Highbridge Capital Management LLC increased its position in shares of News Corporation (NASDAQ:NWSA – Free Report) by 12.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 727,579 shares of the company’s stock after buying an additional 81,947 shares during the quarter. Highbridge Capital Management LLC’s holdings in News were worth $19,004,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Swedbank AB grew its position in News by 77.3% during 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 in the last quarter. Barclays PLC grew its position in News by 39.5% during the third quarter. Barclays PLC now owns 14,875,615 shares of the company’s stock worth $456,830,000 after buying an additional 4,214,562 shares in the last quarter. JPMorgan Chase & Co. grew its position in News by 22.9% during the third quarter. JPMorgan Chase & Co. now owns 1,770,946 shares of the company’s stock worth $54,389,000 after buying an additional 330,513 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in News by 14.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 823,989 shares of the company’s stock worth $21,580,000 after buying an additional 102,259 shares in the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new stake in News during the third quarter worth about $8,799,000. Hedge funds and other institutional investors own 66.97% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on NWSA shares. Zacks Research raised News from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 5th. Weiss Ratings raised News from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 27th. Morgan Stanley reissued an “overweight” rating and set a $34.00 target price 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 report on Saturday, May 16th. Finally, Citigroup decreased their target price on News from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, News has an average rating of “Moderate Buy” and an average price target of $37.14.
News Stock Up 1.6%
Shares of NWSA opened at $27.26 on Friday. The stock has a market cap of $14.92 billion, a price-to-earnings ratio of 13.56 and a beta of 0.88. The company has a quick ratio of 1.59, a current ratio of 1.70 and a debt-to-equity ratio of 0.21. News Corporation has a 12 month low of $22.20 and a 12 month high of $31.61. The company has a 50-day moving average price of $25.83 and a two-hundred day moving average price of $25.41.
News (NASDAQ:NWSA – Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.05. The firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.11 billion. News had a net margin of 12.92% and a return on equity of 6.12%. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.17 earnings per share. Equities analysts predict that News Corporation will post 0.92 EPS for the current fiscal year.
News 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.
Recommended Stories
- Five stocks we like better than News
- AI Server Earnings: Wall Street Sees One Clear Standout
- Navitas: NVIDIA’s AI Power Broker?
- A Lulu of a Miss Sends Lululemon to New Lows—Look Out Below
- NVIDIA’s New Power Play: Why Fluence Is Surging
Want to see what other hedge funds are holding NWSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for News Corporation (NASDAQ:NWSA – Free Report).
Receive News & Ratings for News Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for News and related companies with MarketBeat.com's FREE daily email newsletter.
