Entropy Technologies LP Buys 24,597 Shares of News Corporation $NWSA

Entropy Technologies LP grew its stake in shares of News Corporation (NASDAQ:NWSA) by 17.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 163,072 shares of the company’s stock after purchasing an additional 24,597 shares during the quarter. Entropy Technologies LP’s holdings in News were worth $4,065,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of News by 57.2% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 23,263 shares of the company’s stock valued at $580,000 after buying an additional 8,460 shares in the last quarter. Compound Planning Inc. raised its position in News by 5.0% during the first quarter. Compound Planning Inc. now owns 11,184 shares of the company’s stock worth $279,000 after acquiring an additional 537 shares in the last quarter. Caxton Associates LLP acquired a new stake in News in the first quarter valued at $2,145,000. Sei Investments Co. grew its position in shares of News by 120.6% in the 1st quarter. Sei Investments Co. now owns 2,326,616 shares of the company’s stock valued at $58,002,000 after acquiring an additional 1,272,083 shares during the period. Finally, First Trust Advisors LP increased its stake in shares of News by 774.5% during the 1st quarter. First Trust Advisors LP now owns 257,352 shares of the company’s stock worth $6,416,000 after purchasing an additional 227,922 shares during the last quarter. Institutional investors own 66.97% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on NWSA. Morgan Stanley reiterated an “overweight” rating and issued a $34.00 target price on shares of News in a research note on Sunday, May 10th. Weiss Ratings raised News from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Wall Street Zen upgraded News from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Citigroup cut their price objective on News from $39.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. Finally, Zacks Research raised News from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, News presently has an average rating of “Buy” and an average target price of $37.14.

News Stock Performance

Shares of NWSA stock opened at $26.76 on Friday. News Corporation has a 52 week low of $22.20 and a 52 week high of $31.61. The company has a market capitalization of $14.65 billion, a price-to-earnings ratio of 13.31 and a beta of 0.89. The company has a 50-day simple moving average of $26.45 and a 200 day simple moving average of $25.57. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.59 and a current ratio of 1.70.

News (NASDAQ:NWSA) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.05. The firm had revenue of $2.19 billion for 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 revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.17 EPS. On average, sell-side analysts predict that News Corporation will post 0.92 earnings per share for the current year.

News Company 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.