QRG Capital Management Inc. Sells 154,251 Shares of News Corporation $NWSA

QRG Capital Management Inc. lowered its holdings in shares of News Corporation (NASDAQ:NWSA) by 69.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,377 shares of the company’s stock after selling 154,251 shares during the period. QRG Capital Management Inc.’s holdings in News were worth $2,069,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Evergreen Capital Management LLC boosted its position in shares of News by 8.3% in the 3rd quarter. Evergreen Capital Management LLC now owns 11,092 shares of the company’s stock worth $341,000 after purchasing an additional 847 shares in the last quarter. Arlington Partners LLC boosted its holdings in News by 3.7% in the third quarter. Arlington Partners LLC now owns 162,905 shares of the company’s stock worth $5,003,000 after acquiring an additional 5,871 shares in the last quarter. Kera Capital Partners Inc. grew its stake in shares of News by 19.1% in the third quarter. Kera Capital Partners Inc. now owns 9,329 shares of the company’s stock worth $286,000 after acquiring an additional 1,495 shares during the last quarter. Argentarii LLC purchased a new stake in shares of News in the third quarter worth $234,000. Finally, Quent Capital LLC purchased a new position in shares of News in the 3rd quarter worth about $120,000. Institutional investors own 66.97% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on NWSA shares. Weiss Ratings downgraded shares of News from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Guggenheim cut their price target on shares of News from $45.00 to $43.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Zacks Research upgraded shares of News from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. Finally, JPMorgan Chase & Co. lowered their price objective on News from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.68.

News Price Performance

Shares of NASDAQ:NWSA opened at $26.25 on Tuesday. The company has a quick ratio of 1.63, a current ratio of 1.76 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $14.74 billion, a PE ratio of 12.68 and a beta of 0.97. The firm’s 50 day moving average price is $26.05 and its 200-day moving average price is $27.75. News Corporation has a twelve month low of $23.38 and a twelve month high of $31.61.

News (NASDAQ:NWSA) last announced its earnings results on Thursday, November 6th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.04. News had a net margin of 13.80% and a return on equity of 5.68%. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same period in the previous year, the business posted $0.21 earnings per share. The firm’s quarterly revenue was down 16.8% compared to the same quarter last year. Equities research analysts expect that News Corporation will post 0.94 EPS for the current year.

News Company 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.