Hsbc Holdings PLC Purchases 85,624 Shares of News Corporation $NWSA

Hsbc Holdings PLC boosted its position in News Corporation (NASDAQ:NWSA) by 12.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 763,163 shares of the company’s stock after purchasing an additional 85,624 shares during the period. Hsbc Holdings PLC owned about 0.14% of News worth $19,959,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Swedbank AB grew its position in News by 77.3% during the 4th quarter. Swedbank AB now owns 192,326 shares of the company’s stock worth $5,024,000 after acquiring an additional 83,821 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake 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 valued at $21,580,000 after buying an additional 102,259 shares during the period. CIBC Bancorp USA Inc. acquired a new position in shares of News in the third quarter valued at approximately $8,799,000. WINTON GROUP Ltd bought a new position in News in the 3rd quarter valued at approximately $5,927,000. Finally, JPMorgan Chase & Co. increased its position in News by 22.9% in the 3rd 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 during the period. Institutional investors and hedge funds own 66.97% of the company’s stock.

Wall Street Analysts Forecast Growth

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

News Price Performance

Shares of NASDAQ NWSA opened at $26.92 on Wednesday. The company has a market capitalization of $14.74 billion, a PE ratio of 13.39 and a beta of 0.89. The company has a quick ratio of 1.59, a current ratio of 1.70 and a debt-to-equity ratio of 0.21. News Corporation has a twelve month low of $22.20 and a twelve month high of $31.61. The firm has a fifty day simple moving average of $26.15 and a 200 day simple moving average of $25.44.

News (NASDAQ:NWSA) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. News had a net margin of 12.92% and a return on equity of 6.12%. The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter in the prior year, the firm posted $0.17 earnings per share. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, sell-side analysts forecast that News Corporation will post 0.92 EPS 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.