News Corporation $NWS Holdings Lowered by Hsbc Holdings PLC

Hsbc Holdings PLC lowered its stake in News Corporation (NASDAQ:NWS) by 18.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 218,167 shares of the company’s stock after selling 50,182 shares during the quarter. Hsbc Holdings PLC’s holdings in News were worth $6,237,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of NWS. New York State Teachers Retirement System boosted its holdings in shares of News by 217.3% in the first quarter. New York State Teachers Retirement System now owns 15,308 shares of the company’s stock worth $436,000 after buying an additional 10,483 shares during the period. Optas LLC acquired a new stake in shares of News during the first quarter valued at approximately $354,000. Metropolis Capital Ltd lifted its position in shares of News by 18.7% in the 1st quarter. Metropolis Capital Ltd now owns 1,035,141 shares of the company’s stock valued at $29,512,000 after acquiring an additional 163,356 shares in the last quarter. Ground Swell Capital LLC acquired a new position in News in the 1st quarter worth approximately $234,000. Finally, Corient Private Wealth LLC purchased a new position in News during the 4th quarter worth approximately $454,000. 14.63% of the stock is owned by hedge funds and other institutional investors.

News Stock Down 3.9%

News stock opened at $29.75 on Friday. News Corporation has a twelve month low of $25.49 and a twelve month high of $35.58. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.59 and a current ratio of 1.70. The firm has a market cap of $16.29 billion, a PE ratio of 14.80 and a beta of 0.88. The firm’s 50 day moving average price is $30.09 and its two-hundred day moving average price is $29.16.

News (NASDAQ:NWS) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.14 by $0.07. News had a net margin of 12.92% and a return on equity of 6.12%. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.12 billion. On average, research analysts predict that News Corporation will post 0.96 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Weiss Ratings upgraded News from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, July 13th. Zacks Research raised News from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Strong 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.