NEOS Investment Management LLC Purchases 4,974 Shares of News Co. (NASDAQ:NWSA)

NEOS Investment Management LLC grew its holdings in News Co. (NASDAQ:NWSA) by 30.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 21,257 shares of the company’s stock after buying an additional 4,974 shares during the quarter. NEOS Investment Management LLC’s holdings in News were worth $585,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of NWSA. Elo Mutual Pension Insurance Co lifted its position in shares of News by 31.4% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 44,204 shares of the company’s stock worth $1,217,000 after acquiring an additional 10,557 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in News during the 4th quarter worth about $761,000. Mint Tower Capital Management B.V. purchased a new stake in News during the 4th quarter worth about $640,000. Artisan Partners Limited Partnership boosted its stake in News by 0.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,054,112 shares of the company’s stock worth $56,570,000 after purchasing an additional 12,045 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of News by 6.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 636,100 shares of the company’s stock valued at $17,525,000 after buying an additional 36,429 shares during the period. 66.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. UBS Group upgraded shares of News from a “neutral” rating to a “buy” rating in a research report on Tuesday, February 4th. Loop Capital reduced their price target on shares of News from $44.00 to $41.00 and set a “buy” rating for the company in a research report on Monday, December 23rd. Citigroup initiated coverage on News in a research note on Friday, January 10th. They set a “buy” rating and a $36.00 price objective for the company. Seaport Res Ptn upgraded News to a “strong-buy” rating in a research note on Friday, January 31st. Finally, Guggenheim raised their price target on News from $40.00 to $43.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $39.25.

News Stock Down 1.3 %

NWSA opened at $26.59 on Monday. The company has a quick ratio of 1.65, a current ratio of 1.73 and a debt-to-equity ratio of 0.22. The business’s fifty day simple moving average is $28.14 and its 200 day simple moving average is $27.80. News Co. has a 52 week low of $22.65 and a 52 week high of $30.69. The stock has a market cap of $15.09 billion, a PE ratio of 36.43 and a beta of 1.34.

News (NASDAQ:NWSA) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. News had a return on equity of 5.31% and a net margin of 4.22%. As a group, research analysts expect that News Co. will post 0.94 earnings per share for the current fiscal year.

News Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 12th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.50%. News’s dividend payout ratio (DPR) is 27.40%.

About News

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 through six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.