US Asset Management LLC Cuts Stake in News Co. (NASDAQ:NWS)

US Asset Management LLC cut its holdings in News Co. (NASDAQ:NWS) by 2.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,112 shares of the company’s stock after selling 710 shares during the period. US Asset Management LLC’s holdings in News were worth $826,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NWS. Metropolis Capital Ltd boosted its stake in News by 13.2% during the second quarter. Metropolis Capital Ltd now owns 842,235 shares of the company’s stock valued at $23,911,000 after buying an additional 98,172 shares during the last quarter. Norges Bank bought a new position in News during the fourth quarter valued at $7,919,000. BNP Paribas Financial Markets grew its stake in shares of News by 11.5% in the 1st quarter. BNP Paribas Financial Markets now owns 215,847 shares of the company’s stock worth $5,841,000 after buying an additional 22,287 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of News by 1.8% in the 4th quarter. Hsbc Holdings PLC now owns 171,282 shares of the company’s stock worth $4,408,000 after buying an additional 3,052 shares during the last quarter. Finally, Edgestream Partners L.P. raised its position in shares of News by 156.1% during the 1st quarter. Edgestream Partners L.P. now owns 156,547 shares of the company’s stock valued at $4,236,000 after buying an additional 95,429 shares in the last quarter. 14.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Loop Capital upgraded News to a “strong-buy” rating in a research report on Tuesday.

News Stock Up 0.8 %

NASDAQ NWS opened at $27.38 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.43 and a debt-to-equity ratio of 0.32. News Co. has a 52 week low of $20.01 and a 52 week high of $29.59. The firm has a market capitalization of $15.57 billion, a price-to-earnings ratio of 76.06 and a beta of 1.37. The company has a fifty day moving average of $28.32 and a two-hundred day moving average of $27.35.

News (NASDAQ:NWS) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.17 EPS for the quarter. The firm had revenue of $2.58 billion during the quarter. News had a net margin of 2.64% and a return on equity of 4.51%.

News Dividend Announcement

The firm also recently declared a Semi-Annual dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Wednesday, September 11th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a dividend yield of 0.7%. News’s payout ratio is 55.56%.

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