SG Americas Securities LLC Sells 357,108 Shares of News Corporation $NWSA

SG Americas Securities LLC trimmed its stake in News Corporation (NASDAQ:NWSA) by 57.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 261,616 shares of the company’s stock after selling 357,108 shares during the quarter. SG Americas Securities LLC’s holdings in News were worth $6,522,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. CYBER HORNET ETFs LLC purchased a new position in News in the second quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of News in the third quarter valued at $31,000. Advisory Services Network LLC purchased a new position in shares of News during the 3rd quarter valued at $35,000. Brown Brothers Harriman & Co. grew its stake in shares of News by 154.5% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,285 shares of the company’s stock worth $39,000 after acquiring an additional 780 shares during the period. Finally, Global Retirement Partners LLC increased its holdings in News by 561.1% in the 4th quarter. Global Retirement Partners LLC now owns 1,732 shares of the company’s stock worth $45,000 after acquiring an additional 1,470 shares during the last quarter. Hedge funds and other institutional investors own 66.97% of the company’s stock.

News Price Performance

Shares of NASDAQ NWSA opened at $25.41 on Monday. The company has a current ratio of 1.70, a quick ratio of 1.59 and a debt-to-equity ratio of 0.21. The business has a 50-day moving average of $26.17 and a 200-day moving average of $25.44. The firm has a market capitalization of $13.91 billion, a price-to-earnings ratio of 12.64 and a beta of 0.88. News Corporation has a 12 month low of $22.20 and a 12 month high of $31.61.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on NWSA. Morgan Stanley reaffirmed an “overweight” rating and set a $34.00 price objective on shares of News in a report on Sunday, May 10th. Citigroup cut their price objective on shares of News from $39.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Zacks Research raised shares of News from a “strong sell” rating to a “hold” rating in a report on Thursday, March 5th. Wall Street Zen upgraded News from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings raised News from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.14.

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.