News Corp. (NASDAQ:NWS) CFO Bedi Ajay Singh sold 29,857 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $14.39, for a total transaction of $429,642.23. Following the sale, the chief financial officer now owns 33,667 shares of the company’s stock, valued at $484,468.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of News Corp. (NASDAQ:NWS) traded down 2.85% during trading on Friday, reaching $14.65. 363,308 shares of the company’s stock traded hands. The company has a 50 day moving average price of $14.31 and a 200-day moving average price of $13.10. The stock has a market cap of $8.50 billion, a P/E ratio of 48.03 and a beta of 1.90. News Corp. has a one year low of $10.74 and a one year high of $15.74.
The company also recently disclosed a dividend, which will be paid on Wednesday, October 19th. Stockholders of record on Wednesday, September 14th will be paid a dividend of $0.10 per share. The ex-dividend date is Monday, September 12th. News Corp.’s payout ratio is 66.67%.
Separately, TheStreet upgraded shares of News Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, August 9th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. News Corp. presently has an average rating of “Buy” and an average price target of $18.00.
Several large investors have recently modified their holdings of NWS. State Street Corp boosted its stake in shares of News Corp. by 6.1% in the first quarter. State Street Corp now owns 3,604,377 shares of the company’s stock worth $47,759,000 after buying an additional 207,473 shares during the last quarter. Hartford Investment Management Co. boosted its stake in shares of News Corp. by 5.5% in the second quarter. Hartford Investment Management Co. now owns 23,921 shares of the company’s stock worth $279,000 after buying an additional 1,241 shares during the last quarter. UBS Group AG boosted its stake in shares of News Corp. by 654.9% in the first quarter. UBS Group AG now owns 49,090 shares of the company’s stock worth $650,000 after buying an additional 42,587 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in shares of News Corp. during the second quarter worth approximately $4,596,000. Finally, Aviva PLC boosted its stake in shares of News Corp. by 0.6% in the first quarter. Aviva PLC now owns 54,134 shares of the company’s stock worth $717,000 after buying an additional 303 shares during the last quarter. 10.56% of the stock is currently owned by institutional investors and hedge funds.
About News Corp.
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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