News Corporation $NWSA Holdings Boosted by First Trust Advisors LP

Key Points

• First Trust Advisors LP increased its News Corporation stake by 774.5% in the first quarter, bringing its holdings to 257,352 shares valued at $6.4 million. Institutional investors collectively own approximately 66.97% of the company.
• News Corporation exceeded quarterly expectations, reporting $0.21 EPS versus a $0.16 estimate and $2.19 billion in revenue, up 8.8% year over year.
• Analyst sentiment is favorable, with the stock carrying an average “Buy” rating and a consensus price target of $37.14, compared with a recent price of $27.56.

First Trust Advisors LP raised its position in shares of News Corporation (NASDAQ:NWSA - Free Report) by 774.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 257,352 shares of the company's stock after purchasing an additional 227,922 shares during the quarter. First Trust Advisors LP's holdings in News were worth $6,416,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. ABN Amro Investment Solutions purchased a new position in News during the 1st quarter valued at about $256,000. Oslo Pensjonsforsikring AS acquired a new stake in shares of News during the first quarter worth approximately $239,000. Commonwealth Financial Services LLC purchased a new position in News during the first quarter valued at approximately $266,000. Dimensional Fund Advisors LP lifted its position in News by 2.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,245,597 shares of the company's stock worth $105,842,000 after buying an additional 94,368 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of News by 27.2% during the 1st quarter. Parallel Advisors LLC now owns 10,549 shares of the company's stock valued at $263,000 after buying an additional 2,259 shares during the period. Institutional investors and hedge funds own 66.97% of the company's stock.

News Price Performance

Shares of News stock opened at $27.56 on Monday. News Corporation has a 12-month low of $22.20 and a 12-month high of $31.61. The company has a quick ratio of 1.59, a current ratio of 1.70 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average price of $26.65 and a two-hundred day moving average price of $25.62. The stock has a market capitalization of $15.09 billion, a P/E ratio of 13.71 and a beta of 0.88.

News (NASDAQ:NWSA - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.05. The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.11 billion. News had a net margin of 12.92% and a return on equity of 6.12%. News's quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.17 EPS. Equities analysts expect that News Corporation will post 1.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Weiss Ratings upgraded News from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, July 16th. Zacks Research raised News from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 9th. Wall Street Zen raised News from a "hold" rating to a "buy" rating in a research note on Saturday, May 16th. Citigroup dropped their price objective on News from $39.00 to $38.00 and set a "buy" rating on the stock in a report on Wednesday, May 13th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $34.00 target price on shares of News in a research note on Sunday, May 10th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $37.14.

News Company Profile

News Corporation NASDAQ: NWSA is a global diversified media and information services company headquartered in New York City. It operates through two principal segments: News and Information Services, and Digital Real Estate Services. The company's news and information division oversees a portfolio of leading newspapers, magazines and digital platforms, offering content across print and online channels. Its properties include Dow Jones, publisher of The Wall Street Journal and Barron's, News UK titles such as The Times and The Sun, as well as News Corp Australia mastheads.

In addition to its journalism assets, News Corp is a significant player in book publishing through HarperCollins, one of the world's largest consumer publishers.

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