First Mercantile Trust Co. cut its position in shares of News Corp (NASDAQ:NWSA) by 32.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,450 shares of the company’s stock after selling 4,040 shares during the quarter. First Mercantile Trust Co.’s holdings in News were worth $105,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in NWSA. Dimensional Fund Advisors LP lifted its holdings in shares of News by 47.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,510,010 shares of the company’s stock valued at $73,888,000 after buying an additional 2,095,255 shares during the last quarter. Worldquant Millennium Quantitative Strategies LLC lifted its stake in shares of News by 33.3% in the 4th quarter. Worldquant Millennium Quantitative Strategies LLC now owns 20,022 shares of the company’s stock valued at $227,000 after purchasing an additional 4,999 shares during the period. FMR LLC lifted its stake in shares of News by 22.1% in the 4th quarter. FMR LLC now owns 1,199,147 shares of the company’s stock valued at $13,610,000 after purchasing an additional 216,766 shares during the period. Cohen Klingenstein LLC lifted its stake in shares of News by 33.3% in the 1st quarter. Cohen Klingenstein LLC now owns 13,640 shares of the company’s stock valued at $170,000 after purchasing an additional 3,410 shares during the period. Finally, Squarepoint Ops LLC lifted its stake in shares of News by 25.7% in the 4th quarter. Squarepoint Ops LLC now owns 462,066 shares of the company’s stock valued at $5,244,000 after purchasing an additional 94,520 shares during the period. Hedge funds and other institutional investors own 63.90% of the company’s stock.
NASDAQ:NWSA traded up $0.04 during trading hours on Friday, reaching $11.83. The company had a trading volume of 2,912,159 shares, compared to its average volume of 2,672,884. The company has a current ratio of 1.15, a quick ratio of 1.04 and a debt-to-equity ratio of 0.08. News Corp has a 52 week low of $10.65 and a 52 week high of $16.11. The company has a market cap of $6.90 billion, a PE ratio of 26.89 and a beta of 1.42.
News (NASDAQ:NWSA) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.05. News had a negative net margin of 1.60% and a positive return on equity of 2.59%. The business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter last year, the company posted $0.06 EPS. The company’s revenue was up 17.4% compared to the same quarter last year. Research analysts forecast that News Corp will post 0.38 earnings per share for the current year.
Separately, Zacks Investment Research downgraded News from a “hold” rating to a “sell” rating in a research note on Wednesday, March 27th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $14.17.
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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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