Sei Investments Co. increased its stake in News Corporation (NASDAQ:NWSA – Free Report) by 120.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,326,616 shares of the company’s stock after acquiring an additional 1,272,083 shares during the quarter. Sei Investments Co. owned approximately 0.42% of News worth $58,002,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of NWSA. Swedbank AB boosted its holdings in shares of News by 77.3% in the fourth quarter. Swedbank AB now owns 192,326 shares of the company’s stock worth $5,024,000 after buying an additional 83,821 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of News by 14.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 823,989 shares of the company’s stock valued at $21,580,000 after acquiring an additional 102,259 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in News by 4.7% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 953,459 shares of the company’s stock worth $24,904,000 after purchasing an additional 42,795 shares during the period. Oak Thistle LLC acquired a new stake in News during the 4th quarter valued at $1,944,000. Finally, Metropolis Capital Ltd lifted its holdings in shares of News by 17.3% in the fourth quarter. Metropolis Capital Ltd now owns 6,991,257 shares of the company’s stock valued at $182,612,000 after purchasing an additional 1,031,659 shares in the last quarter. 66.97% of the stock is owned by hedge funds and other institutional investors.
News Price Performance
NWSA opened at $26.76 on Friday. The stock has a fifty day moving average price of $26.45 and a 200 day moving average price of $25.57. The company has a current ratio of 1.70, a quick ratio of 1.59 and a debt-to-equity ratio of 0.21. News Corporation has a 1 year low of $22.20 and a 1 year high of $31.61. The stock has a market cap of $14.65 billion, a price-to-earnings ratio of 13.31 and a beta of 0.89.
News (NASDAQ:NWSA – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.05. News had a return on equity of 6.12% and a net margin of 12.92%.The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period last year, the business earned $0.17 EPS. The business’s quarterly revenue was up 8.8% on a year-over-year basis. Analysts forecast that News Corporation will post 0.92 EPS for the current fiscal year.
Analyst Ratings Changes
A number of brokerages have recently weighed in on NWSA. Weiss Ratings upgraded News from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Morgan Stanley restated an “overweight” rating and set a $34.00 price objective on shares of News in a research report on Sunday, May 10th. Wall Street Zen raised News from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Zacks Research upgraded News from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. Finally, Citigroup reduced their price target on shares of News from $39.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $37.14.
Read Our Latest Stock Report on News
News Company Profile
News Corporation NASDAQ: NWSA is a global diversified media and information services company headquartered in New York City. It operates through two principal segments: News and Information Services, and Digital Real Estate Services. The company’s news and information division oversees a portfolio of leading newspapers, magazines and digital platforms, offering content across print and online channels. Its properties include Dow Jones, publisher of The Wall Street Journal and Barron’s, News UK titles such as The Times and The Sun, as well as News Corp Australia mastheads.
In addition to its journalism assets, News Corp is a significant player in book publishing through HarperCollins, one of the world’s largest consumer publishers.
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