iA Global Asset Management Inc. Takes $757,000 Position in News Corporation $NWSA

iA Global Asset Management Inc. bought a new position in News Corporation (NASDAQ:NWSA) in the 1st quarter, HoldingsChannel reports. The fund bought 30,348 shares of the company’s stock, valued at approximately $757,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in News by 5.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,556 shares of the company’s stock valued at $1,022,000 after buying an additional 1,950 shares during the period. United Services Automobile Association purchased a new stake in News in the 1st quarter worth about $206,000. Empowered Funds LLC acquired a new stake in News during the 1st quarter worth about $204,000. Focus Partners Wealth grew its stake in News by 44.4% during the 1st quarter. Focus Partners Wealth now owns 16,618 shares of the company’s stock valued at $452,000 after acquiring an additional 5,106 shares in the last quarter. Finally, Sivia Capital Partners LLC purchased a new position in News during the 2nd quarter valued at about $545,000. Hedge funds and other institutional investors own 66.97% of the company’s stock.

Analyst Upgrades and Downgrades

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

News Stock Up 3.3%

NWSA opened at $26.64 on Friday. The company has a market capitalization of $14.58 billion, a PE ratio of 13.25 and a beta of 0.89. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.70 and a quick ratio of 1.59. News Corporation has a fifty-two week low of $22.20 and a fifty-two week high of $31.61. The business has a 50-day moving average of $26.13 and a 200-day moving average of $25.43.

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

About News

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.