Levin Capital Strategies L.P. Lowers Stock Holdings in News Corporation $NWSA

Levin Capital Strategies L.P. reduced its position in News Corporation (NASDAQ:NWSA) by 8.7% in the 2nd quarter, Holdings Channel reports. The fund owned 26,349 shares of the company’s stock after selling 2,500 shares during the period. Levin Capital Strategies L.P.’s holdings in News were worth $783,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. iA Global Asset Management Inc. grew its stake in News by 81.1% in the 2nd quarter. iA Global Asset Management Inc. now owns 13,397 shares of the company’s stock worth $398,000 after acquiring an additional 5,998 shares during the period. Tredje AP fonden boosted its holdings in shares of News by 43.2% in the 2nd quarter. Tredje AP fonden now owns 42,552 shares of the company’s stock valued at $1,265,000 after purchasing an additional 12,841 shares during the last quarter. MUFG Securities EMEA plc acquired a new position in shares of News in the 2nd quarter valued at $3,150,000. GAM Holding AG acquired a new position in shares of News in the 2nd quarter valued at $2,675,000. Finally, Earned Wealth Advisors LLC acquired a new position in shares of News in the 2nd quarter valued at $240,000. 66.97% of the stock is owned by hedge funds and other institutional investors.

News Stock Performance

Shares of NWSA stock opened at $25.99 on Tuesday. News Corporation has a 12 month low of $23.38 and a 12 month high of $31.61. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.84 and a quick ratio of 1.72. The firm has a market capitalization of $14.68 billion, a P/E ratio of 12.50 and a beta of 1.15. The company’s fifty day moving average price is $28.36 and its two-hundred day moving average price is $28.51.

News (NASDAQ:NWSA) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.19 EPS for the quarter, hitting analysts’ consensus estimates of $0.19. News had a net margin of 13.21% and a return on equity of 5.66%. The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the previous year, the business posted $0.17 EPS. The firm’s revenue was up .8% compared to the same quarter last year. On average, research analysts anticipate that News Corporation will post 0.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Macquarie reiterated a “neutral” rating and issued a $32.70 price target on shares of News in a report on Wednesday, August 6th. Zacks Research lowered shares of News from a “hold” rating to a “strong sell” rating in a report on Thursday, October 23rd. JPMorgan Chase & Co. lifted their price target on shares of News from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of News in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.62.

News Company Profile

News Corporation, a media and information services company, creates and distributes authoritative and engaging content, and other products and services for consumers and businesses worldwide. It operates through six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.