Hsbc Holdings PLC Sells 50,182 Shares of News Corporation $NWS

Hsbc Holdings PLC trimmed its holdings in News Corporation (NASDAQ:NWS) by 18.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 218,167 shares of the company’s stock after selling 50,182 shares during the quarter. Hsbc Holdings PLC’s holdings in News were worth $6,237,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. NewEdge Advisors LLC bought a new position in shares of News during the 2nd quarter valued at $30,000. ExodusPoint Capital Management LP acquired a new position in News during the fourth quarter worth $37,000. Arax Advisory Partners acquired a new position in News during the fourth quarter worth $47,000. Resona Asset Management Co. Ltd. raised its holdings in News by 69.0% during the fourth quarter. Resona Asset Management Co. Ltd. now owns 1,629 shares of the company’s stock valued at $49,000 after buying an additional 665 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of News by 74.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,056 shares of the company’s stock worth $62,000 after buying an additional 878 shares during the last quarter. Institutional investors and hedge funds own 14.63% of the company’s stock.

Analysts Set New Price Targets

NWS has been the subject of several recent analyst reports. Zacks Research upgraded News from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 1st. Weiss Ratings upgraded News from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Strong Buy”.

News Stock Performance

Shares of NWS opened at $29.75 on Friday. The company has a market capitalization of $16.29 billion, a PE ratio of 14.80 and a beta of 0.88. News Corporation has a one year low of $25.49 and a one year high of $35.58. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.70 and a quick ratio of 1.59. The company’s fifty day moving average price is $30.09 and its 200 day moving average price is $29.16.

News (NASDAQ:NWS) last released its earnings results on Thursday, May 7th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.07. The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.12 billion. News had a net margin of 12.92% and a return on equity of 6.12%. As a group, analysts expect that News Corporation will post 0.96 earnings per share for the current year.

About News

News Corporation (NASDAQ: NWS) is a global media and information services company engaged in news and digital real estate, book publishing and other media businesses. The company’s operations include print and digital newsbrands, business and financial information services, consumer platforms for property listings, and a major book publishing arm. Through its subsidiaries and brands, News Corp produces news content, market and financial reporting, online real-estate marketplaces and trade and consumer publishing products.

Key areas of activity include news and information, where the company publishes national and regional newspapers and operates business information services; book publishing through a well-known global publisher; and property-related digital businesses that operate online marketplaces for real estate listings.