Hsbc Holdings PLC Purchases 85,624 Shares of News Corporation $NWSA

Hsbc Holdings PLC raised its position in News Corporation (NASDAQ:NWSA) by 12.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 763,163 shares of the company’s stock after purchasing an additional 85,624 shares during the quarter. Hsbc Holdings PLC’s holdings in News were worth $19,959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of News during the 4th quarter worth about $188,788,000. AQR Capital Management LLC lifted its stake in News by 488.0% in the 2nd quarter. AQR Capital Management LLC now owns 8,124,507 shares of the company’s stock valued at $241,054,000 after purchasing an additional 6,742,836 shares during the last quarter. Bank of Montreal Can grew its holdings in News by 2,348.9% during the fourth quarter. Bank of Montreal Can now owns 5,664,644 shares of the company’s stock worth $147,961,000 after purchasing an additional 5,433,332 shares during the period. State Street Corp increased its position in News by 16.5% during the third quarter. State Street Corp now owns 31,356,593 shares of the company’s stock worth $965,673,000 after buying an additional 4,448,929 shares during the last quarter. Finally, Barclays PLC increased its position in News by 39.5% during the third quarter. Barclays PLC now owns 14,875,615 shares of the company’s stock worth $456,830,000 after buying an additional 4,214,562 shares during the last quarter. Institutional investors own 66.97% of the company’s stock.

News Price Performance

News stock opened at $25.27 on Thursday. News Corporation has a 12 month low of $22.20 and a 12 month high of $31.61. The stock’s 50 day moving average is $26.17 and its 200-day moving average is $25.45. The company has a current ratio of 1.70, a quick ratio of 1.59 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $13.83 billion, a price-to-earnings ratio of 12.57 and a beta of 0.88.

News (NASDAQ:NWSA) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.05. The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.11 billion. News had a return on equity of 6.12% and a net margin of 12.92%.The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period last year, the firm posted $0.17 EPS. Equities research analysts expect that News Corporation will post 0.92 EPS for the current year.

Wall Street Analysts Forecast Growth

NWSA has been the subject of a number of recent analyst reports. Weiss Ratings raised News from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 27th. Morgan Stanley reissued an “overweight” rating and set a $34.00 target price on shares of News in a report on Sunday, May 10th. Wall Street Zen upgraded News from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Citigroup cut their price target on News from $39.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Finally, Zacks Research raised shares of News from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 5th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.14.

News 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.