QRG Capital Management Inc. Raises Position in News Corporation (NASDAQ:NWSA)

QRG Capital Management Inc. raised its stake in News Corporation (NASDAQ:NWSA - Free Report) by 25.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 176,224 shares of the company's stock after buying an additional 35,857 shares during the period. QRG Capital Management Inc.'s holdings in News were worth $4,797,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Sowell Financial Services LLC bought a new stake in shares of News during the 1st quarter valued at about $200,000. Cyndeo Wealth Partners LLC bought a new stake in shares of News during the 1st quarter valued at about $257,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of News by 103.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 23,344 shares of the company's stock valued at $635,000 after purchasing an additional 11,898 shares in the last quarter. Metropolis Capital Ltd boosted its position in shares of News by 11.4% during the 1st quarter. Metropolis Capital Ltd now owns 4,946,609 shares of the company's stock valued at $134,647,000 after purchasing an additional 504,751 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of News by 7.7% during the 1st quarter. Fifth Third Bancorp now owns 16,150 shares of the company's stock valued at $440,000 after purchasing an additional 1,152 shares in the last quarter. Institutional investors own 66.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on NWSA shares. Wall Street Zen lowered News from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Guggenheim reaffirmed a "buy" rating and set a $45.00 price target on shares of News in a research note on Thursday, May 15th. Finally, Morgan Stanley dropped 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. One investment 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. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $39.20.

News Stock Up 1.0%

Shares of News stock traded up $0.29 on Friday, hitting $28.35. The company had a trading volume of 15,257,985 shares, compared to its average volume of 2,914,663. The stock has a market capitalization of $16.05 billion, a price-to-earnings ratio of 32.97 and a beta of 1.23. News Corporation has a 1 year low of $23.38 and a 1 year high of $30.69. The stock has a 50 day moving average of $27.58 and a 200-day moving average of $27.71. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.60 and a current ratio of 1.68.

News (NASDAQ:NWSA - Get Free Report) last issued 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). The company had revenue of $2.01 billion during the quarter, compared to analysts' expectations of $2 billion. News had a return on equity of 5.64% and a net margin of 5.18%. The business's revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the company earned $0.13 earnings per share. As a group, sell-side analysts forecast that News Corporation will post 0.94 earnings per share for the current year.

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.