Swedbank AB Acquires 171,325 Shares of News Corporation $NWSA

Key Points

• Swedbank AB boosted its stake in News Corporation by 89.1% in the first quarter, buying 171,325 additional shares and bringing its total holdings to 363,651 shares worth about $9.07 million.
• News Corp posted better-than-expected quarterly results, with EPS of $0.21 versus $0.16 expected and revenue of $2.19 billion versus $2.11 billion expected. Revenue rose 8.8% year over year.
• Analyst sentiment on NWSA is generally positive, with a consensus rating of Moderate Buy and an average price target of $37.14, above the recent trading price around $27.37.

Swedbank AB increased its holdings in News Corporation (NASDAQ:NWSA - Free Report) by 89.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 363,651 shares of the company's stock after acquiring an additional 171,325 shares during the quarter. Swedbank AB owned about 0.07% of News worth $9,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. CYBER HORNET ETFs LLC bought a new stake in News during the second quarter worth about $30,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of News in the 3rd quarter worth approximately $31,000. Advisory Services Network LLC bought a new position in News during the 3rd quarter valued at approximately $35,000. Brown Brothers Harriman & Co. raised its stake in News by 154.5% during the third quarter. Brown Brothers Harriman & Co. now owns 1,285 shares of the company's stock valued at $39,000 after buying an additional 780 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in News by 561.1% in the fourth quarter. Global Retirement Partners LLC now owns 1,732 shares of the company's stock worth $45,000 after acquiring an additional 1,470 shares in the last quarter. 66.97% of the stock is owned by hedge funds and other institutional investors.

News Stock Performance

Shares of NASDAQ:NWSA traded down $0.12 during midday trading on Friday, reaching $27.37. 2,165,762 shares of the company's stock traded hands, compared to its average volume of 6,756,671. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.59 and a current ratio of 1.70. News Corporation has a one year low of $22.20 and a one year high of $31.61. The company has a market cap of $14.98 billion, a price-to-earnings ratio of 13.62 and a beta of 0.89. The stock has a 50 day moving average of $26.21 and a 200 day moving average of $25.47.

News (NASDAQ:NWSA - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.16 by $0.05. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.11 billion. News had a return on equity of 6.12% and a net margin of 12.92%.News's revenue for the quarter was up 8.8% on a year-over-year basis. During the same period last year, the company earned $0.17 EPS. As a group, equities research analysts anticipate that News Corporation will post 0.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on NWSA shares. Wall Street Zen upgraded News from a "hold" rating to a "buy" rating in a report on Saturday, May 16th. Zacks Research raised shares of News from a "hold" rating to a "strong-buy" rating in a research report on Thursday. Morgan Stanley restated an "overweight" rating and set a $34.00 price objective on shares of News in a research note on Sunday, May 10th. Citigroup dropped their target price on shares of News from $39.00 to $38.00 and set a "buy" rating on the stock in a research note on Wednesday, May 13th. Finally, Weiss Ratings upgraded shares of News from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $37.14.

News 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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