Wealth Enhancement Advisory Services LLC Raises Position in News Corporation (NASDAQ:NWSA)

Wealth Enhancement Advisory Services LLC grew its holdings in News Corporation (NASDAQ:NWSA) by 103.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,344 shares of the company’s stock after acquiring an additional 11,898 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in News were worth $635,000 as of its most recent filing with the Securities & Exchange Commission.

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

News Stock Performance

Shares of NWSA opened at $29.24 on Friday. The company has a market capitalization of $16.55 billion, a price-to-earnings ratio of 34.00 and a beta of 1.23. 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. The stock has a 50 day moving average price of $28.18 and a 200 day moving average price of $27.74.

News (NASDAQ:NWSA) last issued its earnings results on Thursday, May 8th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.02). The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2 billion. News had a net margin of 5.18% and a return on equity of 5.64%. The company’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.13 EPS. Research analysts predict that News Corporation will post 0.94 EPS for the current fiscal year.

Analyst Ratings Changes

NWSA has been the subject of a number of recent research reports. Morgan Stanley decreased their price target on shares of News from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Guggenheim reaffirmed a “buy” rating and set a $45.00 price objective on shares of News in a research report on Thursday, May 15th. Finally, Wall Street Zen downgraded shares of News from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, News presently has a consensus rating of “Buy” and an average target price of $39.20.

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.