Point72 Asset Management L.P. Purchases 685,340 Shares of News Co. (NASDAQ:NWSA)

Point72 Asset Management L.P. raised its stake in shares of News Co. (NASDAQ:NWSA - Free Report) by 387.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 862,245 shares of the company's stock after acquiring an additional 685,340 shares during the period. Point72 Asset Management L.P. owned about 0.15% of News worth $23,746,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Larson Financial Group LLC increased its holdings in News by 2,392.9% in the 4th quarter. Larson Financial Group LLC now owns 1,047 shares of the company's stock worth $29,000 after acquiring an additional 1,005 shares during the last quarter. Optiver Holding B.V. bought a new position in shares of News in the fourth quarter worth approximately $31,000. Lee Danner & Bass Inc. bought a new position in shares of News in the fourth quarter worth approximately $36,000. R Squared Ltd bought a new position in shares of News in the fourth quarter worth approximately $49,000. Finally, Smartleaf Asset Management LLC boosted its stake in News by 49.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,989 shares of the company's stock worth $55,000 after buying an additional 660 shares in the last quarter. 66.97% of the stock is currently owned by institutional investors.

News Price Performance

NASDAQ NWSA remained flat at $28.33 during trading hours on Tuesday. The company had a trading volume of 2,120,074 shares, compared to its average volume of 2,806,258. News Co. has a 52 week low of $23.38 and a 52 week high of $30.69. The stock has a 50 day moving average price of $26.80 and a 200 day moving average price of $27.89. The company has a market capitalization of $16.04 billion, a P/E ratio of 38.81 and a beta of 1.30. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.65 and a current ratio of 1.73.

News (NASDAQ:NWSA - Get Free Report) last released its quarterly 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 firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2 billion. News had a net margin of 4.22% and a return on equity of 5.31%. The company's revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.13 earnings per share. As a group, research analysts predict that News Co. will post 0.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NWSA. StockNews.com raised News from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Seaport Res Ptn upgraded News to a "strong-buy" rating in a report on Friday, January 31st. Guggenheim reiterated a "buy" rating and issued a $45.00 price objective on shares of News in a report on Thursday, May 15th. Morgan Stanley decreased their price objective on News from $38.00 to $37.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Finally, UBS Group upgraded News from a "neutral" rating to a "buy" rating in a report on Tuesday, February 4th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, News presently has a consensus rating of "Buy" and an average target price 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.