Healthcare of Ontario Pension Plan Trust Fund Increases Position in News Corporation $NWS

Healthcare of Ontario Pension Plan Trust Fund increased its position in News Corporation (NASDAQ:NWS) by 2,586.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 131,077 shares of the company’s stock after acquiring an additional 126,198 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in News were worth $3,737,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NewEdge Advisors LLC acquired a new position in shares of News in the second quarter valued at about $30,000. ExodusPoint Capital Management LP purchased a new stake in News in the fourth quarter valued at approximately $37,000. Arax Advisory Partners acquired a new position in News in the 4th quarter worth approximately $47,000. Resona Asset Management Co. Ltd. increased its holdings in News by 69.0% in the 4th quarter. Resona Asset Management Co. Ltd. now owns 1,629 shares of the company’s stock worth $49,000 after buying an additional 665 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in News by 74.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,056 shares of the company’s stock worth $62,000 after buying an additional 878 shares during the last quarter. Institutional investors and hedge funds own 14.63% of the company’s stock.

Analyst Upgrades and Downgrades

NWS has been the topic of several recent research reports. Zacks Research raised shares of News from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 1st. Weiss Ratings raised shares of News from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Strong Buy”.

News Stock Down 2.6%

News stock opened at $31.80 on Friday. The business’s 50-day moving average price is $30.24 and its 200 day moving average price is $29.21. The company has a quick ratio of 1.59, a current ratio of 1.70 and a debt-to-equity ratio of 0.21. The firm has a market cap of $17.41 billion, a price-to-earnings ratio of 15.82 and a beta of 0.88. News Corporation has a 52 week low of $25.49 and a 52 week high of $35.58.

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

About News

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.