News Corporation (NASDAQ:NWS) Stake Cut by Algert Global LLC
Algert Global LLC decreased its stake in News Corporation (NASDAQ:NWS) by 51.4% during the second quarter, Holdings Channel reports. The institutional investor owned 38,981 shares of the company’s stock after selling 41,258 shares during the period. Algert Global LLC’s holdings in News Corporation were worth $552,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NWS. Independent Franchise Partners LLP bought a new position in News Corporation during the second quarter valued at about $16,945,000. Norges Bank bought a new position in News Corporation during the fourth quarter valued at about $14,029,000. Dimensional Fund Advisors LP raised its position in News Corporation by 39.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,336,906 shares of the company’s stock valued at $15,777,000 after buying an additional 378,922 shares in the last quarter. State Street Corp raised its position in News Corporation by 7.3% in the first quarter. State Street Corp now owns 4,192,557 shares of the company’s stock valued at $56,601,000 after buying an additional 286,012 shares in the last quarter. Finally, First Quadrant L P CA raised its position in News Corporation by 69.6% in the second quarter. First Quadrant L P CA now owns 314,907 shares of the company’s stock valued at $4,456,000 after buying an additional 129,214 shares in the last quarter. Hedge funds and other institutional investors own 9.95% of the company’s stock.
Shares of News Corporation (NASDAQ:NWS) opened at 14.00 on Friday. The stock’s 50 day moving average price is $14.26 and its 200 day moving average price is $13.47. News Corporation has a one year low of $11.25 and a one year high of $15.22. The company’s market cap is $8.15 billion.
News Corporation (NASDAQ:NWS) last announced its quarterly earnings data on Tuesday, May 9th. The company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.03. News Corporation had a positive return on equity of 1.77% and a negative net margin of 2.64%. The firm had revenue of $1.98 billion during the quarter. Equities analysts predict that News Corporation will post $1.39 earnings per share for the current fiscal year.
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NWS has been the subject of several recent analyst reports. BidaskClub upgraded News Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Citigroup Inc. upgraded News Corporation from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold”.
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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