Louisiana State Employees Retirement System Makes New Investment in News Corporation $NWSA

Louisiana State Employees Retirement System acquired a new stake in shares of News Corporation (NASDAQ:NWSA) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 18,900 shares of the company’s stock, valued at approximately $471,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. CYBER HORNET ETFs LLC purchased a new position in News during the second quarter valued at $30,000. Caitong International Asset Management Co. Ltd purchased a new stake in News in the third quarter worth about $31,000. Advisory Services Network LLC bought a new position in shares of News in the third quarter worth about $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 in the last quarter. Finally, Global Retirement Partners LLC grew its stake 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 acquiring an additional 1,470 shares during the period. 66.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

News Stock Down 0.7%

Shares of NWSA opened at $26.72 on Thursday. The business’s 50 day moving average is $26.16 and its 200 day moving average is $25.45. The company has a market capitalization of $14.63 billion, a PE ratio of 13.29 and a beta of 0.89. News Corporation has a 12-month low of $22.20 and a 12-month high of $31.61. 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 (NASDAQ:NWSA) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.21 earnings per share for the quarter, topping 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 business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the prior year, the company posted $0.17 EPS. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. Research analysts expect that News Corporation will post 0.92 earnings per share for the current fiscal year.

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.