Nomura Asset Management Co. Ltd. Lowers Stake in News Corporation (NWSA)
Nomura Asset Management Co. Ltd. decreased its position in shares of News Corporation (NASDAQ:NWSA) by 2.6% during the first quarter, Holdings Channel reports. The fund owned 55,788 shares of the company’s stock after selling 1,512 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in News Corporation were worth $725,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the stock. GSA Capital Partners LLP acquired a new stake in shares of News Corporation during the fourth quarter worth approximately $348,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of News Corporation by 40.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 122,057 shares of the company’s stock worth $1,573,000 after buying an additional 35,260 shares during the last quarter. Dodge & Cox acquired a new stake in shares of News Corporation during the fourth quarter worth approximately $84,719,000. Teachers Advisors LLC boosted its stake in News Corporation by 6.3% in the fourth quarter. Teachers Advisors LLC now owns 473,553 shares of the company’s stock valued at $5,427,000 after buying an additional 28,211 shares in the last quarter. Finally, CMT Capital Markets Trading GmbH purchased a new stake in News Corporation during the first quarter valued at about $180,000. Institutional investors own 92.67% of the company’s stock.
News Corporation (NASDAQ:NWSA) opened at 13.57 on Monday. The company’s market cap is $7.90 billion. The stock has a 50 day moving average of $13.36 and a 200-day moving average of $12.69. News Corporation has a one year low of $10.99 and a one year high of $14.68.
News Corporation (NASDAQ:NWSA) last released its earnings results on Tuesday, May 9th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.04 by $0.03. News Corporation had a negative net margin of 2.64% and a positive return on equity of 1.77%. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the previous year, the firm earned $0.04 earnings per share. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, equities analysts predict that News Corporation will post $0.37 EPS for the current fiscal year.
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Several analysts have issued reports on the stock. Zacks Investment Research cut shares of News Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, April 11th. Rosenblatt Securities assumed coverage on shares of News Corporation in a research note on Friday. They issued a “buy” rating and a $17.00 target price on the stock. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $17.00 target price on shares of News Corporation in a research note on Monday, May 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus 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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