Harspring Capital Management LLC Trims Stock Holdings in News Corporation $NWSA

Harspring Capital Management LLC reduced its holdings in shares of News Corporation (NASDAQ:NWSA) by 3.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 601,500 shares of the company’s stock after selling 20,000 shares during the period. News comprises approximately 5.8% of Harspring Capital Management LLC’s portfolio, making the stock its 9th biggest holding. Harspring Capital Management LLC owned about 0.11% of News worth $15,711,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. CYBER HORNET ETFs LLC bought a new position in News during the second quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd bought a new position in News during the third quarter valued at approximately $31,000. Advisory Services Network LLC bought a new position in News during the third quarter valued at approximately $35,000. Brown Brothers Harriman & Co. grew its position in News by 154.5% during the third quarter. Brown Brothers Harriman & Co. now owns 1,285 shares of the company’s stock valued at $39,000 after acquiring an additional 780 shares during the last quarter. Finally, Global Retirement Partners LLC grew its position in News by 561.1% during the fourth quarter. Global Retirement Partners LLC now owns 1,732 shares of the company’s stock valued at $45,000 after acquiring an additional 1,470 shares during the last quarter. 66.97% of the stock is currently owned by institutional investors.

News Stock Performance

Shares of News stock opened at $25.68 on Friday. 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 market capitalization of $14.06 billion, a P/E ratio of 12.78 and a beta of 0.88. The business has a fifty day simple moving average of $26.04 and a two-hundred day simple moving average of $25.46. News Corporation has a 12 month low of $22.20 and a 12 month high of $31.61.

News (NASDAQ:NWSA) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.16 by $0.05. The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.11 billion. News had a return on equity of 6.12% and a net margin of 12.92%.The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.17 earnings per share. On average, equities analysts forecast that News Corporation will post 0.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NWSA has been the topic of a number of recent research reports. Zacks Research upgraded shares of News from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 5th. Weiss Ratings raised News from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. Morgan Stanley reissued an “overweight” rating and set a $34.00 price objective on shares of News in a research note on Sunday, May 10th. Citigroup dropped their price objective on News from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Finally, Wall Street Zen raised News from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $37.14.

News Company Profile

News Corporation (NASDAQ: NWSA) is a global diversified media and information services company headquartered in New York City. It operates through two principal segments: News and Information Services, and Digital Real Estate Services. The company’s news and information division oversees a portfolio of leading newspapers, magazines and digital platforms, offering content across print and online channels. Its properties include Dow Jones, publisher of The Wall Street Journal and Barron’s, News UK titles such as The Times and The Sun, as well as News Corp Australia mastheads.

In addition to its journalism assets, News Corp is a significant player in book publishing through HarperCollins, one of the world’s largest consumer publishers.