Envestnet Asset Management Inc. Grows Stock Holdings in News Corporation $NWS

Envestnet Asset Management Inc. grew its holdings in News Corporation (NASDAQ:NWS) by 10.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 267,335 shares of the company’s stock after acquiring an additional 25,744 shares during the period. Envestnet Asset Management Inc.’s holdings in News were worth $9,236,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. NewEdge Advisors LLC purchased a new stake in News during the second quarter valued at approximately $30,000. Assetmark Inc. increased its position in shares of News by 572.8% during the 2nd quarter. Assetmark Inc. now owns 1,803 shares of the company’s stock valued at $62,000 after purchasing an additional 1,535 shares during the last quarter. Mufg Securities Americas Inc. raised its holdings in News by 24.9% during the 2nd quarter. Mufg Securities Americas Inc. now owns 2,470 shares of the company’s stock valued at $85,000 after buying an additional 493 shares during the period. EverSource Wealth Advisors LLC boosted its stake in News by 226.3% during the second quarter. EverSource Wealth Advisors LLC now owns 2,907 shares of the company’s stock worth $100,000 after buying an additional 2,016 shares during the period. Finally, Asset Management One Co. Ltd. boosted its stake in News by 13.0% during the second quarter. Asset Management One Co. Ltd. now owns 3,628 shares of the company’s stock worth $124,000 after buying an additional 418 shares during the period. 14.63% of the stock is currently owned by hedge funds and other institutional investors.

News Stock Performance

Shares of NWS opened at $26.19 on Friday. The company has a current ratio of 1.81, a quick ratio of 1.69 and a debt-to-equity ratio of 0.20. The firm has a market cap of $14.55 billion, a PE ratio of 12.90 and a beta of 0.97. News Corporation has a 12 month low of $25.49 and a 12 month high of $35.58. The stock has a fifty day moving average price of $29.28 and a 200-day moving average price of $30.75.

News (NASDAQ:NWS) last released its quarterly earnings results on Thursday, February 5th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.15. News had a return on equity of 5.94% and a net margin of 13.35%.The company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Equities research analysts predict that News Corporation will post 1.03 earnings per share for the current fiscal year.

News Dividend Announcement

The business also recently announced a dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 11th will be paid a $0.10 dividend. The ex-dividend date is Wednesday, March 11th. This represents a yield of 73.0%. News’s dividend payout ratio (DPR) is 9.85%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NWS. Zacks Research upgraded shares of News from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. Weiss Ratings raised shares of News from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Strong Buy”.

About News

News Corporation (NASDAQ: NWS) is a global media and information services company engaged in news and digital real estate, book publishing and other media businesses. The company’s operations include print and digital newsbrands, business and financial information services, consumer platforms for property listings, and a major book publishing arm. Through its subsidiaries and brands, News Corp produces news content, market and financial reporting, online real-estate marketplaces and trade and consumer publishing products.

Key areas of activity include news and information, where the company publishes national and regional newspapers and operates business information services; book publishing through a well-known global publisher; and property-related digital businesses that operate online marketplaces for real estate listings.