Hsbc Holdings PLC Raises Position in News Corporation $NWS

Hsbc Holdings PLC grew its position in shares of News Corporation (NASDAQ:NWS) by 60.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 268,349 shares of the company’s stock after buying 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 & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in NWS. NewEdge Advisors LLC bought a new position in News in the 2nd quarter valued at approximately $30,000. ExodusPoint Capital Management LP bought a new stake in shares of News in the 4th quarter worth $37,000. Arax Advisory Partners purchased a new position in shares of News in the fourth quarter worth $47,000. Resona Asset Management Co. Ltd. lifted its holdings in shares of News by 69.0% during the fourth quarter. Resona Asset Management Co. Ltd. now owns 1,629 shares of the company’s stock valued at $49,000 after purchasing an additional 665 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of News by 74.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,056 shares of the company’s stock valued at $62,000 after purchasing an additional 878 shares in the last quarter. Institutional investors own 14.63% of the company’s stock.

News Trading Up 1.4%

News stock opened at $28.73 on Friday. News Corporation has a 52-week low of $25.49 and a 52-week high of $35.58. The company has a market cap of $15.73 billion, a P/E ratio of 14.29 and a beta of 0.87. The company has a quick ratio of 1.59, a current ratio of 1.70 and a debt-to-equity ratio of 0.21. The business has a 50-day simple moving average of $29.99 and a two-hundred day simple moving average of $29.04.

News (NASDAQ:NWS) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.07. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.12 billion. News had a net margin of 12.92% and a return on equity of 6.12%. Analysts predict that News Corporation will post 0.96 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on NWS. Zacks Research downgraded News from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Weiss Ratings cut shares of News from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold”.

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.