Cyndeo Wealth Partners LLC acquired a new position in shares of News Corporation (NASDAQ:NWSA - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 9,453 shares of the company's stock, valued at approximately $257,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Larson Financial Group LLC boosted its stake in News by 2,392.9% in the 4th quarter. Larson Financial Group LLC now owns 1,047 shares of the company's stock worth $29,000 after buying an additional 1,005 shares during the last quarter. Optiver Holding B.V. acquired a new stake in shares of News in the fourth quarter worth approximately $31,000. Lee Danner & Bass Inc. purchased a new stake in News in the fourth quarter valued at approximately $36,000. Sentry Investment Management LLC acquired a new position in News during the first quarter worth approximately $36,000. Finally, Smartleaf Asset Management LLC raised 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 purchasing an additional 660 shares during the period. Hedge funds and other institutional investors own 66.97% of the company's stock.
News Trading Down 1.7%
NASDAQ:NWSA opened at $27.76 on Wednesday. The business's 50-day moving average is $27.45 and its two-hundred day moving average is $27.74. The firm has a market capitalization of $15.72 billion, a PE ratio of 32.28 and a beta of 1.23. News Corporation has a 12 month low of $23.38 and a 12 month high of $30.69. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.68 and a quick ratio of 1.60.
News (NASDAQ:NWSA - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.02). The company had revenue of $2.01 billion for the quarter, compared to analysts' expectations of $2 billion. News had a net margin of 5.18% and a return on equity of 5.64%. The business's quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.13 earnings per share. Research analysts predict that News Corporation will post 0.94 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of analysts have recently commented on NWSA shares. Guggenheim restated a "buy" rating and set a $45.00 price objective on shares of News in a report on Thursday, May 15th. Morgan Stanley dropped their price target on 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 News from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, News has a consensus rating of "Buy" and an average price target of $39.20.
Get Our Latest Stock Analysis on News
About News
(
Free Report)
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.
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