News Co. (NASDAQ:NWSA) Shares Bought by Point72 Asset Management L.P.

Point72 Asset Management L.P. grew its position in shares of News Co. (NASDAQ:NWSA) by 387.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 862,245 shares of the company’s stock after acquiring an additional 685,340 shares during the quarter. Point72 Asset Management L.P. owned about 0.15% of News worth $23,746,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. boosted its holdings in shares of News by 1.9% during the fourth quarter. Franklin Resources Inc. now owns 21,962 shares of the company’s stock valued at $605,000 after acquiring an additional 418 shares during the period. Ballentine Partners LLC boosted its holdings in shares of News by 3.8% during the fourth quarter. Ballentine Partners LLC now owns 11,576 shares of the company’s stock valued at $319,000 after acquiring an additional 422 shares during the period. Boyar Asset Management Inc. lifted its holdings in News by 2.9% in the fourth quarter. Boyar Asset Management Inc. now owns 15,203 shares of the company’s stock worth $419,000 after purchasing an additional 422 shares during the period. Principal Securities Inc. lifted its holdings in News by 18.5% in the fourth quarter. Principal Securities Inc. now owns 3,334 shares of the company’s stock worth $92,000 after purchasing an additional 521 shares during the period. Finally, Metis Global Partners LLC lifted its holdings in News by 4.4% in the fourth quarter. Metis Global Partners LLC now owns 12,518 shares of the company’s stock worth $345,000 after purchasing an additional 533 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 $28.32 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.65 and a debt-to-equity ratio of 0.22. The company’s 50-day moving average price is $26.77 and its two-hundred day moving average price is $27.87. News Co. has a 52 week low of $23.38 and a 52 week high of $30.69. The stock has a market cap of $16.07 billion, a PE ratio of 38.80 and a beta of 1.30.

News (NASDAQ:NWSA) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.02). The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $2 billion. News had a return on equity of 5.31% and a net margin of 4.22%. News’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.13 EPS. As a group, sell-side analysts anticipate that News Co. will post 0.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NWSA. StockNews.com raised shares of News from a “hold” rating to a “buy” rating in a report on Wednesday. Seaport Res Ptn raised shares of News to a “strong-buy” rating in a report on Friday, January 31st. Morgan Stanley reduced their price objective on shares of News from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, April 11th. UBS Group raised shares of News from a “neutral” rating to a “buy” rating in a report on Tuesday, February 4th. Finally, Guggenheim upped their price objective on shares of News from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, News has an average rating of “Buy” and a consensus target price of $38.80.

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.