Allspring Global Investments Holdings LLC Sells 117,083 Shares of News Corporation (NASDAQ:NWSA)

Allspring Global Investments Holdings LLC lessened its holdings in shares of News Corporation (NASDAQ:NWSA - Free Report) by 34.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 226,960 shares of the company's stock after selling 117,083 shares during the period. Allspring Global Investments Holdings LLC's holdings in News were worth $6,128,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NWSA. Wealth Enhancement Advisory Services LLC increased its stake in shares of 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. increased its stake in shares of News by 11.3% during 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 buying an additional 4,332 shares during the period. SG Americas Securities LLC bought a new stake in shares of News during the first quarter valued at approximately $875,000. CX Institutional purchased a new stake in News in the first quarter worth $76,000. Finally, Sowell Financial Services LLC purchased a new stake in News in the first quarter worth $200,000. Institutional investors own 66.97% of the company's stock.

News Stock Down 0.3%

News stock traded down $0.08 during mid-day trading on Wednesday, hitting $29.39. The company had a trading volume of 1,722,246 shares, compared to its average volume of 2,935,325. 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 stock's 50 day moving average price is $28.36 and its two-hundred day moving average price is $27.78. News Corporation has a 12 month low of $23.38 and a 12 month high of $30.69. The company has a market capitalization of $16.64 billion, a PE ratio of 34.17 and a beta of 1.23.

News (NASDAQ:NWSA - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.19 by ($0.02). The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2 billion. News had a net margin of 5.18% and a return on equity of 5.64%. The company's revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.13 earnings per share. As a group, sell-side analysts anticipate that News Corporation will post 0.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Guggenheim reaffirmed a "buy" rating and issued a $45.00 price target on shares of News in a research note on Thursday, May 15th. Wall Street Zen cut News from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Morgan Stanley reduced their price target on News from $38.00 to $37.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $39.20.

About News

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.