Wedge Capital Management L L P NC increased its holdings in shares of News Corp (NASDAQ:NWSA) by 27.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,520 shares of the company’s stock after acquiring an additional 9,085 shares during the quarter. Wedge Capital Management L L P NC’s holdings in News were worth $561,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. Dupont Capital Management Corp increased its holdings in shares of News by 74.0% during the 2nd quarter. Dupont Capital Management Corp now owns 7,984 shares of the company’s stock worth $124,000 after acquiring an additional 3,396 shares during the last quarter. Greenleaf Trust acquired a new position in shares of News during the 2nd quarter worth approximately $156,000. State of Alaska Department of Revenue increased its holdings in shares of News by 14.0% during the 3rd quarter. State of Alaska Department of Revenue now owns 86,583 shares of the company’s stock worth $1,141,000 after acquiring an additional 10,663 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in News by 5.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 226,964 shares of the company’s stock valued at $2,994,000 after purchasing an additional 10,940 shares during the period. Finally, Oakbrook Investments LLC boosted its stake in News by 42.8% in the 3rd quarter. Oakbrook Investments LLC now owns 59,090 shares of the company’s stock valued at $779,000 after purchasing an additional 17,700 shares during the period. 60.49% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently issued reports on NWSA. Zacks Investment Research upgraded News from a “sell” rating to a “hold” rating in a research note on Monday, September 24th. UBS Group upgraded News from a “sell” rating to a “neutral” rating in a research note on Wednesday, August 29th. ValuEngine downgraded News from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. Finally, Loop Capital upgraded News from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research note on Tuesday, September 4th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. News presently has an average rating of “Hold” and an average target price of $15.50.
News (NASDAQ:NWSA) last released its quarterly earnings results on Wednesday, November 7th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.12. The business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.53 billion. News had a positive return on equity of 2.98% and a negative net margin of 15.61%. The firm’s quarterly revenue was up 22.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.07 EPS. On average, research analysts expect that News Corp will post 0.38 EPS 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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