Squarepoint Ops LLC Has $4.76 Million Position in News Corporation $NWSA

Squarepoint Ops LLC boosted its holdings in News Corporation (NASDAQ:NWSA) by 1,476.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 160,081 shares of the company’s stock after acquiring an additional 149,926 shares during the period. Squarepoint Ops LLC’s holdings in News were worth $4,758,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Patton Fund Management Inc. acquired a new position in News in the 2nd quarter valued at about $241,000. Cullen Frost Bankers Inc. bought a new stake in shares of News during the second quarter worth approximately $30,000. Resona Asset Management Co. Ltd. grew its position in shares of News by 3.6% in the second quarter. Resona Asset Management Co. Ltd. now owns 121,653 shares of the company’s stock valued at $3,610,000 after purchasing an additional 4,244 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of News by 379.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 111,960 shares of the company’s stock worth $3,330,000 after purchasing an additional 88,616 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in News by 34.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,450,150 shares of the company’s stock worth $121,133,000 after purchasing an additional 1,133,004 shares during the last quarter. 66.97% of the stock is currently owned by institutional investors and hedge funds.

News Stock Down 0.6%

NWSA stock opened at $26.05 on Tuesday. News Corporation has a 52 week low of $23.38 and a 52 week high of $31.61. The business has a 50-day simple moving average of $26.05 and a 200 day simple moving average of $28.13. The company has a quick ratio of 1.63, a current ratio of 1.76 and a debt-to-equity ratio of 0.21. The company has a market cap of $14.63 billion, a PE ratio of 12.58 and a beta of 0.97.

News (NASDAQ:NWSA) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.04. News had a net margin of 13.80% and a return on equity of 5.68%. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the prior year, the company posted $0.21 earnings per share. The business’s revenue for the quarter was down 16.8% on a year-over-year basis. Sell-side analysts anticipate that News Corporation will post 0.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Zacks Research lowered News from a “hold” rating to a “strong sell” rating in a report on Thursday, October 23rd. Guggenheim decreased their price target on shares of News from $45.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of News in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. decreased their target price on shares of News from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.95.

News Company Profile

News Corporation, a media and information services company, creates and distributes authoritative and engaging content, and other products and services for consumers and businesses worldwide. It operates through six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.