Amundi Sells 44,592 Shares of News Corporation $NWS

Key Points

• Amundi reduced its News Corporation stake by 15.7% in the first quarter, selling 44,592 shares and retaining 238,556 shares valued at approximately $6.8 million.
• Other institutional investors made mixed moves, with several initiating positions and Resona Asset Management and Smartleaf Asset Management significantly increasing their holdings. Institutional investors collectively own 14.63% of News Corporation.
• News shares opened at $33.13, while the company recently reported quarterly earnings of $0.35 per share, beating estimates by $0.11. Analysts maintain a “Moderate Buy” consensus rating, though ratings range from Buy to Hold.

Amundi lessened its position in News Corporation (NASDAQ:NWS - Free Report) by 15.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 238,556 shares of the company's stock after selling 44,592 shares during the quarter. Amundi's holdings in News were worth $6,801,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in NWS. NewEdge Advisors LLC bought a new position in shares of News during the 2nd quarter valued at $30,000. ExodusPoint Capital Management LP bought a new stake in News in the fourth quarter worth $37,000. Arax Advisory Partners bought a new position in shares of News during the fourth quarter valued at about $47,000. Resona Asset Management Co. Ltd. increased its holdings in shares of News by 69.0% in the fourth quarter. Resona Asset Management Co. Ltd. now owns 1,629 shares of the company's stock worth $49,000 after buying an additional 665 shares during the period. Finally, Smartleaf Asset Management LLC increased its holdings in shares of News by 74.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,056 shares of the company's stock worth $62,000 after buying an additional 878 shares during the period. Institutional investors own 14.63% of the company's stock.

News Stock Performance

Shares of News stock opened at $33.13 on Thursday. News Corporation has a 12 month low of $25.49 and a 12 month high of $35.58. The firm has a market capitalization of $18.14 billion, a P/E ratio of 16.48 and a beta of 0.88. The company has a current ratio of 1.70, a quick ratio of 1.59 and a debt-to-equity ratio of 0.21. The business has a fifty day simple moving average of $30.43 and a two-hundred day simple moving average of $29.26.

News (NASDAQ:NWS - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.11. The firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.25 billion. News had a net margin of 12.92% and a return on equity of 6.12%. On average, equities analysts forecast that News Corporation will post 1.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on NWS shares. Weiss Ratings upgraded News from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, July 13th. Zacks Research downgraded shares of News from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, News presently has an average rating of "Moderate Buy".

News Profile

News Corporation NASDAQ: NWS is a global media and information services company engaged in news and digital real estate, book publishing and other media businesses. The company's operations include print and digital newsbrands, business and financial information services, consumer platforms for property listings, and a major book publishing arm. Through its subsidiaries and brands, News Corp produces news content, market and financial reporting, online real-estate marketplaces and trade and consumer publishing products.

Key areas of activity include news and information, where the company publishes national and regional newspapers and operates business information services; book publishing through a well-known global publisher; and property-related digital businesses that operate online marketplaces for real estate listings.

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