Korea Investment CORP Increases Stock Position in News Corporation $NWSA

Korea Investment CORP lifted its holdings in News Corporation (NASDAQ:NWSA) by 16.4% during the second quarter, Holdings Channel reports. The institutional investor owned 251,662 shares of the company’s stock after purchasing an additional 35,500 shares during the quarter. Korea Investment CORP’s holdings in News were worth $7,479,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Cullen Frost Bankers Inc. acquired a new position in shares of News during the 2nd quarter worth $30,000. Caitong International Asset Management Co. Ltd boosted its holdings in News by 12,084.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,584 shares of the company’s stock worth $43,000 after buying an additional 1,571 shares in the last quarter. SVB Wealth LLC acquired a new position in News during the first quarter worth about $73,000. Allworth Financial LP increased its holdings in News by 160.1% in the second quarter. Allworth Financial LP now owns 3,361 shares of the company’s stock valued at $100,000 after buying an additional 2,069 shares in the last quarter. Finally, True Wealth Design LLC lifted its position in shares of News by 661.1% during the 2nd quarter. True Wealth Design LLC now owns 3,448 shares of the company’s stock valued at $102,000 after acquiring an additional 2,995 shares during the period. Hedge funds and other institutional investors own 66.97% of the company’s stock.

News Trading Down 0.6%

Shares of NWSA stock opened at $25.52 on Tuesday. The company has a market capitalization of $14.33 billion, a price-to-earnings ratio of 12.33 and a beta of 0.97. The company has a current ratio of 1.76, a quick ratio of 1.63 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average price of $26.81 and a 200 day moving average price of $28.29. News Corporation has a twelve month low of $23.38 and a twelve month high of $31.61.

News (NASDAQ:NWSA) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $2.11 billion. During the same period in the previous year, the firm posted $0.21 EPS. News’s revenue was down 16.8% on a year-over-year basis. Research analysts forecast that News Corporation will post 0.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NWSA. JPMorgan Chase & Co. reduced their price objective on News from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Tuesday, November 25th. Zacks Research lowered shares of News from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of News in a research note on Wednesday, October 8th. Macquarie restated a “neutral” rating and set a $32.70 target price on shares of News in a research report on Wednesday, August 6th. Finally, Guggenheim reduced their price target on shares of News from $45.00 to $43.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.95.

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.