AlphaQuest LLC Acquires 39,260 Shares of News Corporation $NWSA

AlphaQuest LLC lifted its holdings in shares of News Corporation (NASDAQ:NWSA) by 67.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 97,494 shares of the company’s stock after purchasing an additional 39,260 shares during the period. AlphaQuest LLC’s holdings in News were worth $2,547,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd acquired a new position in shares of News during the third quarter valued at $31,000. CYBER HORNET ETFs LLC acquired a new position in shares of News during the second quarter valued at $30,000. Root Financial Partners LLC acquired a new position in shares of News during the third quarter valued at $35,000. Advisory Services Network LLC acquired a new position in shares of News during the third quarter valued at $35,000. Finally, Brown Brothers Harriman & Co. lifted its stake in shares of News by 154.5% during the third quarter. Brown Brothers Harriman & Co. now owns 1,285 shares of the company’s stock valued at $39,000 after acquiring an additional 780 shares during the period. Institutional investors own 66.97% of the company’s stock.

News Trading Up 1.2%

NASDAQ NWSA opened at $26.20 on Wednesday. The firm has a market cap of $14.34 billion, a P/E ratio of 13.03 and a beta of 0.89. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.70 and a quick ratio of 1.59. The stock’s 50-day moving average is $25.44 and its 200-day moving average is $25.39. News Corporation has a one year low of $22.20 and a one year high of $31.61.

News (NASDAQ:NWSA) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.05. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the firm posted $0.17 earnings per share. Sell-side analysts anticipate that News Corporation will post 0.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Zacks Research raised News from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 5th. Wall Street Zen raised News from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Citigroup cut 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 lowered News from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $34.00 target price on shares of News in a research note on Sunday, May 10th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, News presently has an average rating of “Moderate Buy” and an average target price of $37.14.

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.