BNP Paribas Arbitrage SNC increased its holdings in News Co. (NASDAQ:NWSA – Free Report) by 0.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 341,870 shares of the company’s stock after purchasing an additional 960 shares during the period. BNP Paribas Arbitrage SNC owned approximately 0.06% of News worth $6,666,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of NWSA. JPMorgan Chase & Co. increased its holdings in shares of News by 75.2% during the first quarter. JPMorgan Chase & Co. now owns 644,612 shares of the company’s stock worth $14,278,000 after buying an additional 276,730 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of News by 11.1% during the first quarter. American Century Companies Inc. now owns 35,807 shares of the company’s stock worth $793,000 after buying an additional 3,578 shares in the last quarter. US Bancorp DE increased its holdings in shares of News by 68.1% during the first quarter. US Bancorp DE now owns 7,316 shares of the company’s stock worth $162,000 after buying an additional 2,963 shares in the last quarter. Natixis Advisors L.P. increased its holdings in shares of News by 8.2% during the first quarter. Natixis Advisors L.P. now owns 32,080 shares of the company’s stock worth $711,000 after buying an additional 2,430 shares in the last quarter. Finally, MetLife Investment Management LLC increased its holdings in shares of News by 22.4% during the first quarter. MetLife Investment Management LLC now owns 106,328 shares of the company’s stock worth $2,355,000 after buying an additional 19,490 shares in the last quarter. Institutional investors and hedge funds own 65.55% of the company’s stock.
Analyst Ratings Changes
Several analysts have recently commented on NWSA shares. JPMorgan Chase & Co. increased their price target on shares of News from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Thursday, November 16th. StockNews.com cut shares of News from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Morgan Stanley started coverage on shares of News in a research note on Wednesday, August 16th. They set an “overweight” rating and a $27.50 price target on the stock. Finally, Guggenheim increased their price target on shares of News from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, August 14th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $28.38.
News Price Performance
Shares of NWSA stock opened at $21.28 on Tuesday. News Co. has a 52-week low of $15.57 and a 52-week high of $22.32. The stock has a market cap of $12.17 billion, a PE ratio of 85.12 and a beta of 1.35. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.31. The firm’s 50 day moving average price is $20.66 and its two-hundred day moving average price is $19.98.
News (NASDAQ:NWSA – Get Free Report) last announced its quarterly earnings data on Thursday, November 9th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. News had a net margin of 1.40% and a return on equity of 3.40%. The firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.48 billion. During the same period last year, the firm earned $0.12 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. As a group, analysts forecast that News Co. will post 0.73 EPS for the current year.
News Company Profile
News Corporation, a media and information services company, creates and distributes authoritative and engaging content, and other products and services for consumers and businesses worldwide. It operates in six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.
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