News Corporation $NWSA Stock Position Cut by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its stake in shares of News Corporation (NASDAQ:NWSA) by 44.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,180 shares of the company’s stock after selling 22,631 shares during the period. Allspring Global Investments Holdings LLC’s holdings in News were worth $696,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC acquired a new stake in News in the first quarter worth approximately $318,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in News during the first quarter valued at about $283,000. Chicago Partners Investment Group LLC acquired a new position in News during the first quarter worth about $534,000. Citizens Financial Group Inc. RI acquired a new position in News during the first quarter worth about $232,000. Finally, Fifth Third Bancorp raised its position in News by 192.8% in the first quarter. Fifth Third Bancorp now owns 50,942 shares of the company’s stock worth $1,270,000 after acquiring an additional 33,543 shares in the last quarter. Institutional investors own 66.97% of the company’s stock.

News Price Performance

Shares of NASDAQ:NWSA opened at $27.30 on Tuesday. The company’s fifty day moving average is $26.48 and its two-hundred day moving average is $25.57. The company has a market cap of $14.95 billion, a P/E ratio of 13.58 and a beta of 0.89. News Corporation has a 12-month low of $22.20 and a 12-month 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.

News (NASDAQ:NWSA) last issued its earnings results on Thursday, May 7th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.16 by $0.05. News had a return on equity of 6.12% and a net margin of 12.92%.The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter last year, the firm posted $0.17 earnings per share. News’s revenue was up 8.8% compared to the same quarter last year. Equities analysts expect that News Corporation will post 0.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.