedge funds are holding NWSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for News Corporation (NASDAQ:NWSA).

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