Acadian Asset Management LLC Acquires New Position in News Corporation (NASDAQ:NWSA)
Acadian Asset Management LLC acquired a new stake in shares of News Corporation (NASDAQ:NWSA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 104,363 shares of the company’s stock, valued at approximately $1,430,000.
Other hedge funds have also recently made changes to their positions in the company. Teachers Advisors LLC increased its stake in shares of 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. Kentucky Retirement Systems purchased a new stake in shares of News Corporation during the fourth quarter valued at approximately $318,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of News Corporation during the fourth quarter valued at approximately $142,000. Macquarie Group Ltd. increased its stake in shares of News Corporation by 960.2% in the fourth quarter. Macquarie Group Ltd. now owns 22,000 shares of the company’s stock valued at $253,000 after buying an additional 19,925 shares during the period. Finally, Chevy Chase Trust Holdings Inc. increased its stake in shares of News Corporation by 3.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 329,152 shares of the company’s stock valued at $4,279,000 after buying an additional 9,894 shares during the period. 93.93% of the stock is currently owned by institutional investors.
Shares of News Corporation (NWSA) traded down 0.84% during mid-day trading on Wednesday, hitting $14.12. 342,572 shares of the stock were exchanged. The stock’s market cap is $8.22 billion. News Corporation has a 12 month low of $10.99 and a 12 month high of $14.68. The stock’s 50 day moving average is $13.78 and its 200-day moving average is $13.04.
News Corporation (NASDAQ:NWSA) last posted its quarterly earnings data on Tuesday, May 9th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.03. News Corporation had a negative net margin of 2.64% and a positive return on equity of 1.77%. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the prior year, the company posted $0.04 earnings per share. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, analysts anticipate that News Corporation will post $0.37 EPS for the current year.
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NWSA has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of News Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, April 11th. Jefferies Group LLC reissued a “buy” rating and set a $17.00 price objective on shares of News Corporation in a research report on Monday, May 22nd. Finally, Rosenblatt Securities initiated coverage on shares of News Corporation in a research report on Friday, July 14th. They set a “buy” rating and a $17.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $15.20.
About News Corporation
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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