New York State Teachers Retirement System Trims Holdings in News Corporation (NASDAQ:NWSA)

New York State Teachers Retirement System lessened its position in shares of News Corporation (NASDAQ:NWSA - Free Report) by 8.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 413,684 shares of the company's stock after selling 40,179 shares during the quarter. New York State Teachers Retirement System owned approximately 0.07% of News worth $11,260,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its position in News by 103.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 23,344 shares of the company's stock valued at $635,000 after buying an additional 11,898 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of News by 11.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,621 shares of the company's stock valued at $1,133,000 after purchasing an additional 4,332 shares during the period. SG Americas Securities LLC acquired a new stake in shares of News in the first quarter valued at about $875,000. CX Institutional acquired a new stake in shares of News in the first quarter valued at about $76,000. Finally, Sowell Financial Services LLC acquired a new stake in shares of News in the first quarter valued at about $200,000. Institutional investors and hedge funds own 66.97% of the company's stock.

Analysts Set New Price Targets

NWSA has been the topic of several research analyst reports. Guggenheim reiterated a "buy" rating and issued a $45.00 target price on shares of News in a research report on Thursday, May 15th. Wall Street Zen lowered shares of News from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Morgan Stanley lowered their price target on shares of News from $38.00 to $37.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $39.20.

News Trading Down 1.2%

NWSA stock traded down $0.37 during trading on Monday, reaching $29.37. 2,699,174 shares of the stock were exchanged, compared to its average volume of 2,940,832. The company has a current ratio of 1.68, a quick ratio of 1.60 and a debt-to-equity ratio of 0.21. The business has a 50 day moving average price of $28.27 and a 200-day moving average price of $27.76. News Corporation has a 1 year low of $23.38 and a 1 year high of $30.69. The firm has a market capitalization of $16.63 billion, a price-to-earnings ratio of 34.15 and a beta of 1.23.

News (NASDAQ:NWSA - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.19 by ($0.02). News had a return on equity of 5.64% and a net margin of 5.18%. The firm had revenue of $2.01 billion for the quarter, compared to analysts' expectations of $2 billion. During the same period last year, the firm earned $0.13 earnings per share. News's revenue for the quarter was up .8% on a year-over-year basis. On average, research analysts predict that News Corporation will post 0.94 earnings per share for the current year.

News Company Profile

News Corporation, a media and information services company, creates and distributes authoritative and engaging content, and other products and services for consumers and businesses worldwide. It operates through six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.