News Co. (NASDAQ:NWSA) Shares Acquired by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd raised its stake in News Co. (NASDAQ:NWSA) by 13.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 71,290 shares of the company’s stock after buying an additional 8,624 shares during the quarter. Point72 Hong Kong Ltd’s holdings in News were worth $1,963,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in NWSA. Quantinno Capital Management LP increased its holdings in shares of News by 4.0% during the fourth quarter. Quantinno Capital Management LP now owns 132,069 shares of the company’s stock valued at $3,637,000 after purchasing an additional 5,126 shares during the period. Mufg Securities Americas Inc. acquired a new position in shares of News during the fourth quarter valued at $154,000. Man Group plc increased its holdings in shares of News by 260.5% during the fourth quarter. Man Group plc now owns 265,757 shares of the company’s stock valued at $7,319,000 after purchasing an additional 192,033 shares during the period. Nomura Holdings Inc. acquired a new position in shares of News during the fourth quarter valued at $344,000. Finally, Maven Securities LTD increased its holdings in shares of News by 14.1% during the fourth quarter. Maven Securities LTD now owns 282,841 shares of the company’s stock valued at $7,789,000 after purchasing an additional 35,005 shares during the period. 66.97% of the stock is currently owned by institutional investors.

News Trading Down 0.4%

NASDAQ:NWSA opened at $28.15 on Friday. The company has a quick ratio of 1.65, a current ratio of 1.73 and a debt-to-equity ratio of 0.22. News Co. has a 1-year low of $23.38 and a 1-year high of $30.69. The firm has a market capitalization of $15.97 billion, a price-to-earnings ratio of 38.56 and a beta of 1.30. The stock has a fifty day simple moving average of $26.74 and a 200 day simple moving average of $27.86.

News (NASDAQ:NWSA) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). News had a net margin of 4.22% and a return on equity of 5.31%. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2 billion. During the same quarter last year, the business earned $0.13 EPS. The company’s revenue for the quarter was up .8% compared to the same quarter last year. Sell-side analysts forecast that News Co. will post 0.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NWSA. StockNews.com raised News from a “hold” rating to a “buy” rating in a report on Wednesday. UBS Group raised News from a “neutral” rating to a “buy” rating in a report on Tuesday, February 4th. Seaport Res Ptn raised News to a “strong-buy” rating in a report on Friday, January 31st. Morgan Stanley lowered their target price on News from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. Finally, Guggenheim lifted their target price on News from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $38.80.

About News

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 through six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.