Cubist Systematic Strategies LLC Acquires 13,185 Shares of News Corp (NASDAQ:NWSA)

Cubist Systematic Strategies LLC grew its holdings in shares of News Corp (NASDAQ:NWSA) by 115.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 24,585 shares of the company’s stock after purchasing an additional 13,185 shares during the period. Cubist Systematic Strategies LLC’s holdings in News were worth $332,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Point72 Asset Management L.P. bought a new stake in News during the 2nd quarter worth about $183,000. Morgan Stanley lifted its position in News by 588.3% during the 2nd quarter. Morgan Stanley now owns 612,665 shares of the company’s stock worth $8,265,000 after buying an additional 523,660 shares in the last quarter. Balyasny Asset Management LLC lifted its position in News by 44.9% during the 2nd quarter. Balyasny Asset Management LLC now owns 1,138,287 shares of the company’s stock worth $15,355,000 after buying an additional 352,719 shares in the last quarter. Putnam Investments LLC lifted its position in News by 237.4% during the 2nd quarter. Putnam Investments LLC now owns 372,073 shares of the company’s stock worth $5,019,000 after buying an additional 261,798 shares in the last quarter. Finally, Invesco Ltd. lifted its position in News by 11.6% during the 2nd quarter. Invesco Ltd. now owns 3,792,815 shares of the company’s stock worth $51,164,000 after buying an additional 392,818 shares in the last quarter. 62.62% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NWSA stock opened at $13.50 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.11 and a current ratio of 1.21. The firm’s 50-day moving average is $13.88 and its 200-day moving average is $12.96. The stock has a market cap of $7.59 billion, a price-to-earnings ratio of 29.35 and a beta of 1.49. News Corp has a 52-week low of $10.65 and a 52-week high of $14.65.

News (NASDAQ:NWSA) last issued its earnings results on Thursday, August 8th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.05. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.56 billion. News had a net margin of 1.54% and a return on equity of 2.59%. News’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.08 EPS. Sell-side analysts predict that News Corp will post 0.4 EPS for the current fiscal year.

The company also recently announced a Semi-Annual dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Wednesday, September 11th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. News’s payout ratio is 43.48%.

Several equities research analysts have commented on the stock. ValuEngine raised shares of News from a “sell” rating to a “hold” rating in a research report on Monday, June 17th. JPMorgan Chase & Co. cut shares of News from a “neutral” rating to an “underweight” rating in a research report on Thursday, July 18th. Credit Suisse Group raised shares of News from a “neutral” rating to an “outperform” rating and upped their target price for the company from $13.70 to $15.30 in a report on Sunday, August 11th. Finally, BidaskClub raised shares of News from a “sell” rating to a “hold” rating in a report on Friday, October 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $14.15.

News Company Profile

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: What is systematic risk?

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Institutional Ownership by Quarter for News (NASDAQ:NWSA)

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