News Corp (NASDAQ:NWSA)'s Chief Accounting Officer, Marygrace DeGrazio, has engaged in significant stock transactions, according to a recent filing. On August 15, DeGrazio sold a total of 9,918 shares of Class A Common Stock on the NASDAQ:NWS, netting $271,852 at an average price of $27.41 per share.
In addition to the sale, DeGrazio acquired shares through incentives. The executive received a total of 15,002 shares of Class A Common Stock, valued at $0 due to the nature of the transaction as part of stock-settled restricted stock units. These transactions are part of the company's long-term equity incentive program, which aims to align the interests of its executives with those of the shareholders.
Furthermore, DeGrazio disposed of shares to cover tax withholding obligations upon vesting of incentive awards. This resulted in a total of $166,214 worth of shares being withheld at a price of $27.32 each. The total number of shares withheld for tax obligations amounted to 6,084.
Post these transactions, the updated holding of DeGrazio in News Corp's Class A Common Stock stands at 21,722 shares. This series of transactions reflects the ongoing adjustments made by executives in managing their stock-based compensation and tax liabilities.
Investors often monitor such filings for insights into executive sentiment and potential future performance of a company's stock. News Corp, with its diverse portfolio of news, book publishing, digital real estate services, and more, remains a closely watched entity in the media industry.
In other recent news, News Corp ended its fiscal year 2024 on a high note, reporting record profitability in Q4. The company's revenues increased by 6%, amounting to nearly $2.6 billion, while profitability surged by 11% to $380 million. This growth was fueled by the company's book publishing, digital real estate services, and Dow Jones segments. News Corp also announced its collaboration with OpenAI as part of its digital expansion strategy for fiscal 2025.
In addition to these recent developments, News Corp is considering legal action against advertising industry bodies and is reviewing strategic options for the Foxtel Group. The company acknowledged challenges in the U.K. digital advertising market due to platform algorithm changes. The digital real estate services segment witnessed a 21% revenue increase, while Dow Jones grew by 4%, and HarperCollins' EBITDA rose by a notable 250%.
Looking ahead, News Corp anticipates improvements across its segments in fiscal 2025. The company aims to continue its digital expansion, pursue cost efficiencies, and explore new revenue opportunities. The partnership with OpenAI and the London Stock Exchange Group (LON:LSEG) are expected to drive this future growth.
InvestingPro Insights
As News Corp's Chief Accounting Officer, Marygrace DeGrazio, navigates through stock transactions, investors are keeping a keen eye on the company's financial health and market performance. According to recent data from InvestingPro, News Corp (NASDAQ:NWS) boasts a market capitalization of $16.14 billion, indicating its significant presence in the media industry.
InvestingPro Tips suggest that News Corp's Price/Earnings (P/E) Ratio, standing at 58.82, may reflect investor expectations of future growth, despite it being higher than the industry average. The adjusted P/E ratio for the last twelve months as of Q4 2024 is lower at 44.65, hinting at a potential improvement in earnings. Additionally, the PEG Ratio of 0.76 for the same period suggests that the company's stock price may be undervalued relative to its earnings growth, making it a point of interest for value investors.
From a profitability standpoint, News Corp reported a Gross Profit Margin of 50.41% for the last twelve months as of Q4 2024, demonstrating a strong ability to control costs relative to revenue. The company's revenue growth of 5.92% in Q4 2024, on a quarterly basis, coupled with a year-to-date price total return of 11.29%, may signal a positive trajectory for the company's financial performance and stock value appreciation.
InvestingPro contains a total of 15 additional tips for News Corp, offering deeper insights for investors seeking to understand the company's potential. The InvestingPro Fair Value estimate of $23.5 for News Corp's stock provides a benchmark for investors to gauge whether the current market price aligns with analyst valuations.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.