Swedbank AB Buys 83,821 Shares of News Corporation $NWSA

Swedbank AB increased its holdings in shares of News Corporation (NASDAQ:NWSA) by 77.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 192,326 shares of the company’s stock after buying an additional 83,821 shares during the quarter. Swedbank AB’s holdings in News were worth $5,024,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CYBER HORNET ETFs LLC purchased a new position in News during the 2nd quarter worth $30,000. Caitong International Asset Management Co. Ltd purchased a new position in News during the 3rd quarter worth $31,000. Root Financial Partners LLC purchased a new position in News during the 3rd quarter worth $35,000. Advisory Services Network LLC purchased a new position in News during the 3rd quarter worth $35,000. Finally, Brown Brothers Harriman & Co. grew its stake in News by 154.5% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,285 shares of the company’s stock worth $39,000 after buying an additional 780 shares during the last quarter. 66.97% of the stock is currently owned by hedge funds and other institutional investors.

News Stock Up 1.2%

NWSA stock opened at $26.20 on Wednesday. The firm’s fifty day simple moving average is $25.44 and its 200-day simple moving average is $25.39. The company has a market capitalization of $14.34 billion, a P/E ratio of 13.03 and a beta of 0.89. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.70 and a quick ratio of 1.59. News Corporation has a 12 month low of $22.20 and a 12 month high of $31.61.

News (NASDAQ:NWSA) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.16 by $0.05. The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.11 billion. News had a net margin of 12.92% and a return on equity of 6.12%. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.17 EPS. As a group, equities research analysts forecast that News Corporation will post 0.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on NWSA shares. Zacks Research upgraded News from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 5th. Morgan Stanley restated an “overweight” rating and set a $34.00 target price on shares of News in a research note on Sunday, May 10th. Wall Street Zen upgraded News from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Weiss Ratings downgraded News from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Finally, Citigroup dropped their price target on News from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, May 13th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.14.

News Company Profile

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.