Chicago Partners Investment Group LLC Makes New Investment in News Corporation $NWSA

Chicago Partners Investment Group LLC purchased a new stake in News Corporation (NASDAQ:NWSA) during the 1st quarter, Holdings Channel reports. The fund purchased 20,040 shares of the company’s stock, valued at approximately $534,000.

Other hedge funds have also modified their holdings of the company. Swedbank AB grew its holdings in News by 77.3% during the 4th quarter. Swedbank AB now owns 192,326 shares of the company’s stock valued at $5,024,000 after buying an additional 83,821 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of News by 14.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 823,989 shares of the company’s stock worth $21,580,000 after acquiring an additional 102,259 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in shares of News in the third quarter worth $8,799,000. JPMorgan Chase & Co. lifted its position in shares of News by 22.9% in the third quarter. JPMorgan Chase & Co. now owns 1,770,946 shares of the company’s stock valued at $54,389,000 after acquiring an additional 330,513 shares in the last quarter. Finally, Avanza Fonder AB boosted its stake in shares of News by 98.3% during the fourth quarter. Avanza Fonder AB now owns 50,153 shares of the company’s stock valued at $1,310,000 after acquiring an additional 24,862 shares during the last quarter. 66.97% of the stock is owned by hedge funds and other institutional investors.

News Stock Performance

News stock opened at $28.43 on Friday. The stock has a fifty day moving average price of $26.38 and a 200 day moving average price of $25.53. News Corporation has a 52 week low of $22.20 and a 52 week high of $31.61. The firm has a market capitalization of $15.56 billion, a P/E ratio of 14.14 and a beta of 0.89. 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 issued its quarterly earnings results on Thursday, May 7th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.05. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.11 billion. News had a return on equity of 6.12% and a net margin of 12.92%.The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the company earned $0.17 EPS. Equities research analysts anticipate that News Corporation will post 0.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NWSA. Weiss Ratings raised shares of News from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. Wall Street Zen raised shares of News from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Zacks Research raised shares of News from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 9th. Morgan Stanley reissued an “overweight” rating and set a $34.00 price objective on shares of News in a research note on Sunday, May 10th. Finally, 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 report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, News has an average rating of “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.