State of Alaska Department of Revenue decreased its position in shares of News Corp (NASDAQ:NWSA) by 6.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 63,858 shares of the company’s stock after selling 4,713 shares during the quarter. State of Alaska Department of Revenue’s holdings in News were worth $902,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. CSat Investment Advisory L.P. increased its holdings in News by 155.3% in the 2nd quarter. CSat Investment Advisory L.P. now owns 2,173 shares of the company’s stock valued at $29,000 after acquiring an additional 1,322 shares during the last quarter. Cerebellum GP LLC bought a new stake in News in the 3rd quarter valued at $128,000. NEXT Financial Group Inc increased its holdings in News by 98,254.5% in the 3rd quarter. NEXT Financial Group Inc now owns 10,819 shares of the company’s stock valued at $150,000 after acquiring an additional 10,808 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in News in the 2nd quarter valued at $183,000. Finally, Daiwa Securities Group Inc. increased its holdings in News by 10.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 15,400 shares of the company’s stock valued at $214,000 after acquiring an additional 1,500 shares during the last quarter. Institutional investors own 62.29% of the company’s stock.
Separately, BidaskClub upgraded shares of News from a “sell” rating to a “hold” rating in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. News has a consensus rating of “Hold” and an average target price of $15.30.
Shares of NASDAQ:NWSA opened at $14.91 on Friday. The company has a market capitalization of $8.77 billion, a price-to-earnings ratio of 45.18 and a beta of 1.49. News Corp has a 12 month low of $11.22 and a 12 month high of $15.07. The firm’s 50-day moving average is $13.89 and its 200 day moving average is $13.63. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 0.21.
News (NASDAQ:NWSA) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. The company had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.39 billion. News had a negative net margin of 1.75% and a positive return on equity of 1.94%. The firm’s revenue was down 7.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.17 EPS. As a group, equities analysts forecast that News Corp will post 0.38 EPS for the current fiscal year.
News Corporation, a media and information services company, creates and distributes content for consumers and businesses worldwide. It operates in five segments: News and Information Services, Book Publishing, Digital Real Estate Services, Subscription Video Services, and Other. The company distributes content and data products, including The Wall Street Journal, Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires, Barron's, MarketWatch, and DJX through various media channels, such as newspapers, newswires, Websites, mobile device applications, tablets and e-book readers, newsletters, magazines, proprietary databases, live journalism, video, and podcasts.
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