Twin Tree Management LP Invests $2.91 Million in News Corp (NWSA) Stock
Twin Tree Management LP purchased a new stake in News Corp (NASDAQ:NWSA) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 220,323 shares of the company’s stock, valued at approximately $2,906,000.
Several other hedge funds have also made changes to their positions in the company. Seven Eight Capital LP acquired a new position in News during the third quarter worth $449,000. Putnam Investments LLC increased its holdings in News by 4.9% during the second quarter. Putnam Investments LLC now owns 428,548 shares of the company’s stock worth $6,643,000 after buying an additional 20,006 shares during the last quarter. Tredje AP fonden increased its holdings in News by 28.2% during the second quarter. Tredje AP fonden now owns 237,979 shares of the company’s stock worth $3,689,000 after buying an additional 52,299 shares during the last quarter. SG Americas Securities LLC increased its holdings in News by 67.5% during the second quarter. SG Americas Securities LLC now owns 171,362 shares of the company’s stock worth $2,656,000 after buying an additional 69,082 shares during the last quarter. Finally, Paloma Partners Management Co acquired a new position in News during the second quarter worth $818,000. 62.12% of the stock is currently owned by institutional investors and hedge funds.
NWSA has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of News from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. ValuEngine downgraded shares of News from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. Morgan Stanley downgraded shares of News from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $17.00 to $12.50 in a report on Monday, August 20th. UBS Group upgraded shares of News from a “sell” rating to a “neutral” rating in a report on Wednesday, August 29th. Finally, Loop Capital upgraded shares of News from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Tuesday, September 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $15.50.
News (NASDAQ:NWSA) last released its quarterly earnings data on Wednesday, November 7th. The company reported $0.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.12. News had a negative net margin of 15.61% and a positive return on equity of 2.99%. The firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.53 billion. During the same period in the previous year, the company earned $0.07 earnings per share. The company’s quarterly revenue was up 22.6% on a year-over-year basis. On average, analysts predict that News Corp will post 0.38 earnings per share for the current fiscal year.
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News Corporation, a media and information services company, creates and distributes content for consumers and businesses worldwide. It operates in five segments: News and Information Services, Book Publishing, Digital Real Estate Services, Subscription Video Services, and Other. The company distributes content and data products, including The Wall Street Journal, Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires, Barron's, MarketWatch, and DJX through various media channels, such as newspapers, newswires, Websites, mobile device applications, tablets and e-book readers, newsletters, magazines, proprietary databases, live journalism, video, and podcasts.
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