News Corp. (NWSA) Sees Large Increase in Short Interest
News Corp. (NASDAQ:NWSA) was the target of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 10,641,609 shares, an increase of 18.0% from the October 14th total of 9,020,119 shares. Based on an average daily trading volume, of 2,537,327 shares, the short-interest ratio is presently 4.2 days.
News Corp. (NASDAQ:NWSA) opened at 12.00 on Friday. The company’s market capitalization is $6.98 billion. The firm’s 50-day moving average price is $12.95 and its 200 day moving average price is $12.69. News Corp. has a 12-month low of $10.21 and a 12-month high of $14.68.
News Corp. (NASDAQ:NWSA) last issued its earnings results on Monday, November 7th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.00 by $0.01. The business had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.96 billion. News Corp. had a negative net margin of 0.13% and a positive return on equity of 1.64%. The business’s revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 EPS. On average, equities research analysts expect that News Corp. will post $0.39 EPS for the current fiscal year.
Several brokerages have recently commented on NWSA. Morgan Stanley reaffirmed a “hold” rating on shares of News Corp. in a research report on Thursday, August 18th. Zacks Investment Research raised News Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, July 27th. Bank of America Corp. cut News Corp. from a “neutral” rating to an “underperform” rating and set a $14.00 price objective for the company. in a research report on Thursday, October 27th. Jefferies Group reissued a “buy” rating and set a $18.00 price objective on shares of News Corp. in a research report on Tuesday, November 8th. Finally, TheStreet raised News Corp. from a “hold” rating to a “buy” rating in a research report on Monday, August 15th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $16.50.
In other news, CFO Bedi Ajay Singh sold 29,857 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $14.39, for a total value of $429,642.23. Following the completion of the sale, the chief financial officer now owns 33,667 shares of the company’s stock, valued at $484,468.13. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 13.93% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its stake in News Corp. by 49.6% in the third quarter. Victory Capital Management Inc. now owns 7,265 shares of the company’s stock worth $102,000 after buying an additional 2,408 shares in the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in News Corp. during the second quarter worth approximately $116,000. Conning Inc. purchased a new stake in News Corp. during the second quarter worth approximately $118,000. Societe Generale purchased a new stake in News Corp. during the second quarter worth approximately $121,000. Finally, GSA Capital Partners LLP purchased a new stake in News Corp. during the second quarter worth approximately $130,000. Institutional investors and hedge funds own 94.06% of the company’s stock.
About News Corp.
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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