Weiss Asset Management LP Makes New Investment in News Corporation $NWS

Weiss Asset Management LP acquired a new position in News Corporation (NASDAQ:NWS) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 189,700 shares of the company’s stock, valued at approximately $5,408,000.

Other institutional investors also recently made changes to their positions in the company. NewEdge Advisors LLC purchased a new position in News in the 2nd quarter worth $30,000. ExodusPoint Capital Management LP purchased a new stake in News during the fourth quarter valued at about $37,000. Arax Advisory Partners bought a new position in shares of News during the fourth quarter valued at about $47,000. Resona Asset Management Co. Ltd. increased its holdings in shares of News by 69.0% in the fourth quarter. Resona Asset Management Co. Ltd. now owns 1,629 shares of the company’s stock worth $49,000 after buying an additional 665 shares during the period. Finally, Smartleaf Asset Management LLC increased its holdings in shares of News by 74.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,056 shares of the company’s stock worth $62,000 after buying an additional 878 shares during the period. Hedge funds and other institutional investors own 14.63% of the company’s stock.

Analyst Ratings Changes

NWS has been the subject of several analyst reports. Zacks Research upgraded News from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 1st. Weiss Ratings upgraded News from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Strong Buy”.

News Price Performance

Shares of News stock opened at $30.19 on Friday. The company’s fifty day simple moving average is $30.10 and its two-hundred day simple moving average is $29.17. News Corporation has a 12-month low of $25.49 and a 12-month high of $35.58. The firm has a market cap of $16.53 billion, a PE ratio of 15.02 and a beta of 0.88. The company has a quick ratio of 1.59, a current ratio of 1.70 and a debt-to-equity ratio of 0.21.

News (NASDAQ:NWS) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.14 by $0.07. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.12 billion. News had a net margin of 12.92% and a return on equity of 6.12%. As a group, equities analysts expect that News Corporation will post 0.96 EPS for the current year.

News Profile

News Corporation (NASDAQ: NWS) is a global media and information services company engaged in news and digital real estate, book publishing and other media businesses. The company’s operations include print and digital newsbrands, business and financial information services, consumer platforms for property listings, and a major book publishing arm. Through its subsidiaries and brands, News Corp produces news content, market and financial reporting, online real-estate marketplaces and trade and consumer publishing products.

Key areas of activity include news and information, where the company publishes national and regional newspapers and operates business information services; book publishing through a well-known global publisher; and property-related digital businesses that operate online marketplaces for real estate listings.