517,059 Shares in News Corporation $NWS Acquired by Norges Bank

Norges Bank bought a new position in News Corporation (NASDAQ:NWS) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 517,059 shares of the company’s stock, valued at approximately $15,320,000. Norges Bank owned approximately 0.09% of News as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of NWS. Royal Bank of Canada boosted its stake in News by 25.8% in the 1st quarter. Royal Bank of Canada now owns 64,630 shares of the company’s stock worth $1,962,000 after purchasing an additional 13,253 shares in the last quarter. AQR Capital Management LLC boosted its stake in News by 44.2% in the 1st quarter. AQR Capital Management LLC now owns 26,873 shares of the company’s stock worth $816,000 after purchasing an additional 8,241 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in News by 10.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,071 shares of the company’s stock worth $215,000 after purchasing an additional 655 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in News by 1.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 307,560 shares of the company’s stock worth $9,341,000 after purchasing an additional 5,285 shares in the last quarter. Finally, Empowered Funds LLC acquired a new stake in News in the 1st quarter worth approximately $287,000. 14.63% of the stock is currently owned by institutional investors and hedge funds.

News Stock Performance

Shares of NASDAQ NWS opened at $31.06 on Wednesday. The company has a current ratio of 1.70, a quick ratio of 1.59 and a debt-to-equity ratio of 0.21. News Corporation has a 12 month low of $25.49 and a 12 month high of $35.58. The company has a 50 day simple moving average of $29.82 and a two-hundred day simple moving average of $29.04. The stock has a market cap of $17.00 billion, a price-to-earnings ratio of 15.45 and a beta of 0.87.

News (NASDAQ:NWS) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.14 by $0.07. News had a net margin of 12.92% and a return on equity of 6.12%. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.12 billion. As a group, analysts predict that News Corporation will post 0.96 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Zacks Research cut shares of News from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Weiss Ratings upgraded shares of News from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

News Company Profile

News Corporation (NASDAQ: NWS) is a global media and information services company engaged in news and digital real estate, book publishing and other media businesses. The company’s operations include print and digital newsbrands, business and financial information services, consumer platforms for property listings, and a major book publishing arm. Through its subsidiaries and brands, News Corp produces news content, market and financial reporting, online real-estate marketplaces and trade and consumer publishing products.

Key areas of activity include news and information, where the company publishes national and regional newspapers and operates business information services; book publishing through a well-known global publisher; and property-related digital businesses that operate online marketplaces for real estate listings.