Boyar Asset Management Inc. Invests $216,000 in News Corp (NWSA)

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Boyar Asset Management Inc. bought a new position in shares of News Corp (NASDAQ:NWSA) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 16,365 shares of the company’s stock, valued at approximately $216,000.

Several other large investors have also recently modified their holdings of the company. Millennium Management LLC raised its position in shares of News by 126.8% during the 1st quarter. Millennium Management LLC now owns 487,538 shares of the company’s stock valued at $7,703,000 after acquiring an additional 272,542 shares in the last quarter. Oakbrook Investments LLC raised its position in shares of News by 96.1% during the 2nd quarter. Oakbrook Investments LLC now owns 41,390 shares of the company’s stock valued at $642,000 after acquiring an additional 20,280 shares in the last quarter. Achmea Investment Management B.V. raised its position in shares of News by 44.8% during the 2nd quarter. Achmea Investment Management B.V. now owns 135,026 shares of the company’s stock valued at $2,092,000 after acquiring an additional 41,799 shares in the last quarter. Dupont Capital Management Corp raised its position in shares of News by 74.0% during the 2nd quarter. Dupont Capital Management Corp now owns 7,984 shares of the company’s stock valued at $124,000 after acquiring an additional 3,396 shares in the last quarter. Finally, Pzena Investment Management LLC raised its position in shares of News by 1.3% during the 2nd quarter. Pzena Investment Management LLC now owns 22,271,937 shares of the company’s stock valued at $345,215,000 after acquiring an additional 280,602 shares in the last quarter. Institutional investors and hedge funds own 60.49% of the company’s stock.

Several equities research analysts recently issued reports on NWSA shares. Loop Capital raised News from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Tuesday, September 4th. Goldman Sachs Group raised News from a “neutral” rating to a “buy” rating in a research report on Tuesday, October 9th. ValuEngine raised News from a “sell” rating to a “hold” rating in a research report on Friday, September 28th. Zacks Investment Research raised News from a “sell” rating to a “hold” rating in a research report on Monday, September 24th. Finally, UBS Group upgraded News from a “sell” rating to a “neutral” rating in a research note on Wednesday, August 29th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $15.50.

Shares of NWSA opened at $14.14 on Friday. The firm has a market cap of $7.74 billion, a P/E ratio of 29.49, a P/E/G ratio of 5.10 and a beta of 1.61. The company has a quick ratio of 1.22, a current ratio of 1.33 and a debt-to-equity ratio of 0.14. News Corp has a 12 month low of $12.23 and a 12 month high of $17.29.

News (NASDAQ:NWSA) last issued its quarterly earnings data on Wednesday, November 7th. The company reported $0.17 EPS for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.12. The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.53 billion. News had a positive return on equity of 2.41% and a negative net margin of 16.78%. The firm’s revenue was up 22.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.07 EPS. On average, equities analysts forecast that News Corp will post 0.38 earnings per share for the current fiscal year.

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News Company Profile

News Corporation, a media and information services company, creates and distributes content for consumers and businesses worldwide. It operates in five segments: News and Information Services, Book Publishing, Digital Real Estate Services, Subscription Video Services, and Other. The company distributes content and data products, including The Wall Street Journal, Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires, Barron's, MarketWatch, and DJX through various media channels, such as newspapers, newswires, Websites, mobile device applications, tablets and e-book readers, newsletters, magazines, proprietary databases, live journalism, video, and podcasts.

Further Reading: What are the Different Types of Leveraged Buyouts?

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Institutional Ownership by Quarter for News (NASDAQ:NWSA)

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