Savant Capital LLC Purchases 79,693 Shares of News Corporation $NWSA

Savant Capital LLC lifted its position in News Corporation (NASDAQ:NWSA) by 386.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 100,311 shares of the company’s stock after buying an additional 79,693 shares during the period. Savant Capital LLC’s holdings in News were worth $2,981,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Patton Fund Management Inc. bought a new position in shares of News in the 2nd quarter worth $241,000. Charles Schwab Investment Management Inc. boosted its position in News by 1.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,492,665 shares of the company’s stock valued at $122,290,000 after purchasing an additional 72,438 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in News in the second quarter valued at about $30,000. Goldman Sachs Group Inc. raised its holdings in News by 34.2% in the first quarter. Goldman Sachs Group Inc. now owns 4,450,150 shares of the company’s stock worth $121,133,000 after purchasing an additional 1,133,004 shares in the last quarter. Finally, Krilogy Financial LLC purchased a new stake in shares of News during the second quarter valued at about $364,000. 66.97% of the stock is currently owned by institutional investors.

News Trading Up 0.3%

Shares of News stock opened at $26.80 on Tuesday. News Corporation has a 12-month low of $23.38 and a 12-month high of $31.61. The firm’s 50 day simple moving average is $28.01 and its two-hundred day simple moving average is $28.50. 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 market capitalization of $15.14 billion, a price-to-earnings ratio of 12.95 and a beta of 1.15.

News (NASDAQ:NWSA) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.04. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.11 billion. News had a net margin of 13.80% and a return on equity of 5.68%. The business’s quarterly revenue was down 16.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.21 earnings per share. Analysts predict that News Corporation will post 0.94 EPS for the current year.

Wall Street Analyst Weigh In

NWSA has been the topic of a number of analyst reports. Zacks Research downgraded shares of News from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 23rd. Macquarie reaffirmed a “neutral” rating and issued a $32.70 price target on shares of News in a report on Wednesday, August 6th. JPMorgan Chase & Co. increased their price objective on News from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of News in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.62.

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.