Y Intercept Hong Kong Ltd Takes Position in News Corporation $NWSA

Y Intercept Hong Kong Ltd bought a new position in shares of News Corporation (NASDAQ:NWSA) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 19,404 shares of the company’s stock, valued at approximately $577,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp grew its position in News by 1.3% in the 1st quarter. Bank of New York Mellon Corp now owns 3,081,305 shares of the company’s stock valued at $83,873,000 after purchasing an additional 39,342 shares during the period. Envestnet Asset Management Inc. increased its holdings in News by 37.4% during the first quarter. Envestnet Asset Management Inc. now owns 33,385 shares of the company’s stock worth $909,000 after buying an additional 9,091 shares during the last quarter. Axxcess Wealth Management LLC grew its holdings in News by 20.0% during the first quarter. Axxcess Wealth Management LLC now owns 18,006 shares of the company’s stock valued at $490,000 after purchasing an additional 3,000 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of News by 0.3% during the first quarter. Nisa Investment Advisors LLC now owns 232,442 shares of the company’s stock worth $6,350,000 after acquiring an additional 741 shares in the last quarter. Finally, Cerity Partners LLC grew its position in shares of News by 13.2% in the first quarter. Cerity Partners LLC now owns 82,586 shares of the company’s stock valued at $2,248,000 after purchasing an additional 9,648 shares in the last quarter. Institutional investors own 66.97% of the company’s stock.

News Price Performance

Shares of NWSA opened at $25.08 on Friday. The firm’s 50-day simple moving average is $28.11 and its two-hundred day simple moving average is $28.46. News Corporation has a fifty-two week low of $23.38 and a fifty-two week high of $31.61. The stock has a market cap of $14.17 billion, a PE ratio of 12.06 and a beta of 1.15. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.72 and a current ratio of 1.84.

News (NASDAQ:NWSA) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.04. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.11 billion. News had a return on equity of 5.66% and a net margin of 13.21%.The firm’s revenue for the quarter was down 16.8% on a year-over-year basis. During the same quarter last year, the company earned $0.21 EPS. Analysts anticipate that News Corporation will post 0.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

NWSA has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on News from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. Macquarie reaffirmed a “neutral” rating and set a $32.70 price objective on shares of News in a report on Wednesday, August 6th. Weiss Ratings restated a “buy (b)” rating on shares of News in a research report on Wednesday, October 8th. Finally, Zacks Research lowered News from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $38.62.

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.