Mirae Asset Global Investments Co. Ltd. Acquires 94,137 Shares of News Corporation $NWSA

Mirae Asset Global Investments Co. Ltd. acquired a new stake in News Corporation (NASDAQ:NWSA) during the third quarter, according to its most recent filing with the SEC. The firm acquired 94,137 shares of the company’s stock, valued at approximately $2,697,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. NewEdge Advisors LLC boosted its stake in News by 41.0% in the second quarter. NewEdge Advisors LLC now owns 216,552 shares of the company’s stock valued at $5,377,000 after acquiring an additional 62,999 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of News during the 2nd quarter valued at $2,845,000. Nykredit A S bought a new stake in shares of News during the 2nd quarter valued at $1,807,000. Sei Investments Co. lifted its stake in shares of News by 120.6% in the 1st quarter. Sei Investments Co. now owns 2,326,616 shares of the company’s stock valued at $58,002,000 after purchasing an additional 1,272,083 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of News by 2.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,245,597 shares of the company’s stock valued at $105,842,000 after purchasing an additional 94,368 shares during the period. 66.97% of the stock is owned by institutional investors and hedge funds.

News Trading Down 0.3%

Shares of NASDAQ:NWSA opened at $26.39 on Friday. The firm has a market cap of $14.28 billion, a price-to-earnings ratio of 23.56 and a beta of 1.01. News Corporation has a 12 month low of $22.20 and a 12 month high of $31.66. The company’s fifty day simple moving average is $29.57 and its 200 day simple moving average is $26.96. The company has a quick ratio of 1.51, a current ratio of 1.62 and a debt-to-equity ratio of 0.22.

News (NASDAQ:NWSA) last released its earnings results on Wednesday, November 4th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. News had a return on equity of 7.42% and a net margin of 6.76%. The firm had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the prior year, the company earned $0.22 EPS. The company’s revenue was up 6.4% on a year-over-year basis. As a group, research analysts forecast that News Corporation will post 1.34 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on NWSA shares. Zacks Research cut News from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. Morgan Stanley reiterated an “overweight” rating and issued a $35.00 price target on shares of News in a research report on Thursday, August 6th. Raymond James Financial assumed coverage on shares of News in a research note on Monday, October 19th. They set an “outperform” rating and a $35.00 price objective on the stock. Weiss Ratings upgraded shares of News from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, October 12th. Finally, Wall Street Zen raised shares of News from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $37.80.

News Profile

News Corporation is a global media and information services company. Its businesses include Dow Jones, which provides financial news and data through outlets such as The Wall Street Journal; HarperCollins, a book publisher; and News Corp’s news media operations, which publish newspapers and digital news services.

The company also operates digital real estate businesses, including Realtor.com in the United States and REA Group in Australia. Its brands and services reach audiences and customers across the Americas, Europe, Australia and other international markets.

News Corporation was formed in 2013 when the former News Corporation separated its publishing and media operations from its entertainment businesses.