News Corporation (NWSA) Stake Cut by World Asset Management Inc
World Asset Management Inc decreased its position in News Corporation (NASDAQ:NWSA) by 13.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,545 shares of the company’s stock after selling 5,609 shares during the period. World Asset Management Inc’s holdings in News Corporation were worth $487,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of NWSA. Ameritas Investment Partners Inc. acquired a new stake in News Corporation during the first quarter valued at about $118,000. Mn Services Vermogensbeheer B.V. raised its stake in News Corporation by 4.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 9,869 shares of the company’s stock valued at $120,000 after buying an additional 413 shares during the last quarter. Pacer Advisors Inc. raised its stake in News Corporation by 56.6% in the first quarter. Pacer Advisors Inc. now owns 10,662 shares of the company’s stock valued at $139,000 after buying an additional 3,853 shares during the last quarter. QUANTRES ASSET MANAGEMENT Ltd acquired a new stake in News Corporation during the first quarter valued at about $143,000. Finally, Daiwa Securities Group Inc. raised its stake in News Corporation by 23.0% in the first quarter. Daiwa Securities Group Inc. now owns 11,237 shares of the company’s stock valued at $146,000 after buying an additional 2,100 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors.
Shares of News Corporation (NASDAQ:NWSA) opened at 13.68 on Friday. The firm’s market capitalization is $7.96 billion. The company’s 50-day moving average is $13.83 and its 200-day moving average is $13.09. News Corporation has a 12-month low of $10.99 and a 12-month high of $14.68.
News Corporation (NASDAQ:NWSA) last posted its earnings results on Thursday, August 10th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.01. News Corporation had a negative net margin of 2.64% and a positive return on equity of 1.77%. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same period in the previous year, the company earned $0.10 earnings per share. The company’s revenue was down 6.6% compared to the same quarter last year. On average, equities analysts forecast that News Corporation will post $0.36 earnings per share for the current fiscal year.
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Several equities research analysts have recently issued reports on NWSA shares. Zacks Investment Research lowered shares of News Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. Jefferies Group LLC reissued a “buy” rating and issued a $17.00 price objective on shares of News Corporation in a research report on Sunday, July 30th. Finally, Rosenblatt Securities started coverage on shares of News Corporation in a research report on Friday, July 14th. They issued a “buy” rating and a $17.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. News Corporation presently has an average rating of “Hold” and an average price target of $15.20.
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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