ING Groep NV Has $219,000 Stake in News Corporation $NWSA

ING Groep NV lowered its holdings in News Corporation (NASDAQ:NWSA) by 96.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,396 shares of the company’s stock after selling 200,372 shares during the quarter. ING Groep NV’s holdings in News were worth $219,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of NWSA. Norges Bank acquired a new stake in News in the 4th quarter valued at $188,788,000. AQR Capital Management LLC lifted its stake in News by 488.0% during the 2nd quarter. AQR Capital Management LLC now owns 8,124,507 shares of the company’s stock valued at $241,054,000 after acquiring an additional 6,742,836 shares in the last quarter. State Street Corp lifted its stake in News by 16.5% during the 3rd quarter. State Street Corp now owns 31,356,593 shares of the company’s stock valued at $965,673,000 after acquiring an additional 4,448,929 shares in the last quarter. Barclays PLC lifted its stake in News by 39.5% during the 3rd quarter. Barclays PLC now owns 14,875,615 shares of the company’s stock valued at $456,830,000 after acquiring an additional 4,214,562 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in News by 46.6% during the 3rd quarter. Invesco Ltd. now owns 7,706,339 shares of the company’s stock valued at $236,662,000 after acquiring an additional 2,449,552 shares in the last quarter. Institutional investors and hedge funds own 66.97% of the company’s stock.

Wall Street Analysts Forecast Growth

NWSA has been the topic of several recent analyst reports. Morgan Stanley restated an “overweight” rating and set a $34.00 price objective on shares of News in a research note on Sunday, May 10th. Weiss Ratings upgraded News from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. Citigroup dropped their price objective on News from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, May 13th. Wall Street Zen upgraded News from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, Zacks Research upgraded News from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 5th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.14.

News Trading Down 0.8%

NASDAQ NWSA opened at $26.97 on Thursday. The stock has a market capitalization of $14.76 billion, a price-to-earnings ratio of 13.42 and a beta of 0.88. News Corporation has a one year low of $22.20 and a one year high of $31.61. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.70 and a quick ratio of 1.59. The business’s fifty day moving average is $25.99 and its 200-day moving average is $25.45.

News (NASDAQ:NWSA) last released its earnings results on Thursday, May 7th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.05. The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.11 billion. News had a return on equity of 6.12% and a net margin of 12.92%.The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.17 EPS. Equities research analysts predict that News Corporation will post 0.92 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.