News Corporation $NWSA is 59 North Capital Management LP’s 3rd Largest Position

59 North Capital Management LP reduced its position in shares of News Corporation (NASDAQ:NWSA) by 7.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,964,234 shares of the company’s stock after selling 1,045,008 shares during the period. News comprises about 10.5% of 59 North Capital Management LP’s holdings, making the stock its 3rd largest holding. 59 North Capital Management LP owned about 2.31% of News worth $338,626,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. CYBER HORNET ETFs LLC purchased a new position in News in the second quarter valued at $30,000. Caitong International Asset Management Co. Ltd purchased a new position in News in the third quarter valued at $31,000. Advisory Services Network LLC purchased a new position in News in the third quarter valued at $35,000. Brown Brothers Harriman & Co. boosted its holdings in News by 154.5% in the third quarter. Brown Brothers Harriman & Co. now owns 1,285 shares of the company’s stock valued at $39,000 after purchasing an additional 780 shares during the period. Finally, Global Retirement Partners LLC boosted its holdings in News by 561.1% in the fourth quarter. Global Retirement Partners LLC now owns 1,732 shares of the company’s stock valued at $45,000 after purchasing an additional 1,470 shares during the period. 66.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

News Price Performance

Shares of NWSA opened at $25.98 on Thursday. News Corporation has a twelve month low of $22.20 and a twelve month high of $31.61. The stock’s 50 day moving average is $26.12 and its two-hundred day moving average is $25.47. The firm has a market capitalization of $14.22 billion, a PE ratio of 12.93 and a beta of 0.88. 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 announced its quarterly earnings data on Thursday, May 7th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. The company 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 revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.17 EPS. Research analysts anticipate that News Corporation will post 0.92 earnings per share for the current year.

About News

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.