38,071 Shares in News Corporation $NWSA Bought by OP Asset Management Ltd

OP Asset Management Ltd acquired a new stake in News Corporation (NASDAQ:NWSA) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 38,071 shares of the company’s stock, valued at approximately $949,000.

A number of other hedge funds also recently made changes to their positions in NWSA. State Street Corp grew its position in News by 16.5% during the third quarter. State Street Corp now owns 31,356,593 shares of the company’s stock valued at $965,673,000 after buying an additional 4,448,929 shares during the period. Independent Franchise Partners LLP raised its position in News by 4.0% in the fourth quarter. Independent Franchise Partners LLP now owns 29,934,048 shares of the company’s stock worth $781,877,000 after acquiring an additional 1,137,691 shares during the period. Barclays PLC boosted its stake in News by 39.5% in the third quarter. Barclays PLC now owns 14,875,615 shares of the company’s stock valued at $456,830,000 after acquiring an additional 4,214,562 shares during the last quarter. 59 North Capital Management LP grew its position in shares of News by 10.7% during the 3rd quarter. 59 North Capital Management LP now owns 14,009,242 shares of the company’s stock valued at $430,224,000 after acquiring an additional 1,358,375 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of News by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 10,458,034 shares of the company’s stock worth $272,169,000 after purchasing an additional 88,157 shares during the last quarter. 66.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

News Trading Down 0.6%

Shares of NWSA stock opened at $25.26 on Tuesday. The stock has a market capitalization of $13.83 billion, a price-to-earnings ratio of 12.57 and a beta of 0.88. The company’s fifty day simple moving average is $26.16 and its two-hundred day simple moving average is $25.44. News Corporation has a 1 year low of $22.20 and a 1 year high of $31.61. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.70 and a quick ratio of 1.59.

News (NASDAQ:NWSA) last posted 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. News had a return on equity of 6.12% and a net margin of 12.92%.The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same period last year, the company earned $0.17 earnings per share. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, analysts anticipate that News Corporation will post 0.92 earnings per share for the current year.

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.