Rakuten Investment Management Inc. Purchases New Position in News Corporation $NWS

Rakuten Investment Management Inc. acquired a new position in shares of News Corporation (NASDAQ:NWS) during the 3rd quarter, Holdings Channel.com reports. The firm acquired 25,608 shares of the company’s stock, valued at approximately $889,000.

Several other hedge funds have also made changes to their positions in the company. Fifth Third Bancorp grew its position in shares of News by 3.6% during the 2nd quarter. Fifth Third Bancorp now owns 8,805 shares of the company’s stock worth $302,000 after buying an additional 302 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in News by 2.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 17,032 shares of the company’s stock worth $588,000 after acquiring an additional 337 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in News by 7.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,983 shares of the company’s stock valued at $162,000 after purchasing an additional 338 shares during the period. Asset Management One Co. Ltd. lifted its position in shares of News by 10.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 4,014 shares of the company’s stock worth $139,000 after purchasing an additional 386 shares during the period. Finally, Mather Group LLC. boosted its stake in shares of News by 6.2% during the second quarter. Mather Group LLC. now owns 7,130 shares of the company’s stock valued at $245,000 after purchasing an additional 419 shares in the last quarter. 14.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Zacks Research raised shares of News to a “hold” rating in a research note on Tuesday, January 13th. Weiss Ratings downgraded News from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

News Trading Up 0.5%

NASDAQ:NWS opened at $31.10 on Friday. The firm has a 50 day moving average of $29.69 and a 200 day moving average of $31.51. The company has a quick ratio of 1.63, a current ratio of 1.76 and a debt-to-equity ratio of 0.21. News Corporation has a 52 week low of $26.25 and a 52 week high of $35.58. The stock has a market capitalization of $17.46 billion, a price-to-earnings ratio of 15.02 and a beta of 0.95.

News (NASDAQ:NWS) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. News had a return on equity of 5.68% and a net margin of 13.80%.The business had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.11 billion. As a group, sell-side analysts anticipate that News Corporation will post 1.03 earnings per share for the current fiscal 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.