News Corp. (NWSA) Position Raised by Oregon Public Employees Retirement Fund
Oregon Public Employees Retirement Fund raised its position in shares of News Corp. (NASDAQ:NWSA) by 128.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 231,234 shares of the company’s stock after buying an additional 130,046 shares during the period. Oregon Public Employees Retirement Fund’s holdings in News Corp. were worth $3,233,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Meeder Asset Management Inc. increased its position in News Corp. by 99.0% in the second quarter. Meeder Asset Management Inc. now owns 189,315 shares of the company’s stock worth $2,148,000 after buying an additional 94,177 shares during the last quarter. Oakbrook Investments LLC increased its position in News Corp. by 18.5% in the second quarter. Oakbrook Investments LLC now owns 33,374 shares of the company’s stock worth $379,000 after buying an additional 5,200 shares during the last quarter. LS Investment Advisors LLC increased its position in News Corp. by 16.9% in the second quarter. LS Investment Advisors LLC now owns 20,529 shares of the company’s stock worth $233,000 after buying an additional 2,970 shares during the last quarter. IBM Retirement Fund increased its position in News Corp. by 0.6% in the second quarter. IBM Retirement Fund now owns 50,403 shares of the company’s stock worth $572,000 after buying an additional 277 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its position in News Corp. by 2.6% in the second quarter. State of Alaska Department of Revenue now owns 61,930 shares of the company’s stock worth $702,000 after buying an additional 1,590 shares during the last quarter. Institutional investors and hedge funds own 94.88% of the company’s stock.
News Corp. (NASDAQ:NWSA) traded up 0.34% during mid-day trading on Monday, reaching $11.84. The company’s stock had a trading volume of 2,685,084 shares. The stock’s market capitalization is $6.88 billion. The firm has a 50-day moving average of $12.50 and a 200-day moving average of $12.68. News Corp. has a 52 week low of $10.21 and a 52 week high of $14.68.
News Corp. (NASDAQ:NWSA) last issued its quarterly earnings data on Monday, November 7th. The company reported ($0.01) EPS for the quarter, missing the Zacks’ consensus estimate of $0.00 by $0.01. The company had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.96 billion. News Corp. had a positive return on equity of 1.64% and a negative net margin of 0.13%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.22 EPS. On average, equities research analysts expect that News Corp. will post $0.39 earnings per share for the current year.
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A number of research analysts have recently commented on the company. Zacks Investment Research downgraded News Corp. from a “hold” rating to a “sell” rating in a report on Monday, September 26th. Morgan Stanley reissued a “hold” rating on shares of News Corp. in a research report on Thursday, August 18th. TheStreet raised News Corp. from a “hold” rating to a “buy” rating in a research report on Monday, August 15th. Bank of America Corp. cut News Corp. from a “neutral” rating to an “underperform” rating and set a $14.00 target price for the company. in a research report on Thursday, October 27th. Finally, Jefferies Group reissued a “buy” rating and issued a $18.00 target price on shares of News Corp. in a research report on Tuesday, November 8th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $16.50.
In other news, CFO Bedi Ajay Singh sold 29,857 shares of News Corp. stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $14.39, for a total transaction of $429,642.23. Following the sale, the chief financial officer now directly owns 33,667 shares of the company’s stock, valued at $484,468.13. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 13.93% of the company’s stock.
News Corp. Company Profile
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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