Metropolis Capital Ltd Sells 625,918 Shares of News Corporation $NWSA

Metropolis Capital Ltd lessened its stake in shares of News Corporation (NASDAQ:NWSA) by 6.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,566,187 shares of the company’s stock after selling 625,918 shares during the quarter. News makes up 6.8% of Metropolis Capital Ltd’s holdings, making the stock its 7th biggest holding. Metropolis Capital Ltd’s holdings in News were worth $245,421,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Commonwealth Financial Services LLC lifted its stake in shares of News by 27.2% in the 3rd quarter. Commonwealth Financial Services LLC now owns 16,319 shares of the company’s stock valued at $468,000 after acquiring an additional 3,485 shares during the last quarter. Kaufman Rossin Wealth LLC acquired a new stake in shares of News during the 3rd quarter valued at $223,000. SteelPeak Wealth LLC bought a new stake in News during the 3rd quarter worth $420,000. IFP Advisors Inc grew its position in News by 104.3% during the 3rd quarter. IFP Advisors Inc now owns 7,524 shares of the company’s stock worth $216,000 after acquiring an additional 3,842 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC increased its holdings in News by 207.9% in the 3rd quarter. Counterpoint Mutual Funds LLC now owns 34,505 shares of the company’s stock worth $989,000 after purchasing an additional 23,297 shares in the last quarter. 66.97% of the stock is currently owned by institutional investors and hedge funds.

News Trading Up 1.5%

Shares of News stock traded up $0.46 during trading on Tuesday, hitting $30.52. The company’s stock had a trading volume of 918,064 shares, compared to its average volume of 4,379,192. The stock has a market cap of $16.51 billion, a price-to-earnings ratio of 29.67 and a beta of 0.97. News Corporation has a 52 week low of $22.20 and a 52 week high of $31.66. The stock has a 50-day moving average price of $29.63 and a two-hundred day moving average price of $27.57. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.62 and a quick ratio of 1.51.

News (NASDAQ:NWSA) last announced its earnings results on Wednesday, August 5th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.14. The business had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.25 billion. News had a return on equity of 7.09% and a net margin of 6.35%. News’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the company earned $0.19 EPS. Equities research analysts anticipate that News Corporation will post 1.31 EPS for the current fiscal year.

News Announces Dividend

The business also recently declared a dividend, which was paid on Wednesday, October 7th. Shareholders of record on Wednesday, September 9th were given a $0.10 dividend. This represents a dividend yield of 68.0%. The ex-dividend date was Wednesday, September 9th. News’s payout ratio is 19.42%.

Analyst Ratings Changes

Several equities analysts have commented on NWSA shares. Zacks Research downgraded News from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. Morgan Stanley restated an “overweight” rating and set a $35.00 price target on shares of News in a report on Thursday, August 6th. JPMorgan Chase & Co. upped their price objective on News from $36.00 to $38.00 and gave the company an “overweight” rating in a research note on Friday, August 21st. Wall Street Zen upgraded shares of News from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 3rd. Finally, Weiss Ratings upgraded shares of News from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, October 12th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $37.80.

About News

News Corp is a global media and information-services company whose Class A common stock trades on the Nasdaq under the symbol NWSA. The company operates a portfolio of businesses spanning digital and print publishing, subscription products, professional information, real estate services and book publishing.

Its principal businesses include Dow Jones, which provides financial news, data, research and professional information through publications such as The Wall Street Journal and Barron’s; News Corp Australia and News UK, which operate newspapers and digital news platforms; and HarperCollins Publishers, which publishes fiction, nonfiction, educational and religious titles.