Profund Advisors LLC Sells 9,567 Shares of News Corporation $NWSA

Profund Advisors LLC trimmed its holdings in shares of News Corporation (NASDAQ:NWSA) by 36.6% in the second quarter, according to its most recent filing with the SEC. The firm owned 16,565 shares of the company’s stock after selling 9,567 shares during the period. Profund Advisors LLC’s holdings in News were worth $492,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in NWSA. Cullen Frost Bankers Inc. bought a new stake in shares of News in the 2nd quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd grew its position in News by 12,084.6% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,584 shares of the company’s stock valued at $43,000 after acquiring an additional 1,571 shares during the period. SVB Wealth LLC acquired a new position in News during the first quarter worth $73,000. True Wealth Design LLC boosted its stake in shares of News by 661.1% in the 2nd quarter. True Wealth Design LLC now owns 3,448 shares of the company’s stock valued at $102,000 after purchasing an additional 2,995 shares in the last quarter. Finally, Horizon Investments LLC grew its holdings in shares of News by 7.7% in the 1st quarter. Horizon Investments LLC now owns 5,575 shares of the company’s stock worth $152,000 after purchasing an additional 398 shares during the last quarter. Institutional investors and hedge funds own 66.97% of the company’s stock.

Analyst Upgrades and Downgrades

NWSA has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of News in a report on Wednesday, October 8th. JPMorgan Chase & Co. raised their price objective on shares of News from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. Macquarie restated a “neutral” rating and issued a $32.70 price objective on shares of News in a research report on Wednesday, August 6th. Finally, Zacks Research downgraded News from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, News currently has a consensus rating of “Moderate Buy” and an average target price of $38.62.

News Stock Down 0.0%

Shares of News stock opened at $26.82 on Thursday. The business has a fifty day simple moving average of $27.93 and a 200 day simple moving average of $28.49. The stock has a market cap of $15.15 billion, a PE ratio of 12.96 and a beta of 1.15. The company has a quick ratio of 1.63, a current ratio of 1.76 and a debt-to-equity ratio of 0.21. News Corporation has a 12 month low of $23.38 and a 12 month high of $31.61.

News (NASDAQ:NWSA) last issued its earnings results on Thursday, November 6th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.04. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.11 billion. News had a return on equity of 5.68% and a net margin of 13.80%.The company’s revenue was down 16.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.21 earnings per share. Research analysts predict that News Corporation will post 0.94 EPS for the current year.

About News

News Corporation, a media and information services company, creates and distributes authoritative and engaging content, and other products and services for consumers and businesses worldwide. It operates through six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.