DeepCurrents Investment Group LLC Has $6.82 Million Stake in News Corporation $NWSA

DeepCurrents Investment Group LLC trimmed its position in shares of News Corporation (NASDAQ:NWSA) by 21.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 261,103 shares of the company’s stock after selling 71,101 shares during the period. DeepCurrents Investment Group LLC’s holdings in News were worth $6,820,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. State Street Corp lifted its holdings in shares of News by 16.5% during the 3rd quarter. State Street Corp now owns 31,356,593 shares of the company’s stock valued at $965,673,000 after buying an additional 4,448,929 shares during the last quarter. Barclays PLC lifted its holdings in News by 39.5% in the 3rd quarter. Barclays PLC now owns 14,875,615 shares of the company’s stock worth $456,830,000 after purchasing an additional 4,214,562 shares during the last quarter. 59 North Capital Management LP lifted its holdings in News by 10.7% in the 3rd quarter. 59 North Capital Management LP now owns 14,009,242 shares of the company’s stock worth $430,224,000 after purchasing an additional 1,358,375 shares during the last quarter. Geode Capital Management LLC lifted its holdings in News by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 10,458,034 shares of the company’s stock worth $272,169,000 after purchasing an additional 88,157 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in News by 11.7% in the 3rd quarter. AQR Capital Management LLC now owns 9,072,194 shares of the company’s stock worth $278,607,000 after purchasing an additional 947,687 shares during the last quarter. 66.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Zacks Research upgraded News from a “strong sell” rating to a “hold” rating in a report on Thursday, March 5th. Weiss Ratings upgraded News from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. Morgan Stanley restated an “overweight” rating and issued a $34.00 target price on shares of News in a report on Sunday, May 10th. Citigroup reduced their target price on News from $39.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Finally, Wall Street Zen upgraded News from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.14.

News Stock Down 2.4%

Shares of NWSA stock opened at $25.68 on Friday. News Corporation has a 12 month low of $22.20 and a 12 month high of $31.61. The firm has a market cap of $14.06 billion, a PE ratio of 12.78 and a beta of 0.88. The stock has a 50 day moving average of $26.04 and a 200-day moving average of $25.46. 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:NWSA) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.05. News had a return on equity of 6.12% and a net margin of 12.92%.The company had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same period in the previous year, the company earned $0.17 earnings per share. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, equities analysts predict that News Corporation will post 0.92 EPS for the current year.

News Company Profile

News Corporation (NASDAQ: NWSA) is a global diversified media and information services company headquartered in New York City. It operates through two principal segments: News and Information Services, and Digital Real Estate Services. The company’s news and information division oversees a portfolio of leading newspapers, magazines and digital platforms, offering content across print and online channels. Its properties include Dow Jones, publisher of The Wall Street Journal and Barron’s, News UK titles such as The Times and The Sun, as well as News Corp Australia mastheads.

In addition to its journalism assets, News Corp is a significant player in book publishing through HarperCollins, one of the world’s largest consumer publishers.