News Corporation $NWSA Shares Bought by Avanza Fonder AB

Avanza Fonder AB grew its position in shares of News Corporation (NASDAQ:NWSA) by 98.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,153 shares of the company’s stock after purchasing an additional 24,862 shares during the period. Avanza Fonder AB’s holdings in News were worth $1,310,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new stake in News during the 3rd quarter worth $31,000. CYBER HORNET ETFs LLC purchased a new position in News in the 2nd quarter valued at about $30,000. Root Financial Partners LLC acquired a new stake in shares of News during the third quarter valued at about $35,000. Advisory Services Network LLC acquired a new stake in shares of News during the third quarter valued at about $35,000. Finally, Brown Brothers Harriman & Co. increased its position in shares of News by 154.5% during the third quarter. Brown Brothers Harriman & Co. now owns 1,285 shares of the company’s stock worth $39,000 after acquiring 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 Down 1.2%

Shares of News stock opened at $23.97 on Wednesday. The business has a 50-day moving average price of $24.55 and a 200 day moving average price of $26.11. News Corporation has a fifty-two week low of $22.20 and a fifty-two week high of $31.61. The firm has a market cap of $13.31 billion, a P/E ratio of 11.81 and a beta of 0.98. The company has a quick ratio of 1.69, a current ratio of 1.81 and a debt-to-equity ratio of 0.20.

News (NASDAQ:NWSA) last released its earnings results on Thursday, February 5th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.07. News had a return on equity of 5.94% and a net margin of 13.35%.The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter last year, the business posted $0.33 EPS. News’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, sell-side analysts forecast that News Corporation will post 0.94 earnings per share for the current fiscal year.

News Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 11th will be issued a $0.10 dividend. This represents a yield of 83.0%. The ex-dividend date of this dividend is Wednesday, March 11th. News’s payout ratio is currently 9.85%.

Analyst Ratings Changes

NWSA has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on News from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Tuesday, November 25th. Wall Street Zen downgraded News from a “buy” rating to a “hold” rating in a report on Monday. Zacks Research raised News from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 5th. Citigroup decreased their price target on shares of News from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Monday, February 9th. Finally, Weiss Ratings lowered shares of News from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, February 26th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, News currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.02.

About News

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.