Bank of New York Mellon Corp Sells 49,604 Shares of News Corporation $NWSA

Bank of New York Mellon Corp decreased its position in shares of News Corporation (NASDAQ:NWSA) by 1.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,603,533 shares of the company’s stock after selling 49,604 shares during the period. Bank of New York Mellon Corp’s holdings in News were worth $64,906,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. CYBER HORNET ETFs LLC bought a new position in News during the second quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd bought a new stake in News in the 3rd quarter worth approximately $31,000. Advisory Services Network LLC bought a new stake in News in the 3rd quarter worth approximately $35,000. Brown Brothers Harriman & Co. raised its holdings 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 in the last quarter. Finally, Global Retirement Partners LLC boosted its position in shares of News by 561.1% during the 4th quarter. Global Retirement Partners LLC now owns 1,732 shares of the company’s stock valued at $45,000 after acquiring an additional 1,470 shares during the last quarter. 66.97% of the stock is owned by institutional investors.

News Stock Down 0.7%

Shares of NWSA opened at $27.34 on Thursday. 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 business has a fifty day moving average of $26.44 and a 200 day moving average of $25.56. The company has a market cap of $14.97 billion, a PE ratio of 13.60 and a beta of 0.89. News Corporation has a 52-week low of $22.20 and a 52-week high of $31.61.

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

Analyst Upgrades and Downgrades

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