Aristeia Capital L.L.C. Buys 663,165 Shares of News Corporation $NWSA

Aristeia Capital L.L.C. lifted its stake in News Corporation (NASDAQ:NWSA) by 481.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 801,012 shares of the company’s stock after buying an additional 663,165 shares during the period. News makes up approximately 0.5% of Aristeia Capital L.L.C.’s investment portfolio, making the stock its 26th biggest position. Aristeia Capital L.L.C. owned about 0.14% of News worth $20,922,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NWSA. CYBER HORNET ETFs LLC bought a new stake in News during the second quarter worth $30,000. Caitong International Asset Management Co. Ltd acquired a new stake in News in the third quarter valued at $31,000. Advisory Services Network LLC acquired a new stake in News in the third quarter valued at $35,000. Brown Brothers Harriman & Co. boosted its position in 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 last quarter. Finally, Global Retirement Partners LLC boosted its position in News by 561.1% during the fourth quarter. Global Retirement Partners LLC now owns 1,732 shares of the company’s stock valued at $45,000 after acquiring an additional 1,470 shares during the last quarter. 66.97% of the stock is currently owned by institutional investors.

News Stock Up 0.2%

News stock opened at $25.98 on Thursday. The firm has a 50 day simple moving average of $26.12 and a 200 day simple moving average of $25.47. 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 1-year low of $22.20 and a 1-year high of $31.61. The firm has a market capitalization of $14.22 billion, a price-to-earnings ratio of 12.93 and a beta of 0.88.

News (NASDAQ:NWSA) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.16 by $0.05. News had a net margin of 12.92% and a return on equity of 6.12%. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period last year, the firm earned $0.17 EPS. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, analysts predict that News Corporation will post 0.92 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wall Street Zen raised shares of News from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Zacks Research raised shares of News from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 5th. Morgan Stanley reiterated an “overweight” rating and issued a $34.00 price objective on shares of News in a research note on Sunday, May 10th. Citigroup decreased 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. Finally, Weiss Ratings upgraded shares of News from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, News currently has an average rating of “Moderate Buy” and a consensus price target of $37.14.

News 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.