Metropolis Capital Ltd Has $180.53 Million Stock Position in News Co. (NASDAQ:NWSA)

Metropolis Capital Ltd lifted its holdings in News Co. (NASDAQ:NWSA) by 8.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 6,779,137 shares of the company’s stock after acquiring an additional 555,789 shares during the quarter. News accounts for about 6.2% of Metropolis Capital Ltd’s holdings, making the stock its 9th biggest holding. Metropolis Capital Ltd owned approximately 1.19% of News worth $180,528,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in NWSA. International Assets Investment Management LLC bought a new stake in News during the 2nd quarter valued at $26,000. Acadian Asset Management LLC raised its holdings in News by 95.1% in the 2nd quarter. Acadian Asset Management LLC now owns 1,038 shares of the company’s stock worth $28,000 after purchasing an additional 506 shares in the last quarter. Fidelis Capital Partners LLC bought a new position in News in the 1st quarter worth $34,000. Covestor Ltd raised its holdings in News by 125.8% in the 1st quarter. Covestor Ltd now owns 1,727 shares of the company’s stock worth $45,000 after purchasing an additional 962 shares in the last quarter. Finally, Innealta Capital LLC bought a new position in News in the 2nd quarter worth $46,000. 66.97% of the stock is currently owned by institutional investors.

News Price Performance

NWSA opened at $26.11 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.33 and a current ratio of 1.43. The stock has a market capitalization of $14.85 billion, a P/E ratio of 56.76 and a beta of 1.34. The company’s 50-day simple moving average is $26.76 and its two-hundred day simple moving average is $26.53. News Co. has a 52-week low of $20.11 and a 52-week high of $28.62.

News (NASDAQ:NWSA) last posted its earnings results on Thursday, August 8th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.01. News had a net margin of 2.64% and a return on equity of 4.51%. The business had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter in the prior year, the business earned $0.14 EPS. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, analysts predict that News Co. will post 0.85 EPS for the current year.

News Dividend Announcement

The firm also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, October 9th. Stockholders of record on Wednesday, September 11th were paid a $0.10 dividend. This represents a dividend yield of 0.7%. The ex-dividend date was Wednesday, September 11th. News’s dividend payout ratio (DPR) is presently 43.48%.

Analysts Set New Price Targets

Several research analysts have commented on NWSA shares. Loop Capital upped their price objective on shares of News from $38.00 to $39.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. JPMorgan Chase & Co. increased their price objective on shares of News from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Four research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $38.00.

News Profile

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.