Goldman Sachs Group Inc. Has $128.38 Million Position in News Corporation $NWSA

Goldman Sachs Group Inc. cut its position in News Corporation (NASDAQ:NWSA) by 13.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,914,933 shares of the company’s stock after selling 775,379 shares during the quarter. Goldman Sachs Group Inc. owned 0.88% of News worth $128,378,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in NWSA. CYBER HORNET ETFs LLC acquired a new position in shares of News in the 2nd quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of News during the 3rd quarter valued at approximately $31,000. Advisory Services Network LLC bought a new stake in shares of News during the 3rd quarter valued at approximately $35,000. Brown Brothers Harriman & Co. grew 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 valued at $39,000 after purchasing an additional 780 shares during the last quarter. Finally, Global Retirement Partners LLC grew its holdings 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 purchasing an additional 1,470 shares during the last quarter. 66.97% of the stock is currently owned by institutional investors and hedge funds.

News Trading Down 0.7%

NWSA opened at $27.06 on Tuesday. News Corporation has a fifty-two week low of $22.20 and a fifty-two week high of $31.61. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.70 and a quick ratio of 1.59. The firm has a market capitalization of $14.81 billion, a price-to-earnings ratio of 13.46 and a beta of 0.88. The company’s 50 day moving average price is $25.89 and its two-hundred day moving average price is $25.42.

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Weiss Ratings raised shares of News from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. Wall Street Zen raised 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 “strong sell” rating to a “hold” rating in a report on Thursday, March 5th. Citigroup decreased their price target on shares of News from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $34.00 price target on shares of News in a report on Sunday, May 10th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.14.

News 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.