Mirae Asset Global Investments Co. Ltd. Acquires 30,414 Shares of News Corporation $NWS

Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of News Corporation (NASDAQ:NWS) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 30,414 shares of the company’s stock, valued at approximately $965,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NWS. Dimensional Fund Advisors LP raised its stake in News by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,761,977 shares of the company’s stock valued at $50,233,000 after purchasing an additional 46,837 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of News by 102.7% during the 1st quarter. Bank of America Corp DE now owns 844,576 shares of the company’s stock worth $24,079,000 after purchasing an additional 427,841 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of News by 0.3% during the first quarter. Bank of New York Mellon Corp now owns 699,074 shares of the company’s stock worth $19,931,000 after buying an additional 2,193 shares in the last quarter. Quantinno Capital Management LP grew its holdings in shares of News by 128.0% during the first quarter. Quantinno Capital Management LP now owns 681,468 shares of the company’s stock worth $19,429,000 after buying an additional 382,644 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of News by 118.0% during the first quarter. Sei Investments Co. now owns 243,153 shares of the company’s stock worth $6,932,000 after buying an additional 131,592 shares in the last quarter. Hedge funds and other institutional investors own 14.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NWS. Weiss Ratings raised shares of News from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, October 26th. Zacks Research lowered News from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, News currently has an average rating of “Moderate Buy”.

News Price Performance

NWS stock opened at $28.96 on Monday. The stock has a 50-day moving average price of $32.63 and a two-hundred day moving average price of $30.46. The company has a market cap of $15.67 billion, a PE ratio of 25.86 and a beta of 1.00. The company has a current ratio of 1.62, a quick ratio of 1.50 and a debt-to-equity ratio of 0.22. News Corporation has a 12-month low of $25.49 and a 12-month high of $35.76.

News (NASDAQ:NWS) last released its quarterly earnings data on Wednesday, November 4th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.02. News had a return on equity of 7.42% and a net margin of 6.76%. The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.27 billion. As a group, research analysts predict that News Corporation will post 1.38 EPS for the current year.

News Profile

News Corporation, which trades on Nasdaq as NWS, is a global media and information services company. Its businesses span news and financial information, book publishing, digital real estate services, and news media.

Its brands and operations include Dow Jones, publisher of The Wall Street Journal and provider of financial information; HarperCollins Publishers; digital real estate platforms such as Realtor.com; and news outlets including the New York Post, The Times and The Sun in the United Kingdom, and publications in Australia.

News Corp serves audiences and customers primarily in the United States, the United Kingdom and Australia, with additional international operations.