Cyndeo Wealth Partners LLC Buys New Shares in News Corporation (NASDAQ:NWSA)

Cyndeo Wealth Partners LLC purchased a new stake in News Corporation (NASDAQ:NWSA - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 9,453 shares of the company's stock, valued at approximately $257,000.

Other large investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in News in the 1st quarter valued at approximately $875,000. Allspring Global Investments Holdings LLC raised its holdings in shares of News by 204.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 344,043 shares of the company's stock worth $9,447,000 after buying an additional 231,056 shares in the last quarter. CX Institutional acquired a new position in shares of News in the 1st quarter worth approximately $76,000. Asset Management One Co. Ltd. raised its holdings in shares of News by 0.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 151,693 shares of the company's stock worth $4,216,000 after buying an additional 820 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of News in the 4th quarter worth approximately $1,171,000. Institutional investors and hedge funds own 66.97% of the company's stock.

News Stock Up 1.0%

Shares of News stock traded up $0.29 during trading on Friday, reaching $28.35. The stock had a trading volume of 15,257,985 shares, compared to its average volume of 2,914,663. The company has a market capitalization of $16.05 billion, a price-to-earnings ratio of 32.97 and a beta of 1.23. The stock has a fifty day moving average price of $27.58 and a two-hundred day moving average price of $27.71. News Corporation has a 52 week low of $23.38 and a 52 week high of $30.69. The company has a current ratio of 1.68, a quick ratio of 1.60 and a debt-to-equity ratio of 0.21.

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

Analyst Upgrades and Downgrades

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

News Profile

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.