Investment Management Corp of Ontario Purchases 19,335 Shares of News Co. (NASDAQ:NWSA)

Investment Management Corp of Ontario boosted its position in News Co. (NASDAQ:NWSA) by 154.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 31,868 shares of the company’s stock after acquiring an additional 19,335 shares during the period. Investment Management Corp of Ontario’s holdings in News were worth $878,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NWSA. Barclays PLC boosted its holdings in News by 124.0% in the third quarter. Barclays PLC now owns 14,713,823 shares of the company’s stock worth $391,832,000 after acquiring an additional 8,144,856 shares in the last quarter. Norges Bank bought a new position in shares of News in the fourth quarter valued at approximately $172,357,000. Deutsche Bank AG lifted its holdings in shares of News by 291.2% in the fourth quarter. Deutsche Bank AG now owns 4,941,467 shares of the company’s stock valued at $136,088,000 after purchasing an additional 3,678,215 shares in the last quarter. Independent Franchise Partners LLP lifted its holdings in shares of News by 11.8% in the fourth quarter. Independent Franchise Partners LLP now owns 26,617,259 shares of the company’s stock valued at $733,039,000 after purchasing an additional 2,812,080 shares in the last quarter. Finally, 59 North Capital Management LP lifted its holdings in shares of News by 40.2% in the fourth quarter. 59 North Capital Management LP now owns 8,962,112 shares of the company’s stock valued at $246,817,000 after purchasing an additional 2,569,343 shares in the last quarter. Institutional investors own 66.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on NWSA shares. Seaport Res Ptn upgraded News to a “strong-buy” rating in a report on Friday, January 31st. Guggenheim lifted their price target on News from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. UBS Group upgraded News from a “neutral” rating to a “buy” rating in a report on Tuesday, February 4th. StockNews.com lowered News from a “buy” rating to a “hold” rating in a report on Tuesday, May 6th. Finally, Morgan Stanley dropped their price target on News from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, News has an average rating of “Buy” and a consensus price target of $38.80.

News Stock Performance

NASDAQ:NWSA opened at $28.28 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.73 and a quick ratio of 1.65. The business has a fifty day simple moving average of $26.72 and a two-hundred day simple moving average of $27.85. News Co. has a 1 year low of $23.38 and a 1 year high of $30.69. The company has a market capitalization of $16.05 billion, a P/E ratio of 38.74 and a beta of 1.30.

News (NASDAQ:NWSA) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.02). The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $2 billion. News had a net margin of 4.22% and a return on equity of 5.31%. News’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.13 earnings per share. On average, analysts expect that News Co. will post 0.94 earnings per share for the current year.

About News

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.