Louisiana State Employees Retirement System Acquires Shares of 18,900 News Corporation $NWSA

Louisiana State Employees Retirement System bought a new position in News Corporation (NASDAQ:NWSA) during the 1st quarter, Holdings Channel reports. The fund bought 18,900 shares of the company’s stock, valued at approximately $471,000.

Other hedge funds also recently made changes to their positions in the company. CYBER HORNET ETFs LLC bought a new position in News during the second quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd bought a new stake in News in the 3rd quarter worth approximately $31,000. Advisory Services Network LLC purchased a new stake in shares of News during the 3rd quarter worth approximately $35,000. Brown Brothers Harriman & Co. raised its holdings in shares of News by 154.5% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,285 shares of the company’s stock worth $39,000 after acquiring an additional 780 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its position in shares of News by 561.1% during the 4th quarter. Global Retirement Partners LLC now owns 1,732 shares of the company’s stock valued at $45,000 after acquiring an additional 1,470 shares during the last quarter. 66.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

News Price Performance

NASDAQ:NWSA opened at $26.72 on Thursday. The firm has a market capitalization of $14.63 billion, a price-to-earnings ratio of 13.29 and a beta of 0.89. 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 has a 50 day simple moving average of $26.16 and a 200-day simple moving average of $25.45. News Corporation has a 1 year low of $22.20 and a 1 year high of $31.61.

News (NASDAQ:NWSA) last released its earnings results on Thursday, May 7th. The company reported $0.21 earnings per share for the quarter, beating 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 firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the previous year, the company posted $0.17 EPS. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. Equities analysts forecast 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.