HB Wealth Management LLC Takes $209,000 Position in News Co. (NASDAQ:NWSA)

HB Wealth Management LLC acquired a new position in News Co. (NASDAQ:NWSAFree Report) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 7,577 shares of the company’s stock, valued at approximately $209,000.

Several other institutional investors also recently bought and sold shares of NWSA. Brooklyn Investment Group bought a new position in shares of News during the 3rd quarter worth $39,000. ORG Wealth Partners LLC bought a new stake in shares of News in the third quarter valued at about $79,000. Wilmington Savings Fund Society FSB bought a new position in News during the 3rd quarter worth about $85,000. Exchange Traded Concepts LLC increased its position in News by 1,419.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 5,045 shares of the company’s stock valued at $134,000 after purchasing an additional 4,713 shares during the period. Finally, FNY Investment Advisers LLC bought a new stake in shares of News in the 4th quarter valued at about $137,000. 66.97% of the stock is currently owned by hedge funds and other institutional investors.

News Stock Up 0.8 %

News stock opened at $28.08 on Friday. News Co. has a 1-year low of $22.65 and a 1-year high of $30.03. The business has a fifty day moving average price of $28.33 and a 200-day moving average price of $27.55. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.38 and a quick ratio of 1.26. The stock has a market capitalization of $15.97 billion, a price-to-earnings ratio of 45.29 and a beta of 1.35.

News (NASDAQ:NWSAGet Free Report) last issued its quarterly earnings results on Thursday, November 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 4.76% and a net margin of 3.49%. The business had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter last year, the company earned $0.16 earnings per share. Equities research analysts forecast that News Co. will post 0.91 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Citigroup initiated coverage on shares of News in a research note on Friday, January 10th. They set a “buy” rating and a $36.00 price objective on the stock. StockNews.com raised News from a “hold” rating to a “buy” rating in a research report on Saturday. Guggenheim boosted their price target on News from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Loop Capital cut their target price on News from $44.00 to $41.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $39.25.

Read Our Latest Stock Report on NWSA

News Profile

(Free Report)

News Corporation, a media and information services company, creates and distributes authoritative and engaging content, and other products and services for consumers and businesses worldwide. It operates through six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.

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Want to see what other hedge funds are holding NWSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for News Co. (NASDAQ:NWSAFree Report).

Institutional Ownership by Quarter for News (NASDAQ:NWSA)

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