Voloridge Investment Management LLC increased its position in shares of News Co. (NASDAQ:NWSA) by 135.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 92,634 shares of the company’s stock after buying an additional 53,226 shares during the quarter. Voloridge Investment Management LLC’s holdings in News were worth $1,665,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Squarepoint Ops LLC lifted its stake in News by 469.6% during the fourth quarter. Squarepoint Ops LLC now owns 352,055 shares of the company’s stock worth $6,326,000 after purchasing an additional 290,251 shares during the period. 59 North Capital Management LP bought a new position in shares of News in the fourth quarter valued at approximately $35,122,000. Brookfield Asset Management Inc. raised its stake in shares of News by 1.1% in the fourth quarter. Brookfield Asset Management Inc. now owns 440,000 shares of the company’s stock valued at $7,907,000 after acquiring an additional 5,000 shares during the last quarter. Lombard Odier Asset Management Europe Ltd bought a new position in shares of News in the fourth quarter valued at approximately $323,000. Finally, Neo Ivy Capital Management raised its stake in shares of News by 7.7% in the fourth quarter. Neo Ivy Capital Management now owns 11,425 shares of the company’s stock valued at $205,000 after acquiring an additional 819 shares during the last quarter. 61.15% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:NWSA opened at $26.42 on Thursday. The company’s 50-day moving average price is $25.03 and its two-hundred day moving average price is $19.10. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.18. News Co. has a one year low of $8.26 and a one year high of $27.68. The stock has a market capitalization of $15.61 billion, a PE ratio of -15.45 and a beta of 1.61.
The company also recently announced a Semi-Annual dividend, which will be paid on Wednesday, April 14th. Stockholders of record on Wednesday, March 17th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, March 16th. This represents a dividend yield of 0.9%. News’s payout ratio is 90.91%.
Several research firms recently weighed in on NWSA. Morgan Stanley upgraded shares of News from an “underweight” rating to an “overweight” rating and boosted their price objective for the stock from $15.00 to $30.00 in a research report on Friday, February 12th. JPMorgan Chase & Co. raised shares of News from a “neutral” rating to an “overweight” rating and set a $23.00 target price for the company in a report on Wednesday, January 27th. They noted that the move was a valuation call. Finally, Guggenheim raised shares of News from a “neutral” rating to a “buy” rating and set a $32.00 target price for the company in a report on Wednesday, March 24th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. News has a consensus rating of “Buy” and a consensus price target of $24.00.
News Corporation, a media and information services company, creates and distributes content 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. The company distributes content and data products, including The Wall Street Journal, Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires, Barron's, and MarketWatch through various media channels, such as newspapers, newswires, websites, applications for mobile devices, tablets and e-book readers, newsletters, magazines, proprietary databases, live journalism, videos, and podcasts.
Further Reading: Why are gap-down stocks important?
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.