Savant Capital LLC Raises Stock Holdings in News Corporation $NWSA

Savant Capital LLC boosted its holdings in shares of News Corporation (NASDAQ:NWSA) by 386.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 100,311 shares of the company’s stock after purchasing an additional 79,693 shares during the quarter. Savant Capital LLC’s holdings in News were worth $2,981,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Envestnet Asset Management Inc. raised its position in shares of News by 37.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 33,385 shares of the company’s stock valued at $909,000 after buying an additional 9,091 shares in the last quarter. Cerity Partners LLC increased its stake in News by 13.2% during the first quarter. Cerity Partners LLC now owns 82,586 shares of the company’s stock worth $2,248,000 after acquiring an additional 9,648 shares during the last quarter. Ballentine Partners LLC raised its position in News by 50.8% during the first quarter. Ballentine Partners LLC now owns 17,461 shares of the company’s stock valued at $475,000 after purchasing an additional 5,885 shares during the period. New York State Common Retirement Fund lifted its stake in shares of News by 9.7% in the 1st quarter. New York State Common Retirement Fund now owns 245,195 shares of the company’s stock valued at $6,674,000 after purchasing an additional 21,675 shares during the last quarter. Finally, CWM LLC boosted its holdings in shares of News by 161.2% in the 1st quarter. CWM LLC now owns 25,054 shares of the company’s stock worth $682,000 after purchasing an additional 15,462 shares during the period. 66.97% of the stock is owned by hedge funds and other institutional investors.

News Stock Up 0.3%

Shares of NWSA opened at $26.80 on Tuesday. The firm has a fifty day moving average price of $28.01 and a 200-day moving average price of $28.50. The company has a current ratio of 1.76, a quick ratio of 1.63 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $15.14 billion, a P/E ratio of 12.95 and a beta of 1.15. News Corporation has a 12-month low of $23.38 and a 12-month high of $31.61.

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

Wall Street Analyst Weigh In

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

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.