News Corporation (NASDAQ:NWSA) Shares Bought by QRG Capital Management Inc.

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

Several other large investors have also modified their holdings of NWSA. Allspring Global Investments Holdings LLC raised its position in News by 204.5% during 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 during the last quarter. Asset Management One Co. Ltd. increased its stake in shares of News by 0.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 151,693 shares of the company's stock worth $4,216,000 after acquiring an additional 820 shares during the period. Principal Securities Inc. lifted its position in News by 18.5% in the fourth quarter. Principal Securities Inc. now owns 3,334 shares of the company's stock valued at $92,000 after purchasing an additional 521 shares during the period. CIBC Asset Management Inc boosted its holdings in News by 4.6% in the 4th quarter. CIBC Asset Management Inc now owns 57,744 shares of the company's stock valued at $1,590,000 after purchasing an additional 2,558 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund increased its position in News by 57.4% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 17,629 shares of the company's stock worth $486,000 after purchasing an additional 6,428 shares during the period. Hedge funds and other institutional investors own 66.97% of the company's stock.

News Stock Down 1.7%

News stock opened at $27.76 on Wednesday. The firm has a market capitalization of $15.72 billion, a price-to-earnings ratio of 32.28 and a beta of 1.23. 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 Corporation has a fifty-two week low of $23.38 and a fifty-two week high of $30.69. The stock's fifty day moving average is $27.45 and its two-hundred day moving average is $27.74.

News (NASDAQ:NWSA - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.17 earnings per share 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 business had revenue of $2.01 billion for the quarter, compared to analysts' expectations of $2 billion. During the same quarter last year, the business posted $0.13 earnings per share. The business's revenue was up .8% compared to the same quarter last year. Analysts predict that News Corporation will post 0.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NWSA has been the topic of a number of analyst reports. Wall Street Zen downgraded News from a "buy" rating to a "hold" rating in a research note 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 cut their price target on shares of News from $38.00 to $37.00 and set an "overweight" rating for the company in a report on Friday, April 11th. One 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 MarketBeat.com, News has an average rating of "Buy" and an average price target of $39.20.

News Company 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.

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