ABC Arbitrage SA Makes New Investment in News Co. (NASDAQ:NWS)

ABC Arbitrage SA acquired a new position in News Co. (NASDAQ:NWS) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 7,211 shares of the company’s stock, valued at approximately $219,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Wilmington Savings Fund Society FSB boosted its stake in shares of News by 123.7% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 935 shares of the company’s stock worth $28,000 after purchasing an additional 517 shares during the period. Blue Trust Inc. boosted its stake in shares of News by 253.3% during the 3rd quarter. Blue Trust Inc. now owns 2,021 shares of the company’s stock worth $57,000 after purchasing an additional 1,449 shares during the period. Asset Management One Co. Ltd. boosted its stake in shares of News by 22.9% during the 4th quarter. Asset Management One Co. Ltd. now owns 2,668 shares of the company’s stock worth $82,000 after purchasing an additional 497 shares during the period. Point72 DIFC Ltd purchased a new position in shares of News during the 3rd quarter worth about $86,000. Finally, Glenmede Trust Co. NA boosted its stake in shares of News by 27.7% during the 3rd quarter. Glenmede Trust Co. NA now owns 3,520 shares of the company’s stock worth $98,000 after purchasing an additional 763 shares during the period. 14.63% of the stock is owned by hedge funds and other institutional investors.

News Trading Up 1.6 %

Shares of NWS opened at $34.86 on Friday. News Co. has a 1-year low of $23.99 and a 1-year high of $34.97. The company has a 50-day moving average of $31.51 and a 200 day moving average of $29.89. The firm has a market capitalization of $19.82 billion, a price-to-earnings ratio of 47.75 and a beta of 1.38. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.73 and a quick ratio of 1.26.

News (NASDAQ:NWS) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). News had a net margin of 4.22% and a return on equity of 5.31%. On average, research analysts expect that News Co. will post 0.96 EPS for the current year.

News Dividend Announcement

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 12th will be issued a $0.10 dividend. The ex-dividend date is Wednesday, March 12th. This represents a dividend yield of 0.6%. News’s dividend payout ratio is currently 27.40%.

Analysts Set New Price Targets

Separately, Seaport Res Ptn raised shares of News to a “strong-buy” rating in a research note on Friday, January 31st.

About News

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.