News Corporation (NWS) Stake Lowered by Pzena Investment Management LLC
Pzena Investment Management LLC lessened its position in News Corporation (NASDAQ:NWS) by 2.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 547,085 shares of the company’s stock after selling 13,449 shares during the period. Pzena Investment Management LLC owned approximately 0.09% of News Corporation worth $7,468,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc lifted its stake in shares of News Corporation by 0.3% in the 2nd quarter. CIBC Asset Management Inc now owns 10,360 shares of the company’s stock worth $147,000 after acquiring an additional 35 shares during the period. Utah Retirement Systems lifted its stake in shares of News Corporation by 0.5% in the 2nd quarter. Utah Retirement Systems now owns 22,200 shares of the company’s stock worth $314,000 after acquiring an additional 100 shares during the period. Retirement Systems of Alabama lifted its stake in shares of News Corporation by 0.3% in the 2nd quarter. Retirement Systems of Alabama now owns 58,073 shares of the company’s stock worth $822,000 after acquiring an additional 172 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of News Corporation by 0.4% in the 1st quarter. Ameriprise Financial Inc. now owns 54,210 shares of the company’s stock worth $733,000 after acquiring an additional 216 shares during the period. Finally, Advisors Asset Management Inc. lifted its stake in shares of News Corporation by 3.9% in the 2nd quarter. Advisors Asset Management Inc. now owns 11,210 shares of the company’s stock worth $159,000 after acquiring an additional 425 shares during the period. Institutional investors own 9.73% of the company’s stock.
In related news, CFO Kevin Halpin sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $14.50, for a total value of $72,500.00. Following the completion of the sale, the chief financial officer now owns 29,855 shares in the company, valued at $432,897.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 39.40% of the stock is owned by company insiders.
Shares of News Corporation (NASDAQ NWS) traded up $0.80 during midday trading on Friday, hitting $15.55. 935,900 shares of the company traded hands, compared to its average volume of 375,023. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.56 and a quick ratio of 1.56. News Corporation has a 12-month low of $11.75 and a 12-month high of $16.20. The firm has a market capitalization of $9,049.09, a PE ratio of 35.34 and a beta of 1.88.
News Corporation (NASDAQ:NWS) last announced its quarterly earnings data on Thursday, August 10th. The company reported $0.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.05. News Corporation had a negative net margin of 7.96% and a positive return on equity of 2.27%. The firm had revenue of $2.08 billion during the quarter.
Several analysts have recently commented on the stock. BidaskClub upgraded shares of News Corporation from a “sell” rating to a “hold” rating in a research note on Saturday. Citigroup Inc. upgraded shares of News Corporation from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 26th.
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About News Corporation
News Corporation is a diversified media and information services company. The Company operates in five segments: News and Information Services, Cable Network Programming, Digital Real Estate Services, Book Publishing, and Other. The Company’s business consists of range of media, including news and information services, sports programming in Australia, digital real estate services, book publishing, and pay-television (TV) distribution in Australia, that are distributed under the brands, including The Wall Street Journal, Dow Jones, Herald Sun, The Sun, The Times, HarperCollins Publishers, FOX SPORTS Australia and realestate.com.au.
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