Legal & General Group Plc trimmed its position in shares of News Corporation (NASDAQ:NWSA – Free Report) by 13.1% during the fourth quarter, HoldingsChannel reports. The fund owned 1,656,532 shares of the company’s stock after selling 248,954 shares during the quarter. Legal & General Group Plc’s holdings in News were worth $43,269,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in NWSA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of News by 5.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,556 shares of the company’s stock worth $1,022,000 after acquiring an additional 1,950 shares during the period. United Services Automobile Association purchased a new stake in News during the first quarter worth about $206,000. Empowered Funds LLC purchased a new stake in News during the first quarter worth about $204,000. Focus Partners Wealth boosted its holdings in News by 44.4% during the first quarter. Focus Partners Wealth now owns 16,618 shares of the company’s stock worth $452,000 after buying an additional 5,106 shares in the last quarter. Finally, Sivia Capital Partners LLC purchased a new stake in News during the second quarter worth about $545,000. 66.97% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts recently commented on NWSA shares. Weiss Ratings raised shares of News from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday. Wall Street Zen raised shares of News from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Morgan Stanley reissued an “overweight” rating and set a $34.00 price objective on shares of News in a report on Sunday, May 10th. Citigroup decreased their price objective on shares of News from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Finally, Zacks Research raised shares of News from a “strong sell” rating to a “hold” rating in a report on Thursday, March 5th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.14.
News Stock Down 1.6%
Shares of NASDAQ NWSA opened at $26.10 on Friday. News Corporation has a 12-month low of $22.20 and a 12-month high of $31.61. The company has a market capitalization of $14.29 billion, a PE ratio of 12.99 and a beta of 0.89. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.70 and a quick ratio of 1.59. The firm’s 50-day moving average is $25.57 and its two-hundred day moving average is $25.41.
News (NASDAQ:NWSA – Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.05. News had a net margin of 12.92% and a return on equity of 6.12%. The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the prior year, the firm earned $0.17 earnings per share. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. Equities analysts anticipate that News Corporation will post 0.92 EPS for the current fiscal year.
News Profile
News Corporation (NASDAQ: NWSA) is a global diversified media and information services company headquartered in New York City. It operates through two principal segments: News and Information Services, and Digital Real Estate Services. The company’s news and information division oversees a portfolio of leading newspapers, magazines and digital platforms, offering content across print and online channels. Its properties include Dow Jones, publisher of The Wall Street Journal and Barron’s, News UK titles such as The Times and The Sun, as well as News Corp Australia mastheads.
In addition to its journalism assets, News Corp is a significant player in book publishing through HarperCollins, one of the world’s largest consumer publishers.
Read More
- Five stocks we like better than News
- Costco’s Strong Quarter Still Leaves Investors With a Valuation Problem
- These 3 Software Stocks Are Buying Back Shares Hand Over Fist
- Gap Inc. Cuts Sales Outlook After Q1 Miss, Shares Drop 17%
- MongoDB’s AI Advantage Is Starting to Show Up in Results
Want to see what other hedge funds are holding NWSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for News Corporation (NASDAQ:NWSA – Free Report).
Receive News & Ratings for News Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for News and related companies with MarketBeat.com's FREE daily email newsletter.
