News Corporation $NWSA Shares Bought by Swedbank AB

Swedbank AB raised its position in News Corporation (NASDAQ:NWSA) by 77.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 192,326 shares of the company’s stock after acquiring an additional 83,821 shares during the period. Swedbank AB’s holdings in News were worth $5,024,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of News in the 3rd quarter worth $31,000. CYBER HORNET ETFs LLC acquired a new stake in shares of News in the 2nd quarter worth $30,000. Root Financial Partners LLC acquired a new stake in shares of News in the 3rd quarter worth $35,000. Advisory Services Network LLC acquired a new stake in shares of News in the 3rd quarter worth $35,000. Finally, Brown Brothers Harriman & Co. lifted its stake in shares of News by 154.5% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,285 shares of the company’s stock worth $39,000 after acquiring an additional 780 shares during the period. Institutional investors and hedge funds own 66.97% of the company’s stock.

News Stock Down 0.1%

Shares of NASDAQ NWSA opened at $27.02 on Friday. The company has a quick ratio of 1.69, a current ratio of 1.81 and a debt-to-equity ratio of 0.20. News Corporation has a 52 week low of $22.20 and a 52 week high of $31.61. The firm has a 50-day moving average price of $24.86 and a 200 day moving average price of $25.39. The stock has a market capitalization of $15.01 billion, a price-to-earnings ratio of 13.44 and a beta of 0.89.

News (NASDAQ:NWSA) last posted its 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. News had a net margin of 12.92% and a return on equity of 6.10%. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period last year, the firm posted $0.17 EPS. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. Equities research analysts anticipate that News Corporation will post 0.97 EPS for the current fiscal year.

Analyst Ratings Changes

NWSA has been the subject of several recent analyst reports. Citigroup reduced their target price on shares of News from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Monday, February 9th. Zacks Research upgraded shares of News from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 5th. Wall Street Zen cut shares of News from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Morgan Stanley set a $32.40 price objective on shares of News in a research note on Friday, February 6th. Finally, Weiss Ratings upgraded shares of News from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, April 24th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, News currently has an average rating of “Moderate Buy” and an average target price of $37.02.

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.