Assenagon Asset Management S.A. Purchases 68,330 Shares of News Co. (NASDAQ:NWSA)

Assenagon Asset Management S.A. raised its stake in News Co. (NASDAQ:NWSAFree Report) by 534.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 81,104 shares of the company’s stock after buying an additional 68,330 shares during the period. Assenagon Asset Management S.A.’s holdings in News were worth $2,123,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. USA Financial Formulas bought a new stake in shares of News in the 4th quarter valued at about $1,436,000. Ieq Capital LLC bought a new stake in shares of News during the 3rd quarter valued at about $253,000. Charles Schwab Investment Management Inc. boosted its position in shares of News by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,203,777 shares of the company’s stock valued at $103,203,000 after purchasing an additional 62,805 shares in the last quarter. Desjardins Global Asset Management Inc. boosted its position in shares of News by 1,732.4% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 96,898 shares of the company’s stock valued at $2,379,000 after purchasing an additional 91,610 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of News by 321.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,155,073 shares of the company’s stock valued at $23,171,000 after purchasing an additional 880,977 shares in the last quarter. Institutional investors own 66.97% of the company’s stock.

News Stock Performance

Shares of News stock traded down $0.13 during trading hours on Tuesday, reaching $26.29. The company had a trading volume of 1,589,770 shares, compared to its average volume of 2,830,382. News Co. has a one year low of $18.09 and a one year high of $28.00. The business has a fifty day simple moving average of $25.19 and a 200 day simple moving average of $24.40. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 1.25. The firm has a market cap of $15.01 billion, a PE ratio of 73.03 and a beta of 1.35.

News (NASDAQ:NWSAGet Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.11 EPS for the quarter, hitting analysts’ consensus estimates of $0.11. News had a return on equity of 4.28% and a net margin of 2.09%. The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.45 billion. During the same period last year, the company earned $0.09 earnings per share. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, analysts anticipate that News Co. will post 0.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NWSA has been the topic of a number of research reports. Macquarie raised News from a “neutral” rating to an “outperform” rating in a research note on Thursday, February 8th. TheStreet raised News from a “c+” rating to a “b” rating in a research note on Wednesday, February 7th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $29.50.

Check Out Our Latest Analysis on NWSA

News Company Profile

(Free Report)

News Corporation, a media and information services company, creates and distributes authoritative and engaging content, and other products and services for consumers and businesses worldwide. It operates in six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.

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Institutional Ownership by Quarter for News (NASDAQ:NWSA)

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