Hsbc Holdings PLC Raises Stock Holdings in News Corporation $NWS

Hsbc Holdings PLC raised its stake in shares of News Corporation (NASDAQ:NWS) by 60.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 268,349 shares of the company’s stock after acquiring an additional 101,018 shares during the period. Hsbc Holdings PLC’s holdings in News were worth $7,971,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Corient Private Wealth LLC purchased a new position in shares of News during the fourth quarter valued at approximately $454,000. Invesco Ltd. boosted its holdings in News by 23.5% in the fourth quarter. Invesco Ltd. now owns 1,906,428 shares of the company’s stock worth $56,487,000 after purchasing an additional 362,355 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in News by 18.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 28,572 shares of the company’s stock worth $847,000 after purchasing an additional 4,499 shares during the last quarter. Vident Advisory LLC grew its position in News by 11.8% in the 4th quarter. Vident Advisory LLC now owns 20,132 shares of the company’s stock worth $597,000 after purchasing an additional 2,122 shares during the period. Finally, Mackenzie Financial Corp raised its stake in News by 18.2% during the 4th quarter. Mackenzie Financial Corp now owns 12,368 shares of the company’s stock valued at $369,000 after buying an additional 1,907 shares during the last quarter. Hedge funds and other institutional investors own 14.63% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NWS. Weiss Ratings downgraded News from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, June 25th. Zacks Research upgraded News from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy”.

News Stock Performance

Shares of NASDAQ NWS opened at $30.10 on Thursday. News Corporation has a 12-month low of $25.49 and a 12-month high of $35.58. The firm has a market capitalization of $16.48 billion, a price-to-earnings ratio of 14.98 and a beta of 0.88. The company has a current ratio of 1.70, a quick ratio of 1.59 and a debt-to-equity ratio of 0.21. The firm has a 50 day moving average of $29.89 and a 200 day moving average of $29.04.

News (NASDAQ:NWS) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.07. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.12 billion. News had a net margin of 12.92% and a return on equity of 6.12%. On average, research analysts anticipate that News Corporation will post 0.96 earnings per share for the current year.

About News

News Corporation (NASDAQ: NWS) is a global media and information services company engaged in news and digital real estate, book publishing and other media businesses. The company’s operations include print and digital newsbrands, business and financial information services, consumer platforms for property listings, and a major book publishing arm. Through its subsidiaries and brands, News Corp produces news content, market and financial reporting, online real-estate marketplaces and trade and consumer publishing products.

Key areas of activity include news and information, where the company publishes national and regional newspapers and operates business information services; book publishing through a well-known global publisher; and property-related digital businesses that operate online marketplaces for real estate listings.