SEB Asset Management AB Takes $2.79 Million Position in News Corporation $NWSA

SEB Asset Management AB bought a new position in News Corporation (NASDAQ:NWSA) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 111,799 shares of the company’s stock, valued at approximately $2,787,000.

Other large investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in News by 5.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,556 shares of the company’s stock worth $1,022,000 after purchasing an additional 1,950 shares during the period. United Services Automobile Association purchased a new position in shares of News during the first quarter valued at approximately $206,000. Empowered Funds LLC purchased a new position in shares of News during the first quarter valued at approximately $204,000. Focus Partners Wealth grew its stake in shares of News by 44.4% during the first quarter. Focus Partners Wealth now owns 16,618 shares of the company’s stock valued at $452,000 after buying an additional 5,106 shares during the last quarter. Finally, Sivia Capital Partners LLC purchased a new stake in shares of News in the second quarter worth approximately $545,000. 66.97% of the stock is owned by hedge funds and other institutional investors.

News Stock Down 3.7%

Shares of NASDAQ NWSA opened at $26.33 on Friday. News Corporation has a 52-week low of $22.20 and a 52-week high of $31.61. The firm has a market capitalization of $14.41 billion, a price-to-earnings ratio of 13.10 and a beta of 0.89. The stock has a 50 day moving average price of $26.44 and a 200 day moving average price of $25.56. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.59 and a current ratio of 1.70.

News (NASDAQ:NWSA) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.16 by $0.05. News had a return on equity of 6.12% and a net margin of 12.92%.The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same period last year, the business posted $0.17 EPS. News’s quarterly revenue was up 8.8% on a year-over-year basis. Sell-side analysts expect that News Corporation will post 0.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NWSA has been the subject of a number of research analyst reports. Citigroup decreased their price target on News from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Weiss Ratings upgraded News from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Morgan Stanley reiterated an “overweight” rating and set a $34.00 target price on shares of News in a research report on Sunday, May 10th. Wall Street Zen raised shares of News from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, Zacks Research upgraded shares of News from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, News presently has an average rating of “Buy” and a consensus target price of $37.14.

About News

News Corporation (NASDAQ: NWSA) is a global diversified media and information services company headquartered in New York City. It operates through two principal segments: News and Information Services, and Digital Real Estate Services. The company’s news and information division oversees a portfolio of leading newspapers, magazines and digital platforms, offering content across print and online channels. Its properties include Dow Jones, publisher of The Wall Street Journal and Barron’s, News UK titles such as The Times and The Sun, as well as News Corp Australia mastheads.

In addition to its journalism assets, News Corp is a significant player in book publishing through HarperCollins, one of the world’s largest consumer publishers.