Glenmede Trust Co. NA increased its stake in News Corporation (NASDAQ:NWSA – Free Report) by 328.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 372,518 shares of the company’s stock after acquiring an additional 285,472 shares during the quarter. Glenmede Trust Co. NA owned about 0.07% of News worth $9,287,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Swedbank AB increased its position in shares of 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 during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in News by 14.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 823,989 shares of the company’s stock valued at $21,580,000 after buying an additional 102,259 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in News by 4.7% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 953,459 shares of the company’s stock valued at $24,904,000 after acquiring an additional 42,795 shares during the last quarter. Oak Thistle LLC acquired a new stake in News during the 4th quarter worth about $1,944,000. Finally, Sei Investments Co. grew its holdings in News by 120.6% during the 1st quarter. Sei Investments Co. now owns 2,326,616 shares of the company’s stock worth $58,002,000 after acquiring an additional 1,272,083 shares during the period. Institutional investors and hedge funds own 66.97% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on NWSA. Morgan Stanley reissued an “overweight” rating and issued a $34.00 price objective on shares of News in a research note on Sunday, May 10th. Zacks Research upgraded News from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. Weiss Ratings raised News from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Wall Street Zen upgraded News from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, Citigroup lowered their price objective on shares of News from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $37.14.
News Stock Up 1.4%
Shares of NASDAQ:NWSA opened at $27.94 on Tuesday. 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 52-week low of $22.20 and a 52-week high of $31.61. The business’s 50 day simple moving average is $26.69 and its two-hundred day simple moving average is $25.63. The firm has a market cap of $15.30 billion, a P/E ratio of 13.90 and a beta of 0.88.
News (NASDAQ:NWSA – Get Free Report) last issued its 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 for the quarter, compared to analyst estimates of $2.11 billion. During the same period in the prior year, the firm earned $0.17 earnings per share. News’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, research analysts forecast that News Corporation will post 1.06 EPS for the current fiscal year.
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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