OMERS ADMINISTRATION Corp increased its holdings in News Corporation (NASDAQ:NWSA – Free Report) by 2,747.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 387,092 shares of the company’s stock after acquiring an additional 373,500 shares during the period. OMERS ADMINISTRATION Corp’s holdings in News were worth $10,111,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the business. State Street Corp grew its position in News by 16.5% in the third quarter. State Street Corp now owns 31,356,593 shares of the company’s stock worth $965,673,000 after acquiring an additional 4,448,929 shares during the period. Barclays PLC lifted its stake 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 purchasing an additional 4,214,562 shares in the last quarter. 59 North Capital Management LP lifted its stake in News by 10.7% during the third quarter. 59 North Capital Management LP now owns 14,009,242 shares of the company’s stock worth $430,224,000 after purchasing an additional 1,358,375 shares in the last quarter. Geode Capital Management LLC lifted its stake in News by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 10,458,034 shares of the company’s stock worth $272,169,000 after purchasing an additional 88,157 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in News by 11.7% during the third quarter. AQR Capital Management LLC now owns 9,072,194 shares of the company’s stock worth $278,607,000 after purchasing an additional 947,687 shares in the last quarter. 66.97% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have commented on the company. Morgan Stanley restated an “overweight” rating and set a $34.00 price target on shares of News in a research note on Sunday, May 10th. Zacks Research upgraded News from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 5th. Weiss Ratings upgraded News from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. Citigroup decreased their price target on News from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, May 13th. Finally, Wall Street Zen upgraded 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.14.
News Stock Up 0.1%
Shares of NASDAQ NWSA opened at $25.70 on Tuesday. The stock has a market cap of $14.07 billion, a P/E ratio of 12.79 and a beta of 0.88. 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 12-month low of $22.20 and a 12-month high of $31.61. The business’s fifty day simple moving average is $26.06 and its 200-day simple moving average is $25.46.
News (NASDAQ:NWSA – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.05. The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.11 billion. News had a return on equity of 6.12% and a net margin of 12.92%.The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period last year, the firm earned $0.17 earnings per share. As a group, equities analysts predict that News Corporation will post 0.92 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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