SSgA Funds Management, Inc. has recently announced that it has increased stake in News Corp (NASDAQ:NWSA) by 0.66%. After grabbing 18.7 million shares, the institutional investor is now in possession of 0.12 million shares of the Communication Services Company. The new investment brought the stake of investor firm to 4.91% having worth around $459.21 million. Moreover, BlackRock Fund Advisors increased its share by 0.14 million to have a control over 18.46 million shares. And Geode Capital Management LLC raised its holdings to 0.15 million shares by acquiring 8.84 million shares or 2.32% of the stake.
News Corp (NWSA) concluded trading on Thursday at a closing price of $24.70, with 2.66 million shares of worth about $65.82 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 28.65% during that period and on Thursday, January 25 the price saw a gain of about 0.28%. Currently the company’s common shares owned by public are about 572.61M shares, out of which, 380.91M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 127 times over the past 12 months. They bought 1,374,931 shares in 56 of the transactions. In 71 selling transactions, insiders dumped 1,691,427 shares.
T Rowe Price Equity Income Fund, Vanguard Total Stock Market ETF, and Vanguard 500 Index Fund are the top 3 mutual funds which are holding stakes in News Corp T Rowe Price Equity Income Fund is currently holding 14.3 million shares of worth totaling $351.06 million. The company recently came buying 0.0 shares which brought its stake up to 3.75% of the company’s outstanding shares. Vanguard 500 Index Fund, after selling 12.2 million shares, have now control over 3.20% of the stake in the company. It holds 36990.0 shares of worth $299.56 million.
However, the stock later moved at a day high price of 25.05, or with a gain of 0.28%. Stock saw a price change of 4.75% in past 5 days and over the past one month there was a price change of 3.78%. Year-to-date (YTD), NWSA shares are showing a performance of 0.61% which increased to 26.47% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $15.57 but also hit the highest price of $24.81 during that period. The average intraday trading volume for News Corp shares is 2.62 million. The stock is currently trading 1.92% above its 20-day simple moving average (SMA20), while that difference is up 7.49% for SMA50 and it goes to 20.86% higher than SMA200.
SSgA Funds Management, Inc. acquired 18.7 million shares of News Corp having value of about $459.21 million. Data submitted at the U.S SEC by SSgA Funds Management, Inc. revealed that the firm now holds 0.12 million shares in the company valued at close to $3048696.3, or have control over 0.66% stake in the company. News Corp (NASDAQ: NWSA) currently have 572.61M outstanding shares and institutions hold larger chunk of about 67.03% of that. Holding of mutual funds in the company is about 41.42% while other institutional holders and individual stake holders have control over 59.57% and 0.67% of the stake respectively.
The stock has a current market capitalization of $14.14B and its 3Y-monthly beta is at 1.34. PE ratio of stock for trailing 12 months is 102.62, while it has posted earnings per share of $0.24 in the same period. It has Quick Ratio of 1.18 while making debt-to-equity ratio of 0.53. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for NWSA, volatility over the week remained 1.63% while standing at 1.70% over the month.
Analysts are in expectations that News Corp (NWSA) stock would likely to be making an EPS of $0.19 in the current quarter, while forecast for next quarter EPS is $0.13 and it is $0.84 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.17 which is $0.22 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.14 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 39.44% while it is estimated to increase by 28.69% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Morgan Stanley on August 16, 2023 offering an Overweight rating for the stock and assigned a target price of $27.50 to it.
