Los Angeles Capital Management & Equity Research Inc. purchased a new stake in News Corp. (NASDAQ:NWS) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 18,140 shares of the company’s stock, valued at approximately $212,000.
Several other hedge funds also recently bought and sold shares of NWS. Banco BTG Pactual S.A. bought a new stake in News Corp. during the second quarter valued at approximately $1,146,000. I.G. Investment Management LTD. raised its position in shares of News Corp. by 9.4% in the second quarter. I.G. Investment Management LTD. now owns 14,107 shares of the company’s stock valued at $165,000 after buying an additional 1,208 shares during the last quarter. Aviva PLC raised its position in shares of News Corp. by 16.8% in the second quarter. Aviva PLC now owns 63,219 shares of the company’s stock valued at $738,000 after buying an additional 9,085 shares during the last quarter. California Public Employees Retirement System raised its position in shares of News Corp. by 0.9% in the second quarter. California Public Employees Retirement System now owns 278,600 shares of the company’s stock valued at $3,251,000 after buying an additional 2,600 shares during the last quarter. Finally, Utah Retirement Systems raised its position in shares of News Corp. by 2.3% in the second quarter. Utah Retirement Systems now owns 22,100 shares of the company’s stock valued at $258,000 after buying an additional 500 shares during the last quarter. Institutional investors and hedge funds own 10.56% of the company’s stock.
Shares of News Corp. (NASDAQ:NWS) traded up 0.64% during trading on Friday, reaching $14.22. 2,207,119 shares of the company traded hands. The stock has a market cap of $8.25 billion, a P/E ratio of 46.62 and a beta of 1.90. The stock’s 50 day moving average price is $14.22 and its 200-day moving average price is $13.04. News Corp. has a 12 month low of $10.74 and a 12 month high of $15.74.
The firm also recently announced a dividend, which will be paid on Wednesday, October 19th. Investors of record on Wednesday, September 14th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, September 12th. News Corp.’s payout ratio is 66.67%.
Separately, TheStreet raised shares of News Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, August 9th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. News Corp. has an average rating of “Buy” and an average price target of $18.00.
News Corp. Company Profile
News Corporation is a diversified media and information services company. The Company operates in five segments: News and Information Services, Cable Network Programming, Digital Real Estate Services, Book Publishing, and Other. The Company’s business consists of range of media, including news and information services, sports programming in Australia, digital real estate services, book publishing, and pay-television (TV) distribution in Australia, that are distributed under the brands, including The Wall Street Journal, Dow Jones, Herald Sun, The Sun, The Times, HarperCollins Publishers, FOX SPORTS Australia and realestate.com.au.
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