Credit Industriel ET Commercial Acquires 98,183 Shares of News Corporation $NWSA

Credit Industriel ET Commercial raised its holdings in News Corporation (NASDAQ:NWSA) by 101.1% in the first quarter, Holdings Channel.com reports. The fund owned 195,326 shares of the company’s stock after acquiring an additional 98,183 shares during the quarter. Credit Industriel ET Commercial’s holdings in News were worth $4,869,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in NWSA. Banco Bilbao Vizcaya Argentaria S.A. increased its stake in shares of News by 4.5% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 11,521 shares of the company’s stock worth $301,000 after purchasing an additional 496 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of News by 23.2% in the 4th quarter. Farther Finance Advisors LLC now owns 2,648 shares of the company’s stock valued at $69,000 after purchasing an additional 498 shares during the last quarter. Coldstream Capital Management Inc. boosted its holdings in News by 5.9% in the third quarter. Coldstream Capital Management Inc. now owns 10,139 shares of the company’s stock worth $311,000 after purchasing an additional 563 shares in the last quarter. Handelsbanken Fonder AB increased its position in News by 0.4% during the fourth quarter. Handelsbanken Fonder AB now owns 151,100 shares of the company’s stock worth $3,947,000 after buying an additional 600 shares during the last quarter. Finally, Patton Fund Management Inc. increased its position in News by 7.8% during the fourth quarter. Patton Fund Management Inc. now owns 8,753 shares of the company’s stock worth $229,000 after buying an additional 634 shares during the last quarter. 66.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NWSA has been the subject of a number of analyst reports. Wall Street Zen raised News from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Citigroup cut their price objective on News from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, May 13th. Weiss Ratings upgraded News from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $34.00 target price on shares of News in a research report on Sunday, May 10th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, News has an average rating of “Moderate Buy” and an average target price of $37.14.

News Stock Performance

Shares of NWSA opened at $27.02 on Tuesday. The company has a market capitalization of $14.79 billion, a PE ratio of 13.45 and a beta of 0.89. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.70 and a quick ratio of 1.59. News Corporation has a one year low of $22.20 and a one year high of $31.61. The company’s fifty day moving average price is $26.14 and its 200 day moving average price is $25.44.

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

About News

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.