SEB Asset Management AB Buys Shares of 111,799 News Corporation $NWSA

SEB Asset Management AB purchased a new position in News Corporation (NASDAQ:NWSA) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 111,799 shares of the company’s stock, valued at approximately $2,787,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NWSA. Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in News by 4.5% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 11,521 shares of the company’s stock valued at $301,000 after buying an additional 496 shares during the period. Farther Finance Advisors LLC lifted its holdings in News by 23.2% during the fourth quarter. Farther Finance Advisors LLC now owns 2,648 shares of the company’s stock worth $69,000 after buying an additional 498 shares during the period. Coldstream Capital Management Inc. lifted its holdings in News by 5.9% during the third quarter. Coldstream Capital Management Inc. now owns 10,139 shares of the company’s stock worth $311,000 after buying an additional 563 shares during the period. Handelsbanken Fonder AB boosted its position in News by 0.4% during the 4th quarter. Handelsbanken Fonder AB now owns 151,100 shares of the company’s stock valued at $3,947,000 after acquiring an additional 600 shares in the last quarter. Finally, Patton Fund Management Inc. increased its holdings in shares of News by 7.8% in the 4th quarter. Patton Fund Management Inc. now owns 8,753 shares of the company’s stock valued at $229,000 after acquiring an additional 634 shares during the period. 66.97% of the stock is currently owned by institutional investors.

News Stock Performance

Shares of NWSA opened at $26.33 on Friday. 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 firm has a market cap of $14.41 billion, a PE ratio of 13.10 and a beta of 0.89. News Corporation has a 12 month low of $22.20 and a 12 month high of $31.61. The stock has a fifty day moving average price of $26.44 and a 200-day moving average price of $25.56.

News (NASDAQ:NWSA) last announced its 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. News had a return on equity of 6.12% and a net margin of 12.92%.The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the previous year, the business earned $0.17 EPS. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. Equities research analysts predict that News Corporation will post 0.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on NWSA shares. Weiss Ratings raised News from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Morgan Stanley reiterated an “overweight” rating and issued a $34.00 target price on shares of News in a research note on Sunday, May 10th. Citigroup reduced their target price on shares of News from $39.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Zacks Research raised shares of News from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 9th. Finally, Wall Street Zen upgraded shares of News from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $37.14.

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.