Exxonmobil Investment Management Inc. TX Cuts Stake in News Corporation (NWSA)
Exxonmobil Investment Management Inc. TX cut its position in News Corporation (NASDAQ:NWSA) by 13.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,378 shares of the company’s stock after selling 11,382 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in News Corporation were worth $1,005,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Comerica Bank increased its position in News Corporation by 2.7% in the fourth quarter. Comerica Bank now owns 92,340 shares of the company’s stock valued at $1,113,000 after buying an additional 2,466 shares during the period. GSA Capital Partners LLP bought a new position in News Corporation during the fourth quarter valued at $348,000. Norges Bank bought a new position in News Corporation during the fourth quarter valued at $40,214,000. Teachers Advisors LLC increased its position in News Corporation by 6.3% in the fourth quarter. Teachers Advisors LLC now owns 473,553 shares of the company’s stock valued at $5,427,000 after buying an additional 28,211 shares during the period. Finally, Kentucky Retirement Systems bought a new position in News Corporation during the fourth quarter valued at $318,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.
Shares of News Corporation (NASDAQ NWSA) opened at 13.93 on Friday. The company’s market capitalization is $8.10 billion. The stock has a 50 day moving average price of $13.57 and a 200 day moving average price of $12.87. News Corporation has a one year low of $10.99 and a one year high of $14.68.
News Corporation (NASDAQ:NWSA) last issued its quarterly earnings results on Tuesday, May 9th. The company reported $0.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.03. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.85 billion. News Corporation had a negative net margin of 2.64% and a positive return on equity of 1.77%. News Corporation’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period last year, the company posted $0.04 EPS. On average, equities research analysts predict that News Corporation will post $0.37 earnings per share for the current year.
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Several equities analysts recently weighed in on the company. Zacks Investment Research downgraded News Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, April 11th. Rosenblatt Securities assumed coverage on News Corporation in a report on Friday, July 14th. They set a “buy” rating and a $17.00 price target on the stock. Finally, Jefferies Group LLC reissued a “buy” rating and set a $17.00 price target on shares of News Corporation in a report on Monday, May 22nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $15.20.
News Corporation 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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