Bessemer Group Inc. Trims Stake in News Corporation (NASDAQ:NWSA)

Bessemer Group Inc. trimmed its position in shares of News Corporation (NASDAQ:NWSA - Free Report) by 76.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,538 shares of the company's stock after selling 131,677 shares during the quarter. Bessemer Group Inc.'s holdings in News were worth $1,103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Franklin Resources Inc. increased its position in shares of News by 1.9% in the fourth quarter. Franklin Resources Inc. now owns 21,962 shares of the company's stock worth $605,000 after purchasing an additional 418 shares during the last quarter. Boyar Asset Management Inc. lifted its position in shares of News by 2.9% during the 4th quarter. Boyar Asset Management Inc. now owns 15,203 shares of the company's stock valued at $419,000 after buying an additional 422 shares in the last quarter. Metis Global Partners LLC lifted its position in shares of News by 4.4% during the 4th quarter. Metis Global Partners LLC now owns 12,518 shares of the company's stock valued at $345,000 after buying an additional 533 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC lifted its holdings in News by 5.0% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 12,103 shares of the company's stock worth $333,000 after purchasing an additional 574 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in News by 0.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 108,592 shares of the company's stock worth $2,991,000 after purchasing an additional 611 shares in the last quarter. 66.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

News Price Performance

Shares of NASDAQ:NWSA traded down $0.37 during trading on Friday, reaching $29.24. The stock had a trading volume of 1,405,234 shares, compared to its average volume of 2,937,125. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.60 and a current ratio of 1.68. The business has a fifty day moving average price of $28.22 and a 200-day moving average price of $27.75. The stock has a market cap of $16.55 billion, a PE ratio of 34.00 and a beta of 1.23. News Corporation has a 1-year low of $23.38 and a 1-year high of $30.69.

News (NASDAQ:NWSA - Get Free Report) last issued 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 firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2 billion. News had a return on equity of 5.64% and a net margin of 5.18%. The business's revenue was up .8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.13 earnings per share. On average, equities analysts forecast that News Corporation will post 0.94 earnings per share for the current fiscal year.

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.