Gamco Investors INC. ET AL Has $4.15 Million Stock Position in News Corporation $NWSA

Gamco Investors INC. ET AL cut its holdings in News Corporation (NASDAQ:NWSA) by 17.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 166,349 shares of the company’s stock after selling 34,685 shares during the quarter. Gamco Investors INC. ET AL’s holdings in News were worth $4,147,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. CYBER HORNET ETFs LLC acquired a new position in shares of News during the 2nd quarter valued at $30,000. Caitong International Asset Management Co. Ltd acquired a new stake in News in the third quarter worth $31,000. Advisory Services Network LLC bought a new stake in News in the third quarter valued at $35,000. Brown Brothers Harriman & Co. raised its holdings in shares of News by 154.5% during the third quarter. Brown Brothers Harriman & Co. now owns 1,285 shares of the company’s stock valued at $39,000 after purchasing an additional 780 shares during the period. Finally, Global Retirement Partners LLC boosted its position 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 purchasing an additional 1,470 shares in the last quarter. 66.97% of the stock is currently owned by institutional investors.

News Trading Up 2.0%

NASDAQ NWSA opened at $27.30 on Tuesday. The company has a current ratio of 1.70, a quick ratio of 1.59 and a debt-to-equity ratio of 0.21. The business has a fifty day simple moving average of $26.48 and a 200 day simple moving average of $25.57. News Corporation has a 12 month low of $22.20 and a 12 month high of $31.61. The firm has a market capitalization of $14.95 billion, a P/E ratio of 13.58 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 (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.05. News had a net margin of 12.92% and a return on equity of 6.12%. The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the prior year, the business posted $0.17 EPS. The business’s revenue was up 8.8% compared to the same quarter last year. On average, analysts predict that News Corporation will post 0.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Zacks Research raised News from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 9th. Weiss Ratings upgraded News from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Citigroup decreased their price objective on News from $39.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Morgan Stanley reaffirmed an “overweight” rating and set a $34.00 target price on shares of News in a research report on Sunday, May 10th. Finally, Wall Street Zen raised shares of News from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, News has an average rating of “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.