Sumitomo Mitsui Trust Group Inc. lowered its holdings in shares of News Corporation (NASDAQ:NWS – Free Report) by 45.9% in the 1st quarter, Holdings Channel.com reports. The fund owned 24,855 shares of the company’s stock after selling 21,110 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in News were worth $709,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of NWS. New York State Teachers Retirement System lifted its stake in News by 217.3% in the first quarter. New York State Teachers Retirement System now owns 15,308 shares of the company’s stock valued at $436,000 after buying an additional 10,483 shares during the period. Optas LLC bought a new stake in shares of News in the 1st quarter valued at $354,000. Metropolis Capital Ltd lifted its position in shares of News by 18.7% during the 1st quarter. Metropolis Capital Ltd now owns 1,035,141 shares of the company’s stock valued at $29,512,000 after acquiring an additional 163,356 shares during the period. Ground Swell Capital LLC bought a new position in News during the first quarter worth $234,000. Finally, Hsbc Holdings PLC grew its holdings in News by 60.4% in the fourth quarter. Hsbc Holdings PLC now owns 268,349 shares of the company’s stock worth $7,971,000 after purchasing an additional 101,018 shares during the period. 14.63% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on NWS shares. Weiss Ratings upgraded News from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Zacks Research raised shares of News from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to MarketBeat.com, News has a consensus rating of “Strong Buy”.
News Trading Up 2.8%
News stock opened at $32.54 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.59 and a current ratio of 1.70. News Corporation has a fifty-two week low of $25.49 and a fifty-two week high of $35.58. The stock has a market cap of $17.81 billion, a P/E ratio of 16.19 and a beta of 0.88. The firm’s fifty day moving average price is $30.04 and its 200-day moving average price is $29.11.
News (NASDAQ:NWS – Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.07. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.12 billion. News had a net margin of 12.92% and a return on equity of 6.12%. Equities research analysts forecast that News Corporation will post 0.96 earnings per share for the current fiscal year.
News Profile
News Corporation (NASDAQ: NWS) is a global media and information services company engaged in news and digital real estate, book publishing and other media businesses. The company’s operations include print and digital newsbrands, business and financial information services, consumer platforms for property listings, and a major book publishing arm. Through its subsidiaries and brands, News Corp produces news content, market and financial reporting, online real-estate marketplaces and trade and consumer publishing products.
Key areas of activity include news and information, where the company publishes national and regional newspapers and operates business information services; book publishing through a well-known global publisher; and property-related digital businesses that operate online marketplaces for real estate listings.
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