News Corporation $NWSA is Harspring Capital Management LLC’s 9th Largest Position

Harspring Capital Management LLC lowered its position in shares of News Corporation (NASDAQ:NWSA) by 3.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 601,500 shares of the company’s stock after selling 20,000 shares during the period. News comprises about 5.8% of Harspring Capital Management LLC’s investment portfolio, making the stock its 9th largest position. Harspring Capital Management LLC’s holdings in News were worth $15,711,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Entropy Technologies LP increased its holdings in shares of News by 456.7% during the fourth quarter. Entropy Technologies LP now owns 138,475 shares of the company’s stock valued at $3,617,000 after acquiring an additional 113,602 shares in the last quarter. Atlas Capital Advisors Inc. bought a new position in shares of News during the fourth quarter valued at $179,000. Kestra Advisory Services LLC increased its holdings in shares of News by 4.1% during the fourth quarter. Kestra Advisory Services LLC now owns 16,594 shares of the company’s stock valued at $433,000 after acquiring an additional 659 shares in the last quarter. PCM Encore LLC bought a new position in shares of News during the fourth quarter valued at $262,000. Finally, Quarry LP increased its holdings in shares of News by 670.1% during the fourth quarter. Quarry LP now owns 4,012 shares of the company’s stock valued at $105,000 after acquiring an additional 3,491 shares in the last quarter. Hedge funds and other institutional investors own 66.97% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Morgan Stanley restated an “overweight” rating and set a $34.00 price target on shares of News in a report on Sunday, May 10th. Wall Street Zen upgraded News from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Weiss Ratings upgraded News from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. Zacks Research upgraded News from a “strong sell” rating to a “hold” rating in a report on Thursday, March 5th. Finally, Citigroup reduced their price target on News from $39.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.14.

News Price Performance

NASDAQ NWSA opened at $25.68 on Friday. News Corporation has a one year low of $22.20 and a one year high of $31.61. The stock has a 50-day moving average of $26.04 and a 200 day moving average of $25.46. The company has a market capitalization of $14.06 billion, a price-to-earnings ratio of 12.78 and a beta of 0.88. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.59 and a current ratio of 1.70.

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

News 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.