KBC Group NV reduced its holdings in News Corporation (NASDAQ:NWSA - Free Report) by 59.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 150,846 shares of the company's stock after selling 224,868 shares during the quarter. KBC Group NV's holdings in News were worth $4,106,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the business. Norges Bank bought a new stake in News during the 4th quarter worth approximately $172,357,000. Asset Value Investors Ltd bought a new stake in shares of News during the fourth quarter worth $122,391,000. Deutsche Bank AG raised its holdings in shares of News by 291.2% during the fourth quarter. Deutsche Bank AG now owns 4,941,467 shares of the company's stock worth $136,088,000 after acquiring an additional 3,678,215 shares during the period. Independent Franchise Partners LLP lifted its position in News by 11.8% in the 4th quarter. Independent Franchise Partners LLP now owns 26,617,259 shares of the company's stock valued at $733,039,000 after acquiring an additional 2,812,080 shares in the last quarter. Finally, 59 North Capital Management LP boosted its stake in News by 40.2% in the 4th quarter. 59 North Capital Management LP now owns 8,962,112 shares of the company's stock worth $246,817,000 after purchasing an additional 2,569,343 shares during the period. Institutional investors and hedge funds own 66.97% of the company's stock.
News Stock Performance
Shares of NASDAQ NWSA opened at $29.61 on Thursday. 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 has a 50 day moving average price of $28.13 and a 200 day moving average price of $27.74. The stock has a market capitalization of $16.76 billion, a PE ratio of 34.43 and a beta of 1.23. News Corporation has a 52 week low of $23.38 and a 52 week high of $30.69.
News (NASDAQ:NWSA - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.02). News had a net margin of 5.18% and a return on equity of 5.64%. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2 billion. During the same period in the previous year, the company posted $0.13 EPS. The company's quarterly revenue was up .8% compared to the same quarter last year. Analysts predict that News Corporation will post 0.94 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
NWSA has been the topic of a number of research reports. Wall Street Zen lowered News from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Guggenheim restated a "buy" rating and issued a $45.00 target price on shares of News in a research note on Thursday, May 15th. Finally, Morgan Stanley reduced their price target on News from $38.00 to $37.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $39.20.
Get Our Latest Analysis on News
News Company Profile
(
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.
See Also
Want to see what other hedge funds are holding NWSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for News Corporation (NASDAQ:NWSA - Free Report).
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