News Co. (NASDAQ:NWSA) Stock Position Lessened by Harspring Capital Management LLC

Harspring Capital Management LLC reduced its position in shares of News Co. (NASDAQ:NWSA - Free Report) by 5.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 821,500 shares of the company's stock after selling 48,500 shares during the quarter. News comprises about 5.7% of Harspring Capital Management LLC's portfolio, making the stock its 7th biggest position. Harspring Capital Management LLC owned approximately 0.14% of News worth $22,649,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in NWSA. Junto Capital Management LP purchased a new stake in shares of News in the fourth quarter worth approximately $43,928,000. Contour Asset Management LLC raised its stake in shares of News by 97.8% in the fourth quarter. Contour Asset Management LLC now owns 3,442,650 shares of the company's stock worth $84,517,000 after purchasing an additional 1,702,483 shares during the last quarter. Balyasny Asset Management L.P. raised its stake in shares of News by 249.7% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,206,990 shares of the company's stock worth $54,182,000 after purchasing an additional 1,575,803 shares during the last quarter. Ossiam raised its stake in shares of News by 90.5% in the fourth quarter. Ossiam now owns 1,375,447 shares of the company's stock worth $33,767,000 after purchasing an additional 653,474 shares during the last quarter. Finally, Fort Baker Capital Management LP raised its stake in shares of News by 48.6% in the fourth quarter. Fort Baker Capital Management LP now owns 1,695,158 shares of the company's stock worth $41,616,000 after purchasing an additional 554,365 shares during the last quarter. 66.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NWSA shares. Loop Capital upped their target price on News from $38.00 to $39.00 and gave the company a "buy" rating in a report on Tuesday, September 10th. JPMorgan Chase & Co. upped their target price on News from $34.00 to $37.00 and gave the company an "overweight" rating in a report on Thursday, August 15th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, News presently has an average rating of "Buy" and an average target price of $38.00.

News Stock Performance

Shares of NWSA stock traded down $0.20 during trading on Friday, hitting $26.34. The company's stock had a trading volume of 7,065,685 shares, compared to its average volume of 2,735,527. The company has a market cap of $15.01 billion, a PE ratio of 73.17 and a beta of 1.34. The company has a current ratio of 1.43, a quick ratio of 1.33 and a debt-to-equity ratio of 0.32. The business has a fifty day moving average of $27.20 and a 200-day moving average of $26.48. News Co. has a 52 week low of $19.25 and a 52 week high of $28.62.

News (NASDAQ:NWSA - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.01. News had a return on equity of 4.51% and a net margin of 2.64%. The business had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same period in the prior year, the company earned $0.14 earnings per share. News's revenue was up 5.9% compared to the same quarter last year. As a group, research analysts anticipate that News Co. will post 0.87 earnings per share for the current year.

News Announces Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Wednesday, September 11th will be issued a dividend of $0.10 per share. This represents a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 11th. News's dividend payout ratio (DPR) is 55.56%.

News Company Profile

News Corporation, a media and information services company, creates and distributes authoritative and engaging content, and other products and services for consumers and businesses worldwide. It operates in six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.