True Wealth Design LLC Buys 2,995 Shares of News Corporation $NWSA

True Wealth Design LLC lifted its stake in News Corporation (NASDAQ:NWSA) by 661.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,448 shares of the company’s stock after purchasing an additional 2,995 shares during the quarter. True Wealth Design LLC’s holdings in News were worth $102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its holdings in News by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 3,081,305 shares of the company’s stock worth $83,873,000 after buying an additional 39,342 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of News by 37.4% during the first quarter. Envestnet Asset Management Inc. now owns 33,385 shares of the company’s stock valued at $909,000 after acquiring an additional 9,091 shares in the last quarter. Axxcess Wealth Management LLC raised its holdings in News by 20.0% in the 1st quarter. Axxcess Wealth Management LLC now owns 18,006 shares of the company’s stock worth $490,000 after acquiring an additional 3,000 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in News by 0.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 232,442 shares of the company’s stock valued at $6,350,000 after acquiring an additional 741 shares in the last quarter. Finally, Cerity Partners LLC boosted its stake in News by 13.2% during the 1st quarter. Cerity Partners LLC now owns 82,586 shares of the company’s stock valued at $2,248,000 after purchasing an additional 9,648 shares during the last quarter. 66.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NWSA. JPMorgan Chase & Co. boosted their price target on News from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. Macquarie reissued a “neutral” rating and issued a $32.70 target price on shares of News in a research report on Wednesday, August 6th. Weiss Ratings restated a “buy (b)” rating on shares of News in a research note on Wednesday, October 8th. Finally, Zacks Research lowered shares of News from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, News currently has an average rating of “Moderate Buy” and a consensus target price of $38.62.

News Stock Up 6.5%

NASDAQ NWSA opened at $26.72 on Friday. The company has a quick ratio of 1.72, a current ratio of 1.84 and a debt-to-equity ratio of 0.21. News Corporation has a 52 week low of $23.38 and a 52 week high of $31.61. The company has a market capitalization of $15.10 billion, a P/E ratio of 12.91 and a beta of 1.15. The stock’s 50-day moving average price is $28.06 and its 200-day moving average price is $28.47.

News (NASDAQ:NWSA) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.04. News had a net margin of 13.80% and a return on equity of 5.71%. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same period in the prior year, the company posted $0.21 earnings per share. The company’s revenue for the quarter was down 16.8% compared to the same quarter last year. On average, equities research analysts predict that News Corporation will post 0.94 earnings per share for the current year.

News Company 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.