World Asset Management Inc boosted its stake in News Corp (NASDAQ:NWSA) by 5.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,443 shares of the company’s stock after buying an additional 1,528 shares during the quarter. World Asset Management Inc’s holdings in News were worth $397,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of NWSA. Thompson Siegel & Walmsley LLC grew its stake in shares of News by 6.3% in the first quarter. Thompson Siegel & Walmsley LLC now owns 7,027,238 shares of the company’s stock worth $87,419,000 after acquiring an additional 415,921 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of News by 47.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,510,010 shares of the company’s stock worth $73,888,000 after purchasing an additional 2,095,255 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of News by 8.4% during the 4th quarter. Geode Capital Management LLC now owns 5,592,594 shares of the company’s stock worth $63,378,000 after purchasing an additional 431,498 shares during the last quarter. Norges Bank purchased a new stake in shares of News during the 4th quarter worth $35,042,000. Finally, Acadian Asset Management LLC lifted its position in shares of News by 9.3% during the 1st quarter. Acadian Asset Management LLC now owns 2,209,069 shares of the company’s stock worth $27,482,000 after purchasing an additional 188,848 shares during the last quarter. 63.93% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on NWSA shares. Zacks Investment Research raised shares of News from a “sell” rating to a “hold” rating in a research report on Monday, April 8th. JPMorgan Chase & Co. lowered shares of News from a “neutral” rating to an “underweight” rating in a research note on Thursday, July 18th. BidaskClub lowered shares of News from a “hold” rating to a “sell” rating in a research note on Saturday, July 6th. Finally, ValuEngine upgraded shares of News from a “sell” rating to a “hold” rating in a research note on Monday, June 17th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $14.17.
NASDAQ:NWSA traded down $0.22 during trading hours on Monday, reaching $12.76. 69,621 shares of the company were exchanged, compared to its average volume of 2,642,380. The company has a current ratio of 1.15, a quick ratio of 1.04 and a debt-to-equity ratio of 0.08. The stock has a market cap of $7.60 billion, a price-to-earnings ratio of 28.95 and a beta of 1.51. News Corp has a 52-week low of $10.65 and a 52-week high of $15.44. The company’s 50 day moving average is $13.24.
News (NASDAQ:NWSA) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.04 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.05. The firm had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.51 billion. News had a negative net margin of 1.60% and a positive return on equity of 2.59%. The firm’s revenue was up 17.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.06 EPS. On average, analysts forecast that News Corp will post 0.38 EPS for the current fiscal year.
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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