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

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Kestra Private Wealth Services LLC reduced its holdings in News Co. (NASDAQ:NWSAGet Rating) by 9.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor 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 quarter.

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

News Stock Down 0.5 %

NWSA stock opened at $16.46 on Wednesday. The stock’s fifty day simple moving average is $17.16 and its two-hundred day simple moving average is $18.27. The company has a current ratio of 1.16, a quick ratio of 1.07 and a debt-to-equity ratio of 0.30. News Co. has a 1-year low of $14.95 and a 1-year high of $25.86. 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 posted 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 for the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the previous year, the firm earned $0.16 earnings per share. The business’s revenue was up 7.4% on a year-over-year basis. Analysts expect that News Co. will post 0.99 EPS for the current year.

News Dividend Announcement

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

Insider Activity

In other news, General Counsel David B. Pitofsky sold 82,028 shares of the company’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $18.73, for a total transaction of $1,536,384.44. Following 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 13.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NWSA. downgraded 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 on the stock. in a research report on Thursday, July 28th. Finally, Guggenheim lifted their target price on News to $34.00 in a research report on Monday, August 15th.

About News

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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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