Creative Planning Raises Holdings in News Corporation $NWSA

Creative Planning lifted its position in News Corporation (NASDAQ:NWSA) by 31.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 64,921 shares of the company’s stock after purchasing an additional 15,571 shares during the period. Creative Planning’s holdings in News were worth $1,929,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its holdings in shares of News by 37.4% during the first quarter. Envestnet Asset Management Inc. now owns 33,385 shares of the company’s stock worth $909,000 after purchasing an additional 9,091 shares during the period. Choreo LLC bought a new position in News during the 1st quarter valued at approximately $230,000. Skandinaviska Enskilda Banken AB publ lifted its holdings in News by 6.0% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 86,597 shares of the company’s stock worth $2,357,000 after buying an additional 4,882 shares during the period. HB Wealth Management LLC increased its stake in shares of News by 9.4% during the first quarter. HB Wealth Management LLC now owns 8,293 shares of the company’s stock valued at $226,000 after buying an additional 716 shares during the period. Finally, Empirical Finance LLC raised its holdings in shares of News by 6.0% during the first quarter. Empirical Finance LLC now owns 13,793 shares of the company’s stock valued at $375,000 after acquiring an additional 782 shares in the last quarter. Institutional investors own 66.97% of the company’s stock.

Wall Street Analysts Forecast Growth

NWSA has been the topic of a number of research analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of News in a research report on Wednesday, October 8th. JPMorgan Chase & Co. decreased their price target on shares of News from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Tuesday. Macquarie reaffirmed a “neutral” rating and set a $32.70 price objective on shares of News in a research report on Wednesday, August 6th. Zacks Research lowered News from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 23rd. Finally, Guggenheim dropped their price target on News from $45.00 to $43.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $37.95.

News Price Performance

NWSA stock opened at $25.41 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.63 and a current ratio of 1.76. The firm has a 50 day moving average price of $27.21 and a 200-day moving average price of $28.36. News Corporation has a 52-week low of $23.38 and a 52-week high of $31.61. The firm has a market capitalization of $14.27 billion, a price-to-earnings ratio of 12.28 and a beta of 1.15.

News (NASDAQ:NWSA) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.04. News had a return on equity of 5.68% and a net margin of 13.80%.The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same quarter last year, the company earned $0.21 EPS. The firm’s revenue for the quarter was down 16.8% on a year-over-year basis. Equities research analysts forecast that News Corporation will post 0.94 EPS for the current fiscal year.

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.