Swiss National Bank Purchases 73,900 Shares of News Corporation $NWSA

Swiss National Bank lifted its position in shares of News Corporation (NASDAQ:NWSA) by 6.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 1,140,675 shares of the company’s stock after acquiring an additional 73,900 shares during the quarter. Swiss National Bank’s holdings in News were worth $33,901,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Public Employees Retirement System of Ohio lifted its position in shares of News by 0.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 126,293 shares of the company’s stock worth $3,753,000 after purchasing an additional 344 shares during the period. Horizon Investments LLC raised its holdings in News by 7.7% in the first quarter. Horizon Investments LLC now owns 5,575 shares of the company’s stock worth $152,000 after purchasing an additional 398 shares in the last quarter. Amalgamated Bank lifted its position in shares of News by 0.6% during the second quarter. Amalgamated Bank now owns 74,022 shares of the company’s stock valued at $2,200,000 after buying an additional 445 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of News by 5.4% in the 2nd quarter. GAMMA Investing LLC now owns 9,545 shares of the company’s stock valued at $284,000 after buying an additional 487 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in shares of News by 1.4% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 37,245 shares of the company’s stock worth $1,102,000 after buying an additional 505 shares during the last quarter. 66.97% of the stock is currently owned by institutional investors.

News Price Performance

Shares of NWSA opened at $25.41 on Wednesday. The business’s 50-day moving average is $27.21 and its two-hundred day moving average is $28.36. The company has a market capitalization of $14.27 billion, a P/E ratio of 12.28 and a beta of 1.15. News Corporation has a fifty-two week low of $23.38 and a fifty-two week high of $31.61. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.63 and a current ratio of 1.76.

News (NASDAQ:NWSA) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.04. News had a return on equity of 5.68% and a net margin of 13.80%.The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same period last year, the business earned $0.21 earnings per share. News’s quarterly revenue was down 16.8% on a year-over-year basis. Research analysts predict that News Corporation will post 0.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NWSA. Zacks Research downgraded shares of News from a “hold” rating to a “strong sell” rating in a report on Thursday, October 23rd. Weiss Ratings restated a “buy (b)” rating on shares of News in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lowered their price objective on shares of News from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Tuesday. Guggenheim cut their target price on News from $45.00 to $43.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Finally, Macquarie reaffirmed a “neutral” rating and set a $32.70 price target on shares of News in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.95.

News Company Profile

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 through six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.