BI Asset Management Fondsmaeglerselskab A S Raises Position in News Corporation $NWSA

BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of News Corporation (NASDAQ:NWSA) by 153.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,934 shares of the company’s stock after buying an additional 37,512 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in News were worth $1,544,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd purchased a new stake in News in the third quarter valued at approximately $31,000. CYBER HORNET ETFs LLC purchased a new position in News in the 2nd quarter worth approximately $30,000. Advisory Services Network LLC bought a new position in shares of News in the 3rd quarter worth $35,000. Brown Brothers Harriman & Co. raised its position in shares of News by 154.5% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,285 shares of the company’s stock valued at $39,000 after buying an additional 780 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its holdings 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 worth $45,000 after acquiring an additional 1,470 shares during the last quarter. 66.97% of the stock is currently owned by institutional investors.

News Price Performance

Shares of NASDAQ:NWSA opened at $25.27 on Thursday. The company’s fifty day moving average is $26.17 and its 200 day moving average is $25.45. The company has a quick ratio of 1.59, a current ratio of 1.70 and a debt-to-equity ratio of 0.21. News Corporation has a 52 week low of $22.20 and a 52 week high of $31.61. The stock has a market cap of $13.83 billion, a PE ratio of 12.57 and a beta of 0.88.

News (NASDAQ:NWSA) last announced its quarterly earnings data 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 firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.11 billion. News had a return on equity of 6.12% and a net margin of 12.92%.The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period last year, the firm earned $0.17 earnings per share. Research analysts anticipate that News Corporation will post 0.92 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on NWSA shares. Zacks Research raised News from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 5th. Wall Street Zen raised News from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Morgan Stanley reiterated an “overweight” rating and set a $34.00 price objective on shares of News in a research report on Sunday, May 10th. Citigroup decreased their price objective on News from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Finally, Weiss Ratings raised News from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, News presently has an average rating of “Moderate Buy” and a consensus target price of $37.14.

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.