Retirement Systems of Alabama lifted its position in shares of News Corp (NASDAQ:NWSA) by 1.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 179,421 shares of the company’s stock after acquiring an additional 2,621 shares during the quarter. Retirement Systems of Alabama’s holdings in News were worth $2,232,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in NWSA. Vanguard Group Inc. raised its position in shares of News by 8.0% during the 3rd quarter. Vanguard Group Inc. now owns 53,363,720 shares of the company’s stock worth $705,422,000 after purchasing an additional 3,948,197 shares during the last quarter. Vanguard Group Inc raised its position in shares of News by 0.3% during the 3rd quarter. Vanguard Group Inc now owns 49,570,748 shares of the company’s stock worth $653,838,000 after purchasing an additional 155,225 shares during the last quarter. BlackRock Inc. raised its holdings in News by 2.6% in the 4th quarter. BlackRock Inc. now owns 25,362,106 shares of the company’s stock valued at $287,861,000 after acquiring an additional 638,599 shares during the last quarter. Pzena Investment Management LLC raised its holdings in News by 0.9% in the 4th quarter. Pzena Investment Management LLC now owns 22,738,762 shares of the company’s stock valued at $258,085,000 after acquiring an additional 196,850 shares during the last quarter. Finally, Harris Associates L P raised its holdings in News by 45.7% in the 4th quarter. Harris Associates L P now owns 15,819,883 shares of the company’s stock valued at $179,556,000 after acquiring an additional 4,958,645 shares during the last quarter. 62.16% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have weighed in on NWSA shares. Zacks Investment Research downgraded News from a “buy” rating to a “hold” rating in a report on Friday, February 8th. ValuEngine downgraded News from a “hold” rating to a “sell” rating in a report on Wednesday, January 30th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. News currently has an average rating of “Hold” and a consensus target price of $14.17.
NASDAQ:NWSA traded down $0.04 on Wednesday, reaching $11.76. The stock had a trading volume of 1,548,586 shares, compared to its average volume of 2,603,093. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.15 and a quick ratio of 1.04. The stock has a market cap of $6.67 billion, a P/E ratio of 26.73, a PEG ratio of 3.19 and a beta of 1.45. News Corp has a 12-month low of $10.65 and a 12-month high of $16.34.
News (NASDAQ:NWSA) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.05. The company had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.51 billion. News had a negative net margin of 1.60% and a positive return on equity of 2.59%. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.06 EPS. As a group, equities analysts expect that News Corp will post 0.38 earnings per share for the current year.
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News Company Profile
News Corporation, a media and information services company, creates and distributes content for consumers and businesses worldwide. It operates in five segments: News and Information Services, Book Publishing, Digital Real Estate Services, Subscription Video Services, and Other. The company distributes content and data products, including The Wall Street Journal, Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires, Barron's, MarketWatch, and DJX through various media channels, such as newspapers, newswires, Websites, mobile device applications, tablets and e-book readers, newsletters, magazines, proprietary databases, live journalism, video, and podcasts.
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