Glenmede Trust Co. NA Buys 285,472 Shares of News Corporation $NWSA

Glenmede Trust Co. NA raised its stake in News Corporation (NASDAQ:NWSA) by 328.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 372,518 shares of the company’s stock after buying an additional 285,472 shares during the quarter. Glenmede Trust Co. NA’s holdings in News were worth $9,287,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in News by 5.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,556 shares of the company’s stock valued at $1,022,000 after acquiring an additional 1,950 shares in the last quarter. United Services Automobile Association bought a new stake in shares of News in the 1st quarter worth $206,000. Empowered Funds LLC purchased a new stake in shares of News in the first quarter valued at about $204,000. Focus Partners Wealth lifted its position 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 purchasing an additional 5,106 shares in the last quarter. Finally, Sivia Capital Partners LLC purchased a new position in News during the second quarter worth about $545,000. Hedge funds and other institutional investors own 66.97% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Zacks Research upgraded shares of News from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 9th. Wall Street Zen upgraded News from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Citigroup reduced their target price on News from $39.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Weiss Ratings upgraded News from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $34.00 price objective on shares of News in a research report on Sunday, May 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $37.14.

News Trading Up 1.4%

Shares of News stock opened at $27.94 on Tuesday. The stock has a market capitalization of $15.30 billion, a P/E ratio of 13.90 and a beta of 0.88. News Corporation has a 52-week low of $22.20 and a 52-week high of $31.61. 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 stock’s 50-day simple moving average is $26.69 and its 200 day simple moving average is $25.63.

News (NASDAQ:NWSA) last posted its earnings results on Thursday, May 7th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.05. News had a net margin of 12.92% and a return on equity of 6.12%. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter last year, the company earned $0.17 earnings per share. The company’s revenue was up 8.8% on a year-over-year basis. As a group, research analysts anticipate that News Corporation will post 1.06 EPS for the current year.

News Company Profile

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.