SG Americas Securities LLC Makes New $875,000 Investment in News Corporation (NASDAQ:NWSA)

SG Americas Securities LLC bought a new position in News Corporation (NASDAQ:NWSA) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 32,154 shares of the company’s stock, valued at approximately $875,000.

Several other large investors have also recently modified their holdings of the business. Norges Bank purchased a new position in News during the fourth quarter valued at approximately $172,357,000. Asset Value Investors Ltd bought a new stake in shares of News in the 4th quarter worth approximately $122,391,000. Deutsche Bank AG raised its holdings in News by 291.2% during the 4th quarter. Deutsche Bank AG now owns 4,941,467 shares of the company’s stock valued at $136,088,000 after buying an additional 3,678,215 shares during the last quarter. Independent Franchise Partners LLP raised its holdings in News by 11.8% during the 4th quarter. Independent Franchise Partners LLP now owns 26,617,259 shares of the company’s stock valued at $733,039,000 after buying an additional 2,812,080 shares during the last quarter. Finally, 59 North Capital Management LP raised its holdings in News by 40.2% during the 4th quarter. 59 North Capital Management LP now owns 8,962,112 shares of the company’s stock valued at $246,817,000 after buying an additional 2,569,343 shares during the last quarter. Hedge funds and other institutional investors own 66.97% of the company’s stock.

Analyst Upgrades and Downgrades

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

News Stock Up 1.1%

Shares of NWSA opened at $28.06 on Thursday. The company has a market cap of $15.89 billion, a PE ratio of 32.63 and a beta of 1.23. The business has a fifty day moving average of $27.49 and a 200 day moving average of $27.75. News Corporation has a 52-week low of $23.38 and a 52-week high of $30.69. The company has a quick ratio of 1.60, a current ratio of 1.68 and a debt-to-equity ratio of 0.21.

News (NASDAQ:NWSA) last released its earnings results on Thursday, May 8th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.02). The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2 billion. News had a return on equity of 5.64% and a net margin of 5.18%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the business posted $0.13 earnings per share. On average, sell-side analysts expect that News Corporation will post 0.94 EPS for the current year.

News Company Profile

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.