Nomura Asset Management Co. Ltd. increased its investment in News Co. (NASDAQ:NWSA) by 5.8% in the fourth quarter, as stated in its recent Securities and Exchange Commission filing. This added 5,697 shares, bringing its total to 104,419, valued at $2,563,000.
Other institutional investors also made moves. Lindbrook Capital LLC significantly boosted its shares by 153.1%, reaching 1,635 shares valued at $40,000 after an additional 989 shares. Principal Securities Inc. and Financial Management Professionals Inc. entered new positions, with stakes valued at $45,000 and $49,000, respectively. Blue Trust Inc. expanded its holdings by 65.1%, now owning 2,655 shares valued at $65,000, while Livforsakringsbolaget Skandia Omsesidigt saw a 120.5% increase, bringing its total to 2,897 shares worth $71,000. In total, institutional investors own 66.97% of News Co.’s stock.
On the stock market, News Co. opened at $27.19 on Friday. The company shows a debt-to-equity ratio of 0.32, with current and quick ratios of 1.36 and 1.25, respectively. Its market cap stands at $15.50 billion, with a P/E ratio of 75.53 and a beta of 1.35. Over the past year, the stock has fluctuated between a low of $18.17 and a high of $28.00, with moving averages at $25.28 (fifty-day) and $24.61 (two-hundred-day).
In its latest earnings report on May 8th, News Co. met expectations with an EPS of $0.11 and reported $2.42 billion in revenue, just shy of the forecasted $2.45 billion. This represented a 1.0% year-over-year revenue decline. The company’s net margin was 2.09% with a return on equity of 4.28%. Analysts predict an EPS of 0.67 for the current year.
Recently, several research firms have shown optimism towards News Co. TheStreet upgraded its rating from “c+” to “b,” and Macquarie moved from “neutral” to “outperform.” Overall, five analysts have given the stock a buy rating, resulting in a consensus rating of “Buy” with a target price of $29.50.
In summary, News Co. has seen increased interest from institutional investors and analysts alike, reflecting a positive outlook for its stock performance. Despite slight revenue dips, the company maintains a stable financial position and investor confidence.