News Corporation $NWSA is West Tower Group LLC’s 4th Largest Position

West Tower Group LLC grew its position in shares of News Corporation (NASDAQ:NWSA) by 166.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 86,359 shares of the company’s stock after buying an additional 53,905 shares during the quarter. News accounts for approximately 6.7% of West Tower Group LLC’s investment portfolio, making the stock its 4th biggest holding. West Tower Group LLC’s holdings in News were worth $2,153,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. CYBER HORNET ETFs LLC bought a new stake in News during the second quarter worth $30,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of News during the 3rd quarter worth $31,000. Advisory Services Network LLC purchased a new position in shares of News in the 3rd quarter worth about $35,000. Brown Brothers Harriman & Co. boosted its holdings in shares of News by 154.5% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,285 shares of the company’s stock worth $39,000 after buying an additional 780 shares during the last quarter. Finally, Global Retirement Partners LLC grew its position in News by 561.1% during the fourth quarter. Global Retirement Partners LLC now owns 1,732 shares of the company’s stock valued at $45,000 after buying an additional 1,470 shares during the period. 66.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $34.00 price objective on shares of News in a research report on Sunday, May 10th. Weiss Ratings upgraded shares of News from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. Wall Street Zen raised shares of News from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, Citigroup reduced their price objective on News from $39.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.14.

News Stock Performance

NASDAQ NWSA opened at $26.92 on Wednesday. The firm has a market cap of $14.74 billion, a P/E ratio of 13.39 and a beta of 0.89. The company has a quick ratio of 1.59, a current ratio of 1.70 and a debt-to-equity ratio of 0.21. The company’s 50 day moving average is $26.15 and its 200-day moving average is $25.44. News Corporation has a 12-month low of $22.20 and a 12-month high of $31.61.

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