Cooper Investors PTY Ltd. cut its position in shares of News Corporation (NASDAQ:NWSA - Free Report) by 12.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,522,346 shares of the company's stock after selling 214,509 shares during the quarter. News accounts for 6.7% of Cooper Investors PTY Ltd.'s investment portfolio, making the stock its biggest holding. Cooper Investors PTY Ltd. owned approximately 0.27% of News worth $41,438,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in shares of News in the first quarter worth $875,000. CX Institutional purchased a new stake in News during the first quarter valued at about $76,000. Cyndeo Wealth Partners LLC purchased a new stake in shares of News in the first quarter worth about $257,000. Raymond James Financial Inc. purchased a new stake in shares of News in the fourth quarter worth about $1,171,000. Finally, Merit Financial Group LLC purchased a new stake in shares of News in the first quarter worth about $245,000. 66.97% of the stock is owned by institutional investors and hedge funds.
News Stock Performance
Shares of NWSA stock opened at $28.86 on Tuesday. News Corporation has a 12-month low of $23.38 and a 12-month high of $30.69. The firm has a market capitalization of $16.34 billion, a price-to-earnings ratio of 33.56 and a beta of 1.23. The business has a 50 day simple moving average of $27.63 and a 200 day simple moving average of $27.70. 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 issued its quarterly earnings results on Thursday, May 8th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.19 by ($0.02). The firm had revenue of $2.01 billion for 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% compared to the same quarter last year. During the same period in the previous year, the business posted $0.13 earnings per share. On average, equities research analysts anticipate that News Corporation will post 0.94 EPS for the current year.
Analysts Set New Price Targets
NWSA has been the topic of several recent analyst reports. Morgan Stanley cut their price target on News from $38.00 to $37.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Guggenheim restated a "buy" rating and set a $45.00 price objective on shares of News in a research note on Thursday, May 15th. Finally, Wall Street Zen cut News from a "buy" rating to a "hold" rating in a research report 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 given a strong buy rating to the company. According to MarketBeat.com, News currently has an average rating of "Buy" and an average price target of $39.20.
Check Out Our Latest Report 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.
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