News Corporation $NWSA Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC reduced its position in News Corporation (NASDAQ:NWSA) by 49.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 60,700 shares of the company’s stock after selling 60,431 shares during the period. Great Lakes Advisors LLC’s holdings in News were worth $1,864,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in News by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 52,171,790 shares of the company’s stock worth $1,550,546,000 after buying an additional 407,293 shares during the last quarter. Independent Franchise Partners LLP boosted its holdings in News by 7.3% in the second quarter. Independent Franchise Partners LLP now owns 29,170,531 shares of the company’s stock worth $866,948,000 after acquiring an additional 1,980,941 shares in the last quarter. 59 North Capital Management LP grew its stake in shares of News by 13.5% during the second quarter. 59 North Capital Management LP now owns 12,650,867 shares of the company’s stock worth $375,984,000 after acquiring an additional 1,503,213 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of News by 2.1% during the second quarter. Geode Capital Management LLC now owns 10,154,121 shares of the company’s stock worth $300,578,000 after acquiring an additional 208,692 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of News by 488.0% during the second quarter. AQR Capital Management LLC now owns 8,124,507 shares of the company’s stock valued at $241,054,000 after acquiring an additional 6,742,836 shares in the last quarter. Hedge funds and other institutional investors own 66.97% of the company’s stock.

News Price Performance

Shares of NWSA opened at $27.03 on Friday. The business’s 50-day moving average is $26.19 and its two-hundred day moving average is $27.58. The company has a market capitalization of $15.18 billion, a P/E ratio of 13.06 and a beta of 0.97. News Corporation has a fifty-two week low of $23.38 and a fifty-two week high of $31.61. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.63 and a current ratio of 1.76.

News (NASDAQ:NWSA) last issued its quarterly earnings data 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. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.11 billion. News had a return on equity of 5.68% and a net margin of 13.80%.The company’s revenue for the quarter was down 16.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.21 EPS. Research analysts predict that News Corporation will post 0.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NWSA has been the topic of several research analyst reports. Guggenheim dropped their target price on shares of News from $45.00 to $43.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Weiss Ratings downgraded shares of News from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Zacks Research raised News from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 1st. Finally, JPMorgan Chase & Co. lowered their price target on News from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Tuesday, November 25th. 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 company has an average rating of “Moderate Buy” and an average price target of $37.68.

About News

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.