L1 Capital Pty Ltd Has $126.63 Million Stake in News Corporation $NWS

L1 Capital Pty Ltd boosted its stake in shares of News Corporation (NASDAQ:NWS) by 26.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,273,704 shares of the company’s stock after purchasing an additional 886,156 shares during the quarter. News comprises 6.6% of L1 Capital Pty Ltd’s portfolio, making the stock its 5th largest holding. L1 Capital Pty Ltd’s holdings in News were worth $126,630,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of NWS. Bank of Montreal Can boosted its position in shares of News by 2,991.9% in the fourth quarter. Bank of Montreal Can now owns 1,947,039 shares of the company’s stock valued at $57,691,000 after acquiring an additional 1,884,066 shares during the period. Vanguard Group Inc. boosted its position in shares of News by 23.1% in the third quarter. Vanguard Group Inc. now owns 8,819,105 shares of the company’s stock valued at $304,700,000 after acquiring an additional 1,657,727 shares during the period. UBS Group AG boosted its position in shares of News by 100.5% in the third quarter. UBS Group AG now owns 1,047,526 shares of the company’s stock valued at $36,192,000 after acquiring an additional 525,119 shares during the period. Norges Bank bought a new stake in shares of News in the fourth quarter valued at approximately $15,320,000. Finally, Burkehill Global Management LP bought a new stake in shares of News in the third quarter valued at approximately $13,820,000. 14.63% of the stock is owned by institutional investors.

News Stock Performance

News stock opened at $29.26 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.70 and a quick ratio of 1.59. The stock has a fifty day moving average price of $29.93 and a two-hundred day moving average price of $29.07. News Corporation has a 52-week low of $25.49 and a 52-week high of $35.58. The firm has a market capitalization of $16.02 billion, a P/E ratio of 14.56 and a beta of 0.87.

News (NASDAQ:NWS) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.07. News had a return on equity of 6.12% and a net margin of 12.92%.The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.12 billion. As a group, analysts anticipate that News Corporation will post 0.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NWS has been the subject of several research reports. Zacks Research cut News from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Weiss Ratings raised News from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

About News

News Corporation (NASDAQ: NWS) is a global media and information services company engaged in news and digital real estate, book publishing and other media businesses. The company’s operations include print and digital newsbrands, business and financial information services, consumer platforms for property listings, and a major book publishing arm. Through its subsidiaries and brands, News Corp produces news content, market and financial reporting, online real-estate marketplaces and trade and consumer publishing products.

Key areas of activity include news and information, where the company publishes national and regional newspapers and operates business information services; book publishing through a well-known global publisher; and property-related digital businesses that operate online marketplaces for real estate listings.