BI Asset Management Fondsmaeglerselskab A S Grows Stake in News Corporation $NWSA

BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of News Corporation (NASDAQ:NWSA) by 153.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 61,934 shares of the company’s stock after acquiring an additional 37,512 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in News were worth $1,544,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. CYBER HORNET ETFs LLC purchased a new position in News in the second quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd purchased a new stake in News in the third quarter worth $31,000. Advisory Services Network LLC bought a new stake in shares of News in the third quarter valued at $35,000. Brown Brothers Harriman & Co. lifted its position in shares of News by 154.5% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,285 shares of the company’s stock valued at $39,000 after buying an additional 780 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its position in shares of News by 561.1% during the 4th quarter. Global Retirement Partners LLC now owns 1,732 shares of the company’s stock valued at $45,000 after buying an additional 1,470 shares during the last quarter. Institutional investors own 66.97% of the company’s stock.

News Stock Up 1.1%

Shares of NASDAQ NWSA opened at $25.27 on Thursday. News Corporation has a 52 week low of $22.20 and a 52 week high of $31.61. The business has a 50-day simple moving average of $26.17 and a two-hundred day simple moving average of $25.45. The company has a quick ratio of 1.59, a current ratio of 1.70 and a debt-to-equity ratio of 0.21. The company has a market cap of $13.83 billion, a P/E ratio of 12.57 and a beta of 0.88.

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Morgan Stanley reissued an “overweight” rating and issued a $34.00 price objective on shares of News in a report on Sunday, May 10th. Wall Street Zen raised shares of News from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Weiss Ratings upgraded shares of News from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. Zacks Research raised shares of News from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 5th. Finally, Citigroup cut their price objective on shares of News from $39.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, News currently has an average rating of “Moderate Buy” and an average target price of $37.14.

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.