Wealth Enhancement Advisory Services LLC Increases Stake in News Co. (NASDAQ:NWSA)

Wealth Enhancement Advisory Services LLC boosted its stake in News Co. (NASDAQ:NWSA) by 37.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,358 shares of the company’s stock after purchasing an additional 3,887 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in News were worth $382,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of NWSA. Metropolis Capital Ltd increased its stake in News by 8.9% in the 3rd quarter. Metropolis Capital Ltd now owns 6,779,137 shares of the company’s stock worth $180,528,000 after purchasing an additional 555,789 shares during the period. AQR Capital Management LLC increased its stake in News by 188.3% in the 2nd quarter. AQR Capital Management LLC now owns 491,123 shares of the company’s stock worth $13,540,000 after purchasing an additional 320,785 shares during the period. Jane Street Group LLC increased its stake in News by 812.6% in the 1st quarter. Jane Street Group LLC now owns 229,262 shares of the company’s stock worth $6,002,000 after purchasing an additional 204,141 shares during the period. Achmea Investment Management B.V. grew its position in shares of News by 504.7% in the 2nd quarter. Achmea Investment Management B.V. now owns 236,044 shares of the company’s stock worth $6,508,000 after buying an additional 197,008 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of News by 230.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 268,326 shares of the company’s stock worth $7,398,000 after buying an additional 187,222 shares during the last quarter. 66.97% of the stock is owned by hedge funds and other institutional investors.

News Trading Up 1.2 %

NASDAQ NWSA opened at $29.52 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.43 and a debt-to-equity ratio of 0.32. News Co. has a twelve month low of $20.35 and a twelve month high of $30.03. The firm has a market capitalization of $16.78 billion, a PE ratio of 47.61 and a beta of 1.34. The stock’s 50 day moving average is $26.65 and its 200 day moving average is $26.77.

News (NASDAQ:NWSA) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The business had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.49 billion. News had a return on equity of 4.51% and a net margin of 2.64%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.14 earnings per share. Research analysts forecast that News Co. will post 0.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NWSA has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective on News from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Loop Capital lifted their price objective on News from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat, News presently has an average rating of “Buy” and an average target price of $38.00.

About News

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.