Hsbc Holdings PLC Acquires 101,018 Shares of News Corporation $NWS

Hsbc Holdings PLC increased its holdings in News Corporation (NASDAQ:NWS) by 60.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 268,349 shares of the company’s stock after acquiring an additional 101,018 shares during the quarter. Hsbc Holdings PLC’s holdings in News were worth $7,971,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. NewEdge Advisors LLC purchased a new stake in News in the second quarter worth about $30,000. ExodusPoint Capital Management LP purchased a new position in shares of News during the fourth quarter valued at approximately $37,000. Arax Advisory Partners bought a new stake in shares of News in the 4th quarter worth approximately $47,000. Resona Asset Management Co. Ltd. grew its stake in shares of News by 69.0% in the 4th quarter. Resona Asset Management Co. Ltd. now owns 1,629 shares of the company’s stock worth $49,000 after buying an additional 665 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of News by 74.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,056 shares of the company’s stock worth $62,000 after buying an additional 878 shares during the last quarter. Institutional investors own 14.63% of the company’s stock.

News Stock Down 1.2%

Shares of News stock opened at $30.10 on Thursday. The company has a 50-day simple moving average of $29.89 and a two-hundred day simple moving average of $29.04. News Corporation has a 52-week low of $25.49 and a 52-week high of $35.58. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.59 and a current ratio of 1.70. The stock has a market capitalization of $16.48 billion, a PE ratio of 14.98 and a beta of 0.88.

News (NASDAQ:NWS) 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 $0.14 by $0.07. News had a net margin of 12.92% and a return on equity of 6.12%. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.12 billion. On average, analysts anticipate that News Corporation will post 0.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Weiss Ratings cut News from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, June 25th. Zacks Research raised News from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Buy”.

News Profile

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.