AXQ Capital LP Takes $981,000 Position in News Corporation $NWS

AXQ Capital LP acquired a new position in shares of News Corporation (NASDAQ:NWS) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 33,119 shares of the company’s stock, valued at approximately $981,000.

Several other institutional investors and hedge funds have also bought and sold shares of NWS. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of News by 2.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 17,032 shares of the company’s stock worth $588,000 after acquiring an additional 337 shares during the last quarter. Hartford Investment Management Co. increased its stake in shares of News by 5.4% in the fourth quarter. Hartford Investment Management Co. now owns 7,212 shares of the company’s stock valued at $214,000 after buying an additional 369 shares during the period. Bessemer Group Inc. increased its stake in shares of News by 15.5% in the third quarter. Bessemer Group Inc. now owns 3,027 shares of the company’s stock valued at $104,000 after buying an additional 406 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in shares of News by 2.3% in the second quarter. CANADA LIFE ASSURANCE Co now owns 19,333 shares of the company’s stock valued at $664,000 after buying an additional 435 shares during the period. Finally, Asset Management One Co. Ltd. increased its stake in shares of News by 11.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 4,454 shares of the company’s stock valued at $133,000 after buying an additional 440 shares during the period. Institutional investors own 14.63% of the company’s stock.

News Price Performance

News stock opened at $30.18 on Wednesday. The stock has a market capitalization of $16.52 billion, a price-to-earnings ratio of 15.02 and a beta of 0.87. News Corporation has a 52-week low of $25.49 and a 52-week high of $35.58. The stock’s 50 day moving average price is $29.44 and its two-hundred day moving average price is $28.98. 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 (NASDAQ:NWS) last issued its earnings results on Thursday, May 7th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.07. News had a return on equity of 6.12% and a net margin of 12.92%.The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.12 billion. On average, equities analysts predict that News Corporation will post 0.96 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Zacks Research downgraded shares of News from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Weiss Ratings downgraded shares of News from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, April 6th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold”.

About News

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.