Mirae Asset Global Investments Co. Ltd. Purchases New Holdings in News Corporation $NWSA

Mirae Asset Global Investments Co. Ltd. acquired a new stake in News Corporation (NASDAQ:NWSA) during the third quarter, Holdings Channel reports. The institutional investor acquired 94,137 shares of the company’s stock, valued at approximately $2,697,000.

A number of other institutional investors have also made changes to their positions in NWSA. Turtle Creek Wealth Advisors LLC acquired a new position in News during the third quarter worth $25,000. Elevation Wealth Partners LLC grew its position in News by 282.7% in the second quarter. Elevation Wealth Partners LLC now owns 2,032 shares of the company’s stock valued at $50,000 after purchasing an additional 1,501 shares in the last quarter. IFP Advisors Inc increased its stake in News by 79.0% in the 2nd quarter. IFP Advisors Inc now owns 3,682 shares of the company’s stock valued at $91,000 after buying an additional 1,625 shares during the last quarter. State of Wyoming acquired a new stake in News in the 3rd quarter valued at $142,000. Finally, Americana Partners LLC bought a new stake in News during the 3rd quarter worth about $214,000. Institutional investors own 66.97% of the company’s stock.

News Price Performance

NASDAQ:NWSA opened at $26.39 on Friday. The company has a market cap of $14.28 billion, a P/E ratio of 23.56 and a beta of 1.01. The firm’s fifty day moving average price is $29.57 and its two-hundred day moving average price is $26.96. News Corporation has a one year low of $22.20 and a one year high of $31.66. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.62 and a quick ratio of 1.51.

News (NASDAQ:NWSA) last posted its earnings results on Wednesday, November 4th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. The company had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.27 billion. News had a net margin of 6.76% and a return on equity of 7.42%. News’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.22 EPS. Equities analysts expect that News Corporation will post 1.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on NWSA shares. Zacks Research downgraded shares of News from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. Wall Street Zen raised News from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Morgan Stanley reiterated an “overweight” rating and set a $35.00 target price on shares of News in a report on Thursday, August 6th. Weiss Ratings raised News from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, October 12th. Finally, Raymond James Financial began coverage on News in a research report on Monday, October 19th. They set an “outperform” rating and a $35.00 price target for the company. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.80.

News Company Profile

News Corporation is a global media and information services company. Its businesses include Dow Jones, which provides financial news and data through outlets such as The Wall Street Journal; HarperCollins, a book publisher; and News Corp’s news media operations, which publish newspapers and digital news services.

The company also operates digital real estate businesses, including Realtor.com in the United States and REA Group in Australia. Its brands and services reach audiences and customers across the Americas, Europe, Australia and other international markets.

News Corporation was formed in 2013 when the former News Corporation separated its publishing and media operations from its entertainment businesses.