Atomi Financial Group Inc. Grows Position in News Co. (NASDAQ:NWSA)

Atomi Financial Group Inc. increased its holdings in News Co. (NASDAQ:NWSA) by 11.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,578 shares of the company’s stock after acquiring an additional 1,095 shares during the quarter. Atomi Financial Group Inc.’s holdings in News were worth $292,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Fidelis Capital Partners LLC bought a new position in News in the first quarter worth $34,000. Principal Securities Inc. purchased a new position in News during the fourth quarter valued at $45,000. Covestor Ltd raised its position in shares of News by 125.8% in the 1st quarter. Covestor Ltd now owns 1,727 shares of the company’s stock worth $45,000 after purchasing an additional 962 shares during the last quarter. Family Firm Inc. bought a new position in News in the 2nd quarter worth about $73,000. Finally, Central Pacific Bank Trust Division bought a new position in News in the 1st quarter worth about $77,000. 66.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. upped their target price on shares of News from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th.

News Stock Up 0.5 %

Shares of NWSA stock traded up $0.15 during mid-day trading on Wednesday, hitting $28.13. The company’s stock had a trading volume of 241,503 shares, compared to its average volume of 2,717,222. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.25 and a current ratio of 1.36. News Co. has a 52-week low of $19.25 and a 52-week high of $28.62. The stock has a market cap of $16.03 billion, a price-to-earnings ratio of 77.72 and a beta of 1.33. The business has a 50-day moving average price of $27.45 and a 200 day moving average price of $26.41.

News (NASDAQ:NWSA) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. News had a return on equity of 4.28% and a net margin of 2.09%. The company had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter in the prior year, the business earned $0.14 earnings per share. News’s revenue for the quarter was up 5.9% compared to the same quarter last year. Research analysts predict that News Co. will post 0.67 EPS for the current fiscal year.

News Announces Dividend

The business also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Wednesday, September 11th will be paid a $0.10 dividend. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 11th. 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.