Nisa Investment Advisors LLC Makes New $6.47 Million Investment in News Corporation $NWSA

Nisa Investment Advisors LLC purchased a new stake in News Corporation (NASDAQ:NWSA) during the third quarter, HoldingsChannel reports. The firm purchased 225,090 shares of the company’s stock, valued at approximately $6,471,000.

Several other hedge funds have also added to or reduced their stakes in NWSA. Turtle Creek Wealth Advisors LLC acquired a new position in shares of News in the third quarter valued at $25,000. Elevation Wealth Partners LLC raised its position in shares of News by 282.7% in the second quarter. Elevation Wealth Partners LLC now owns 2,032 shares of the company’s stock valued at $50,000 after purchasing an additional 1,501 shares during the period. Root Financial Partners LLC raised its position in shares of News by 96.2% in the first quarter. Root Financial Partners LLC now owns 2,188 shares of the company’s stock valued at $55,000 after purchasing an additional 1,073 shares during the period. IFP Advisors Inc lifted its stake in shares of News by 79.0% during the 2nd quarter. IFP Advisors Inc now owns 3,682 shares of the company’s stock worth $91,000 after buying an additional 1,625 shares during the last quarter. Finally, Kaufman Rossin Wealth LLC acquired a new stake in shares of News during the 3rd quarter worth about $223,000. Institutional investors and hedge funds own 66.97% of the company’s stock.

News Stock Down 1.1%

NWSA opened at $30.74 on Friday. News Corporation has a fifty-two week low of $22.20 and a fifty-two week high of $31.66. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.51 and a current ratio of 1.62. The company has a market capitalization of $16.63 billion, a P/E ratio of 29.84 and a beta of 0.97. The stock has a fifty day moving average of $29.78 and a 200-day moving average of $27.72.

News (NASDAQ:NWSA) last announced its earnings results on Wednesday, August 5th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.14. News had a net margin of 6.35% and a return on equity of 7.09%. The company had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter in the previous year, the business posted $0.19 earnings per share. News’s quarterly revenue was up 10.8% on a year-over-year basis. On average, equities analysts expect that News Corporation will post 1.30 EPS for the current year.

News Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Wednesday, October 7th. Shareholders of record on Wednesday, September 9th were paid a $0.10 dividend. The ex-dividend date was Wednesday, September 9th. This represents a yield of 68.0%. News’s payout ratio is 19.42%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of News from $36.00 to $38.00 and gave the company an “overweight” rating in a research note on Friday, August 21st. Weiss Ratings upgraded shares of News from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, October 12th. Zacks Research cut News from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Wall Street Zen downgraded News from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $35.00 target price on shares of News in a research report on Thursday, August 6th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.80.

News Company Profile

News Corp is a global media and information-services company whose Class A common stock trades on the Nasdaq under the symbol NWSA. The company operates a portfolio of businesses spanning digital and print publishing, subscription products, professional information, real estate services and book publishing.

Its principal businesses include Dow Jones, which provides financial news, data, research and professional information through publications such as The Wall Street Journal and Barron’s; News Corp Australia and News UK, which operate newspapers and digital news platforms; and HarperCollins Publishers, which publishes fiction, nonfiction, educational and religious titles.