Kestra Private Wealth Services LLC Sells 1,508 Shares of News Co. (NASDAQ:NWSA)

Kestra Private Wealth Services LLC reduced its holdings in News Co. (NASDAQ:NWSAGet Rating) by 9.2% during the first quarter, Holdings Channel.com reports. The fund owned 14,829 shares of the company’s stock after selling 1,508 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in News were worth $328,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in NWSA. Covestor Ltd bought a new position in shares of News during the 4th quarter valued at about $28,000. CWM LLC increased its position in shares of News by 243.7% during the 1st quarter. CWM LLC now owns 2,571 shares of the company’s stock valued at $57,000 after purchasing an additional 1,823 shares during the last quarter. Maverick Capital Ltd. purchased a new stake in News during the 4th quarter valued at about $69,000. Quent Capital LLC purchased a new stake in News during the 4th quarter valued at about $70,000. Finally, Brown Brothers Harriman & Co. purchased a new stake in News during the 1st quarter valued at about $98,000. 64.40% of the stock is currently owned by institutional investors.

Insider Transactions at News

In other news, General Counsel David B. Pitofsky sold 82,028 shares of the stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $18.73, for a total value of $1,536,384.44. Following the completion of the transaction, the general counsel now owns 87,706 shares of the company’s stock, valued at approximately $1,642,733.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 13.73% of the company’s stock.

News Trading Down 0.5 %

NASDAQ NWSA opened at $16.46 on Wednesday. News Co. has a fifty-two week low of $14.95 and a fifty-two week high of $25.86. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.07 and a current ratio of 1.16. The stock has a 50 day simple moving average of $17.16 and a two-hundred day simple moving average of $18.27. The stock has a market cap of $9.57 billion, a P/E ratio of 15.53 and a beta of 1.29.

News (NASDAQ:NWSAGet Rating) last released its quarterly earnings data on Monday, August 8th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.22. News had a return on equity of 7.69% and a net margin of 6.00%. The business had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter last year, the business posted $0.16 EPS. The business’s revenue was up 7.4% on a year-over-year basis. On average, analysts forecast that News Co. will post 0.99 earnings per share for the current year.

News Dividend Announcement

The company also recently announced a Semi-Annual dividend, which will be paid on Wednesday, October 12th. Stockholders of record on Wednesday, September 14th will be given a $0.10 dividend. This represents a dividend yield of 1.1%. The ex-dividend date is Tuesday, September 13th. News’s dividend payout ratio is currently 18.87%.

Analysts Set New Price Targets

NWSA has been the subject of several analyst reports. StockNews.com cut News from a “buy” rating to a “hold” rating in a report on Wednesday, August 17th. Macquarie cut News from an “outperform” rating to a “neutral” rating and set a $21.10 target price for the company. in a report on Thursday, July 28th. Finally, Guggenheim increased their target price on News to $34.00 in a report on Monday, August 15th.

News Profile

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

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Institutional Ownership by Quarter for News (NASDAQ:NWSA)

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