CX Institutional Buys New Shares in News Co. (NASDAQ:NWSA)

CX Institutional purchased a new stake in shares of News Co. (NASDAQ:NWSA) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,783 shares of the company’s stock, valued at approximately $76,000.

A number of other hedge funds have also recently bought and sold shares of NWSA. Allspring Global Investments Holdings LLC increased its stake in shares of News by 204.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 344,043 shares of the company’s stock worth $9,447,000 after purchasing an additional 231,056 shares during the last quarter. Asset Management One Co. Ltd. increased its position in News by 0.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 151,693 shares of the company’s stock worth $4,216,000 after buying an additional 820 shares during the last quarter. Savant Capital LLC raised its stake in News by 9.6% in the fourth quarter. Savant Capital LLC now owns 16,076 shares of the company’s stock valued at $443,000 after buying an additional 1,411 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of News in the fourth quarter valued at approximately $1,171,000. Finally, Merit Financial Group LLC bought a new position in shares of News during the 1st quarter worth approximately $245,000. 66.97% of the stock is currently owned by institutional investors.

News Stock Up 3.0%

Shares of NASDAQ NWSA opened at $28.24 on Tuesday. News Co. has a 52 week low of $23.38 and a 52 week high of $30.69. The stock has a market capitalization of $15.99 billion, a P/E ratio of 38.69 and a beta of 1.23. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.65 and a current ratio of 1.73. The stock’s fifty day moving average is $27.42 and its 200 day moving average is $27.74.

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

Analyst Upgrades and Downgrades

A number of research firms have commented on NWSA. Morgan Stanley reduced their price objective on shares of News from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, April 11th. Guggenheim reaffirmed a “buy” rating and set a $45.00 target price on shares of News in a report on Thursday, May 15th. Finally, Wall Street Zen cut shares of News from a “buy” rating to a “hold” rating in a report on Friday, May 30th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, News has a consensus rating of “Buy” and an average target price of $39.20.

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.