Hsbc Holdings PLC Grows Position in News Corporation $NWS

Hsbc Holdings PLC raised its stake in shares of News Corporation (NASDAQ:NWS) by 60.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 268,349 shares of the company’s stock after purchasing an additional 101,018 shares during the period. Hsbc Holdings PLC’s holdings in News were worth $7,971,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of News by 15.2% during the 4th quarter. Vanguard Group Inc. now owns 10,163,392 shares of the company’s stock valued at $301,141,000 after acquiring an additional 1,344,287 shares during the period. L1 Capital Pty Ltd raised its stake in News by 26.2% during the 4th quarter. L1 Capital Pty Ltd now owns 4,273,704 shares of the company’s stock worth $126,630,000 after acquiring an additional 886,156 shares during the period. Geode Capital Management LLC lifted its holdings in News by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 3,728,263 shares of the company’s stock valued at $110,314,000 after purchasing an additional 124,871 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of News by 0.4% in the third quarter. Dimensional Fund Advisors LP now owns 1,960,509 shares of the company’s stock worth $67,733,000 after purchasing an additional 7,675 shares during the period. Finally, Bank of Montreal Can boosted its position in shares of News by 2,991.9% in the fourth quarter. Bank of Montreal Can now owns 1,947,039 shares of the company’s stock worth $57,691,000 after purchasing an additional 1,884,066 shares during the period. Institutional investors own 14.63% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NWS. Weiss Ratings downgraded shares of News from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. Zacks Research downgraded shares of News from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, News has a consensus rating of “Hold”.

News Price Performance

NASDAQ:NWS opened at $28.73 on Friday. The business’s 50-day moving average is $29.99 and its 200 day moving average is $29.04. News Corporation has a 12 month low of $25.49 and a 12 month high of $35.58. The company has a market capitalization of $15.73 billion, a P/E ratio of 14.29 and a beta of 0.87. The company has a current ratio of 1.70, a quick ratio of 1.59 and a debt-to-equity ratio of 0.21.

News (NASDAQ:NWS) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.07. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.12 billion. News had a return on equity of 6.12% and a net margin of 12.92%. On average, equities research analysts forecast that News Corporation will post 0.96 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.