Cibc World Markets Corp Makes New $818,000 Investment in News Co. (NASDAQ:NWSA)

Cibc World Markets Corp acquired a new position in News Co. (NASDAQ:NWSA – Get Rating) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 44,951 shares of the company’s stock, valued at approximately $818,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of NWSA. JPMorgan Chase & Co. lifted its stake in shares of News by 75.2% in the 1st quarter. JPMorgan Chase & Co. now owns 644,612 shares of the company’s stock valued at $14,278,000 after acquiring an additional 276,730 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of News by 11.1% in the 1st quarter. American Century Companies Inc. now owns 35,807 shares of the company’s stock valued at $793,000 after acquiring an additional 3,578 shares during the last quarter. US Bancorp DE lifted its stake in shares of News by 68.1% in the 1st quarter. US Bancorp DE now owns 7,316 shares of the company’s stock valued at $162,000 after acquiring an additional 2,963 shares during the last quarter. Natixis Advisors L.P. lifted its stake in shares of News by 8.2% in the 1st quarter. Natixis Advisors L.P. now owns 32,080 shares of the company’s stock valued at $711,000 after acquiring an additional 2,430 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its stake in shares of News by 22.4% in the 1st quarter. MetLife Investment Management LLC now owns 106,328 shares of the company’s stock valued at $2,355,000 after acquiring an additional 19,490 shares during the last quarter. Institutional investors own 63.84% of the company’s stock.

Insider Buying and Selling at News

In related news, General Counsel David B. Pitofsky sold 23,750 shares of the stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $17.23, for a total value of $409,212.50. Following the completion of the transaction, the general counsel now directly owns 63,956 shares in the company, valued at approximately $1,101,961.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 13.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NWSA. Loop Capital raised News from a “hold” rating to a “buy” rating and boosted their target price for the company from $17.00 to $25.00 in a research note on Wednesday, January 25th. StockNews.com began coverage on News in a research note on Thursday. They set a “hold” rating on the stock.

News Price Performance

NWSA stock opened at $18.58 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.26 and a quick ratio of 1.15. News Co. has a 1 year low of $14.87 and a 1 year high of $21.69. The firm has a 50-day moving average of $17.09 and a 200 day moving average of $17.99. The company has a market cap of $10.65 billion, a P/E ratio of 39.53 and a beta of 1.31.

News (NASDAQ:NWSA – Get Rating) last announced its earnings results on Thursday, May 11th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.03. News had a return on equity of 4.71% and a net margin of 2.64%. The firm had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the prior year, the company earned $0.16 EPS. On average, sell-side analysts forecast that News Co. will post 0.39 EPS for the current year.

About News

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News Corp. is a media and information services company, which engages in the creation and distribution of content and other services. It operates through the following segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other. The Digital Real Estate Services segment refers to the firm’s interest in the REA Group, a company with operations focused on property and property-related advertising and services, as well as financial services.