Andra AP fonden Trims Holdings in News Corporation $NWSA

Andra AP fonden cut its position in shares of News Corporation (NASDAQ:NWSA) by 94.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,400 shares of the company’s stock after selling 262,600 shares during the quarter. Andra AP fonden’s holdings in News were worth $359,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new position in shares of News during the fourth quarter valued at approximately $188,788,000. AQR Capital Management LLC increased its stake in News by 488.0% in the second quarter. AQR Capital Management LLC now owns 8,124,507 shares of the company’s stock valued at $241,054,000 after purchasing an additional 6,742,836 shares during the last quarter. Bank of Montreal Can increased its stake in News by 2,348.9% in the fourth quarter. Bank of Montreal Can now owns 5,664,644 shares of the company’s stock valued at $147,961,000 after purchasing an additional 5,433,332 shares during the last quarter. State Street Corp lifted its position in News by 16.5% during the third quarter. State Street Corp now owns 31,356,593 shares of the company’s stock worth $965,673,000 after buying an additional 4,448,929 shares during the period. Finally, Invesco Ltd. boosted its stake in News by 46.6% in the 3rd quarter. Invesco Ltd. now owns 7,706,339 shares of the company’s stock worth $236,662,000 after buying an additional 2,449,552 shares during the last quarter. Institutional investors and hedge funds own 66.97% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Weiss Ratings raised shares of News from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Zacks Research raised shares of News from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 9th. Wall Street Zen raised shares of News from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Morgan Stanley reaffirmed an “overweight” rating and set a $34.00 price target on shares of News in a research note on Sunday, May 10th. Finally, Citigroup cut their target price on News from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $37.14.

News Price Performance

News stock opened at $26.33 on Friday. The firm has a fifty day moving average of $26.44 and a 200-day moving average of $25.56. News Corporation has a 52-week low of $22.20 and a 52-week high of $31.61. The company has a quick ratio of 1.59, a current ratio of 1.70 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $14.41 billion, a P/E ratio of 13.10 and a beta of 0.89.

News (NASDAQ:NWSA) last posted its earnings results on Thursday, May 7th. The company reported $0.21 earnings per share 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 business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the previous year, the business posted $0.17 EPS. The business’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, analysts predict that News Corporation will post 0.92 EPS for the current year.

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.