59 North Capital Management LP decreased its position in shares of News Corporation (NASDAQ:NWSA – Free Report) by 7.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,964,234 shares of the company’s stock after selling 1,045,008 shares during the quarter. News accounts for about 10.5% of 59 North Capital Management LP’s holdings, making the stock its 3rd biggest position. 59 North Capital Management LP’s holdings in News were worth $338,626,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. CYBER HORNET ETFs LLC purchased a new stake in News in the 2nd quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd purchased a new stake in News in the 3rd quarter valued at approximately $31,000. Advisory Services Network LLC purchased a new stake in News in the 3rd quarter valued at approximately $35,000. Brown Brothers Harriman & Co. lifted its stake in News by 154.5% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,285 shares of the company’s stock valued at $39,000 after buying an additional 780 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its stake in News by 561.1% in the 4th quarter. Global Retirement Partners LLC now owns 1,732 shares of the company’s stock valued at $45,000 after buying an additional 1,470 shares in the last quarter. Hedge funds and other institutional investors own 66.97% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently issued reports on NWSA. Citigroup reduced their target price on News from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, May 13th. Weiss Ratings raised News from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. Zacks Research raised News from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 5th. Morgan Stanley reaffirmed an “overweight” rating and issued a $34.00 target price on shares of News in a research note on Sunday, May 10th. Finally, Wall Street Zen raised News from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.14.
News Trading Up 0.2%
Shares of NWSA opened at $25.98 on Thursday. The stock has a fifty day moving average of $26.12 and a two-hundred day moving average of $25.47. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.59 and a current ratio of 1.70. The company has a market capitalization of $14.22 billion, a PE ratio of 12.93 and a beta of 0.88. News Corporation has a fifty-two week low of $22.20 and a fifty-two week high of $31.61.
News (NASDAQ:NWSA – Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.05. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.11 billion. News had a return on equity of 6.12% and a net margin of 12.92%.News’s revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.17 EPS. As a group, analysts forecast that News Corporation will post 0.92 EPS for the current year.
About News
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.
Further Reading
- Five stocks we like better than News
- Cheap Thrills: Why These 3 Entertainment Stocks Are Soaring
- CoreWeave Insider Sales Look Big, But Should Investors Worry?
- Critical Metals: Sizing Up This Tiny Rare-Earth Stock Making Big Moves
- Meta and Cloud Computing: Real Potential, or a Shot in the Dark?
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.
