Meiji Yasuda Life Insurance Co decreased its holdings in shares of News Corp (NASDAQ:NWSA) by 20.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,668 shares of the company’s stock after selling 6,040 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in News were worth $294,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of NWSA. Moody National Bank Trust Division acquired a new position in shares of News in the first quarter valued at approximately $26,000. Advisor Group Inc. increased its stake in shares of News by 83.2% in the fourth quarter. Advisor Group Inc. now owns 3,355 shares of the company’s stock valued at $38,000 after buying an additional 1,524 shares during the period. Capital Financial Planning LLC acquired a new position in shares of News in the fourth quarter valued at approximately $48,000. Enlightenment Research LLC acquired a new position in shares of News in the fourth quarter valued at approximately $56,000. Finally, Municipal Employees Retirement System of Michigan acquired a new position in shares of News in the fourth quarter valued at approximately $112,000. 63.90% of the stock is owned by hedge funds and other institutional investors.
News stock opened at $11.83 on Friday. News Corp has a 1 year low of $10.65 and a 1 year high of $16.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.15 and a quick ratio of 1.04. The company has a market capitalization of $6.90 billion, a PE ratio of 26.89 and a beta of 1.42.
News (NASDAQ:NWSA) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.05. News had a positive return on equity of 2.59% and a negative net margin of 1.60%. The company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the prior year, the firm posted $0.06 earnings per share. The firm’s revenue was up 17.4% compared to the same quarter last year. On average, sell-side analysts predict that News Corp will post 0.38 EPS for the current fiscal year.
Separately, Zacks Investment Research raised News from a “sell” rating to a “hold” rating in a research note on Monday, April 8th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $14.17.
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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.
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