Mackenzie Financial Corp Buys 688,515 Shares of News Corporation (NASDAQ:NWSA)

Mackenzie Financial Corp grew its stake in shares of News Corporation (NASDAQ:NWSA - Free Report) by 199.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,033,054 shares of the company's stock after purchasing an additional 688,515 shares during the period. Mackenzie Financial Corp owned about 0.18% of News worth $28,120,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Optiver Holding B.V. bought a new stake in shares of News during the 4th quarter worth about $31,000. Sentry Investment Management LLC bought a new stake in News during the 1st quarter valued at approximately $36,000. CX Institutional bought a new stake in News during the 1st quarter valued at approximately $76,000. Versant Capital Management Inc boosted its stake in News by 714.9% during the 1st quarter. Versant Capital Management Inc now owns 4,433 shares of the company's stock valued at $121,000 after purchasing an additional 3,889 shares during the period. Finally, Central Pacific Bank Trust Division boosted its stake in News by 53.3% during the 1st quarter. Central Pacific Bank Trust Division now owns 4,600 shares of the company's stock valued at $125,000 after purchasing an additional 1,600 shares during the period. 66.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Wall Street Zen downgraded News from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Morgan Stanley reduced their price objective on News from $38.00 to $37.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Finally, Guggenheim reiterated a "buy" rating and issued a $45.00 price objective on shares of News in a research report on Thursday, May 15th. 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. Based on data from MarketBeat.com, News currently has a consensus rating of "Buy" and an average target price of $39.20.

News Price Performance

Shares of NWSA traded down $0.23 during mid-day trading on Friday, reaching $29.09. The company had a trading volume of 2,872,101 shares, compared to its average volume of 2,411,190. News Corporation has a twelve month low of $23.38 and a twelve month high of $30.75. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.68 and a quick ratio of 1.60. The company's 50-day moving average is $28.87 and its 200-day moving average is $28.00. The company has a market capitalization of $16.47 billion, a P/E ratio of 33.83 and a beta of 1.23.

News (NASDAQ:NWSA - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates 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 analyst estimates of $2 billion. During the same period in the prior year, the business earned $0.13 earnings per share. The company's revenue for the quarter was up .8% on a year-over-year basis. On average, equities analysts anticipate that News Corporation will post 0.94 EPS for the current year.

About News

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.