Mint Tower Capital Management B.V. Takes $640,000 Position in News Co. (NASDAQ:NWSA)

Mint Tower Capital Management B.V. acquired a new position in News Co. (NASDAQ:NWSA) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 23,256 shares of the company’s stock, valued at approximately $640,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Natixis Advisors LLC raised its position in shares of News by 6.4% in the third quarter. Natixis Advisors LLC now owns 32,588 shares of the company’s stock valued at $868,000 after purchasing an additional 1,965 shares during the period. Pathstone Holdings LLC raised its holdings in News by 1.2% during the 3rd quarter. Pathstone Holdings LLC now owns 60,509 shares of the company’s stock valued at $1,612,000 after acquiring an additional 730 shares during the period. Intech Investment Management LLC purchased a new stake in shares of News during the third quarter worth $358,000. Citigroup Inc. boosted its holdings in shares of News by 1.2% in the third quarter. Citigroup Inc. now owns 571,280 shares of the company’s stock worth $15,213,000 after acquiring an additional 6,786 shares during the period. Finally, Cerity Partners LLC grew its position in shares of News by 55.9% in the third quarter. Cerity Partners LLC now owns 91,620 shares of the company’s stock valued at $2,440,000 after purchasing an additional 32,866 shares in the last quarter. 66.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NWSA has been the subject of several analyst reports. Citigroup began coverage on News in a research note on Friday, January 10th. They issued a “buy” rating and a $36.00 target price for the company. Seaport Res Ptn raised shares of News to a “strong-buy” rating in a research note on Friday, January 31st. UBS Group upgraded shares of News from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 4th. Guggenheim boosted their price target on shares of News from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Finally, Loop Capital lowered their price objective on News from $44.00 to $41.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $39.25.

News Stock Performance

News stock opened at $27.47 on Thursday. News Co. has a fifty-two week low of $22.65 and a fifty-two week high of $30.69. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.65 and a current ratio of 1.73. The stock has a market cap of $15.59 billion, a P/E ratio of 37.63 and a beta of 1.34. The firm’s fifty day moving average price is $28.16 and its 200-day moving average price is $27.78.

News (NASDAQ:NWSA) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.04. News had a return on equity of 5.31% and a net margin of 4.22%. On average, equities research analysts expect that News Co. will post 0.94 earnings per share for the current fiscal year.

News Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend is Wednesday, March 12th. News’s dividend payout ratio (DPR) is presently 27.40%.

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.