Highbridge Capital Management LLC Increases Holdings in News Corporation $NWSA

Highbridge Capital Management LLC increased its position in News Corporation (NASDAQ:NWSA) by 12.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 727,579 shares of the company’s stock after acquiring an additional 81,947 shares during the period. Highbridge Capital Management LLC owned about 0.13% of News worth $19,004,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. CYBER HORNET ETFs LLC purchased a new stake in shares of News in the second quarter worth about $30,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of News during the 3rd quarter valued at $31,000. Advisory Services Network LLC acquired a new position in shares of News in the 3rd quarter valued at $35,000. Brown Brothers Harriman & Co. grew its position in News by 154.5% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,285 shares of the company’s stock worth $39,000 after purchasing an additional 780 shares during the period. Finally, Global Retirement Partners LLC grew its position in shares of News by 561.1% during the 4th quarter. Global Retirement Partners LLC now owns 1,732 shares of the company’s stock valued at $45,000 after acquiring an additional 1,470 shares during the period. 66.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NWSA has been the topic of a number of analyst reports. Wall Street Zen upgraded News from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Weiss Ratings raised shares of News from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. Morgan Stanley reaffirmed an “overweight” rating and issued a $34.00 price target on shares of News in a research note on Sunday, May 10th. Citigroup decreased their price target 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, Zacks Research raised shares of News from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 5th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, News currently has an average rating of “Moderate Buy” and a consensus price target of $37.14.

News Trading Up 1.6%

NWSA opened at $27.26 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.70 and a quick ratio of 1.59. The company’s 50 day simple moving average is $25.83 and its two-hundred day simple moving average is $25.41. News Corporation has a 1-year low of $22.20 and a 1-year high of $31.61. The firm has a market capitalization of $14.92 billion, a price-to-earnings ratio of 13.56 and a beta of 0.88.

News (NASDAQ:NWSA) last released its earnings results on Thursday, May 7th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.05. News had a net margin of 12.92% and a return on equity of 6.12%. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same period last year, the company posted $0.17 EPS. The business’s revenue was up 8.8% on a year-over-year basis. Analysts expect that News Corporation will post 0.92 EPS for the current fiscal year.

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.