Victory Capital Management Inc. Purchases 13,586 Shares of News Corporation (NASDAQ:NWSA)

Key Points

• Victory Capital Management Inc. increased its holdings in News Corporation by 6.6%, acquiring an additional 13,586 shares, bringing its total to 219,799 shares valued at approximately $5.98 million.
• Morgan Stanley lowered its target price for News Corporation from $38.00 to $37.00, while the company currently has an overall consensus rating of "Buy" with a target price of $39.20.
• News Corporation's latest quarterly earnings report showed a net income of $0.17 per share, slightly missing the consensus estimate of $0.19, with a revenue of $2.01 billion.

Victory Capital Management Inc. increased its position in shares of News Corporation (NASDAQ:NWSA - Free Report) by 6.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 219,799 shares of the company's stock after buying an additional 13,586 shares during the period. Victory Capital Management Inc.'s holdings in News were worth $5,983,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in NWSA. Norges Bank acquired a new position in News during the fourth quarter worth $172,357,000. Asset Value Investors Ltd acquired a new position in shares of News in the fourth quarter valued at $122,391,000. Deutsche Bank AG increased its holdings in shares of News by 291.2% in the fourth quarter. Deutsche Bank AG now owns 4,941,467 shares of the company's stock valued at $136,088,000 after purchasing an additional 3,678,215 shares during the last quarter. Independent Franchise Partners LLP increased its holdings in shares of News by 11.8% in the fourth quarter. Independent Franchise Partners LLP now owns 26,617,259 shares of the company's stock valued at $733,039,000 after purchasing an additional 2,812,080 shares during the last quarter. Finally, 59 North Capital Management LP increased its holdings in shares of News by 40.2% in the fourth quarter. 59 North Capital Management LP now owns 8,962,112 shares of the company's stock valued at $246,817,000 after purchasing an additional 2,569,343 shares during the last quarter. 66.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on NWSA shares. Morgan Stanley decreased their price objective on shares of News from $38.00 to $37.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. Guggenheim reiterated a "buy" rating and issued a $45.00 price objective on shares of News in a report on Thursday, May 15th. Finally, Wall Street Zen downgraded shares of News from a "buy" rating to a "hold" rating in a report on Friday, May 30th. One research 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's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $39.20.

News Stock Performance

Shares of News stock traded up $0.18 during trading on Friday, reaching $29.53. The company's stock had a trading volume of 2,332,362 shares, compared to its average volume of 2,528,054. The business's 50-day moving average price is $28.75 and its 200-day moving average price is $27.94. The firm has a market cap of $16.72 billion, a PE ratio of 34.34 and a beta of 1.23. News Corporation has a 52 week low of $23.38 and a 52 week high of $30.75. The company has a quick ratio of 1.60, a current ratio of 1.68 and a debt-to-equity ratio of 0.21.

News (NASDAQ:NWSA - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.19 by ($0.02). The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2 billion. News had a net margin of 5.18% and a return on equity of 5.64%. The company's revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.13 EPS. Equities analysts forecast that News Corporation will post 0.94 earnings per share 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.