Summit Trail Advisors LLC Buys New Holdings in News Corporation (NASDAQ:NWSA)

Summit Trail Advisors LLC acquired a new stake in News Corporation (NASDAQ:NWSA - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,337 shares of the company's stock, valued at approximately $365,000.

Other hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC grew its holdings in shares of News by 2,392.9% in the fourth quarter. Larson Financial Group LLC now owns 1,047 shares of the company's stock valued at $29,000 after purchasing an additional 1,005 shares during the period. Optiver Holding B.V. purchased a new stake in shares of News in the fourth quarter valued at about $31,000. Lee Danner & Bass Inc. acquired a new position in News in the fourth quarter valued at about $36,000. Sentry Investment Management LLC purchased a new position in News during the first quarter worth about $36,000. Finally, Smartleaf Asset Management LLC boosted its stake in News by 49.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,989 shares of the company's stock worth $55,000 after buying an additional 660 shares during the period. Hedge funds and other institutional investors own 66.97% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on NWSA shares. Guggenheim reaffirmed a "buy" rating and set a $45.00 target price on shares of News in a research note on Thursday, May 15th. Morgan Stanley lowered their target price on shares of News from $38.00 to $37.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Finally, Wall Street Zen lowered shares of News from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $39.20.

News Stock Down 1.2%

Shares of NWSA traded down $0.37 during mid-day trading on Friday, hitting $29.24. 1,405,234 shares of the company's stock were exchanged, compared to its average volume of 2,941,802. The company has a market cap of $16.55 billion, a price-to-earnings ratio of 34.00 and a beta of 1.23. News Corporation has a fifty-two week low of $23.38 and a fifty-two week high of $30.69. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.60 and a current ratio of 1.68. The stock's 50-day moving average is $28.22 and its 200-day moving average is $27.75.

News (NASDAQ:NWSA - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.02). The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $2 billion. News had a return on equity of 5.64% and a net margin of 5.18%. The firm's revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.13 EPS. On average, sell-side analysts anticipate that News Corporation will post 0.94 earnings per share for the current fiscal year.

About News

News Corporation, a media and information services company, creates and distributes authoritative and engaging content, and other products and services for consumers and businesses worldwide. It operates through six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.