Here’s Why You Should Keep Your Positive Momentum in News Corp. (NWSA)

L1 Capital, an investment management firm, published its ‘L1 Long Short Fund Limited’ fourth quarter 2021 investor letter – a copy of which can be downloaded here. A quarterly net return of -1.7% was recorded by the fund for the fourth quarter of 2021, underperforming its S&P ASX 200 AI benchmark by -3.8%. The benchmark meanwhile had a 2.1% gain for the same period. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

L1 Capital Long Short Fund Limited, in its Q4 2021 investor letter, mentioned News Corporation (NASDAQ: NWSA) and discussed its stance on the firm. News Corporation is a New York, New York-based media and publishing company with a $13.4 billion market capitalization. NWSA delivered a 1.52% return since the beginning of the year, while its 12-month returns are down by -4.51%. The stock closed at $22.65 per share on February 11, 2022.

Here is what L1 Capital Long Short Fund Limited has to say about News Corporation in its Q4 2021 investor letter:

“Detailed, bottom-up stock research remains the investment team’s primary focus and the core driver of portfolio performance. 2021 once again demonstrated the team’s ability to identify ‘winners’ through extensive company and industry research across a diverse range of sectors. Key contributors included News Corp, (with its) improving FCF profile and very strong operating trends in all divisions, especially REA, WSJ, Realtor.com and Book Publishing. Continued efforts by management to unlock shareholder value via improved disclosures, targeted M&A, portfolio and cost rationalisation and share buybacks. “

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Our calculations show that News Corporation (NASDAQ: NWSA) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. NWSA was in 34 hedge fund portfolios at the end of the third quarter of 2021, compared to 37 funds in the previous quarter. News Corporation (NASDAQ: NWSA) delivered a -4.87% return in the past 3 months.

In March 2021, we also shared L1 Capital’s Q4 2020 views on NWSA in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.