Catalyst Funds Management Pty Ltd Acquires Shares of 14,200 News Corporation $NWSA

Catalyst Funds Management Pty Ltd bought a new position in shares of News Corporation (NASDAQ:NWSA) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 14,200 shares of the company’s stock, valued at approximately $422,000.

Other institutional investors also recently modified their holdings of the company. Cullen Frost Bankers Inc. acquired a new stake in News in the second quarter valued at about $30,000. Caitong International Asset Management Co. Ltd raised its stake in News by 12,084.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,584 shares of the company’s stock worth $43,000 after acquiring an additional 1,571 shares in the last quarter. SVB Wealth LLC bought a new position in shares of News in the first quarter worth about $73,000. Allworth Financial LP boosted its stake in shares of News by 160.1% in the 2nd quarter. Allworth Financial LP now owns 3,361 shares of the company’s stock valued at $100,000 after purchasing an additional 2,069 shares in the last quarter. Finally, True Wealth Design LLC grew its holdings in shares of News by 661.1% during the 2nd quarter. True Wealth Design LLC now owns 3,448 shares of the company’s stock valued at $102,000 after purchasing an additional 2,995 shares during the last quarter. Institutional investors and hedge funds own 66.97% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on NWSA. JPMorgan Chase & Co. raised their target price on shares of News from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. Macquarie reissued a “neutral” rating and set a $32.70 price objective on shares of News in a report on Wednesday, August 6th. Weiss Ratings restated a “buy (b)” rating on shares of News in a research report on Wednesday, October 8th. Guggenheim dropped their target price on News from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Finally, Zacks Research cut News from a “hold” rating to a “strong sell” rating in a report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.28.

News Trading Up 3.6%

NASDAQ NWSA opened at $25.69 on Friday. The firm has a market capitalization of $14.43 billion, a PE ratio of 12.41 and a beta of 1.15. The business’s 50-day moving average price is $27.39 and its two-hundred day moving average price is $28.40. The company has a current ratio of 1.76, a quick ratio of 1.63 and a debt-to-equity ratio of 0.21. News Corporation has a 12 month low of $23.38 and a 12 month high of $31.61.

News (NASDAQ:NWSA) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.04. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.11 billion. News had a return on equity of 5.68% and a net margin of 13.80%.The firm’s quarterly revenue was down 16.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.21 earnings per share. On average, analysts expect that News Corporation will post 0.94 EPS for the current year.

News Profile

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.