Employees Retirement System of Texas Sells 87,700 Shares of News Corp (NWSA)

Employees Retirement System of Texas reduced its holdings in shares of News Corp (NASDAQ:NWSA) by 79.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,750 shares of the company’s stock after selling 87,700 shares during the quarter. Employees Retirement System of Texas’ holdings in News were worth $258,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of NWSA. Legacy Bridge LLC purchased a new position in News during the 4th quarter valued at about $37,000. Advisor Group Inc. increased its holdings in News by 83.2% during the 4th quarter. Advisor Group Inc. now owns 3,355 shares of the company’s stock valued at $38,000 after acquiring an additional 1,524 shares in the last quarter. Enlightenment Research LLC purchased a new position in News during the 4th quarter valued at about $56,000. Cadence Capital Management LLC purchased a new position in News during the 3rd quarter valued at about $138,000. Finally, Signition LP increased its holdings in News by 11.9% during the 4th quarter. Signition LP now owns 13,575 shares of the company’s stock valued at $154,000 after acquiring an additional 1,448 shares in the last quarter. Hedge funds and other institutional investors own 61.83% of the company’s stock.

News stock opened at $12.64 on Friday. News Corp has a 12-month low of $10.65 and a 12-month high of $16.68. The stock has a market cap of $7.45 billion, a price-to-earnings ratio of 28.73, a PEG ratio of 3.65 and a beta of 1.48. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.09 and a current ratio of 1.19.

News (NASDAQ:NWSA) last released its quarterly earnings results on Thursday, February 7th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.02. News had a negative net margin of 13.11% and a positive return on equity of 2.70%. The company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same period last year, the company earned $0.24 EPS. The firm’s revenue for the quarter was up 20.5% compared to the same quarter last year. As a group, equities research analysts expect that News Corp will post 0.38 EPS for the current fiscal year.

The company also recently declared a semiannual dividend, which will be paid on Wednesday, April 17th. Shareholders of record on Wednesday, March 13th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, March 12th. This represents a dividend yield of 1.61%. News’s dividend payout ratio is currently 45.45%.

Several equities research analysts have issued reports on the stock. ValuEngine cut shares of News from a “hold” rating to a “sell” rating in a research note on Wednesday, January 30th. UBS Group raised shares of News from a “neutral” rating to a “buy” rating in a research note on Thursday, January 17th. Zacks Investment Research cut shares of News from a “buy” rating to a “hold” rating in a research note on Friday, February 8th. Finally, Citigroup raised shares of News from a “neutral” rating to a “buy” rating in a research note on Monday, January 14th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $14.17.

COPYRIGHT VIOLATION WARNING: “Employees Retirement System of Texas Sells 87,700 Shares of News Corp (NWSA)” was first published by WKRB News and is owned by of WKRB News. If you are accessing this article on another publication, it was copied illegally and republished in violation of international trademark and copyright law. The original version of this article can be read at https://www.wkrb13.com/2019/03/15/employees-retirement-system-of-texas-sells-87700-shares-of-news-corp-nwsa.html.

About News

News Corporation, a media and information services company, creates and distributes content for consumers and businesses worldwide. It operates in five segments: News and Information Services, Book Publishing, Digital Real Estate Services, Subscription Video Services, and Other. The company distributes content and data products, including The Wall Street Journal, Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires, Barron's, MarketWatch, and DJX through various media channels, such as newspapers, newswires, Websites, mobile device applications, tablets and e-book readers, newsletters, magazines, proprietary databases, live journalism, video, and podcasts.

Further Reading: Cost of equity and a company’s balance sheet

Institutional Ownership by Quarter for News (NASDAQ:NWSA)

Receive News & Ratings for News Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for News and related companies with MarketBeat.com's FREE daily email newsletter.