Teacher Retirement System of Texas Trims Position in News Corporation (NASDAQ:NWSA)

Teacher Retirement System of Texas decreased its holdings in News Corporation (NASDAQ:NWSA - Free Report) by 67.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,399 shares of the company's stock after selling 115,235 shares during the period. Teacher Retirement System of Texas' holdings in News were worth $1,508,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its stake in shares of News by 103.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 23,344 shares of the company's stock worth $635,000 after acquiring an additional 11,898 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of News by 11.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,621 shares of the company's stock worth $1,133,000 after purchasing an additional 4,332 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of News during the 1st quarter worth $875,000. CX Institutional purchased a new stake in shares of News during the 1st quarter worth $76,000. Finally, Sowell Financial Services LLC purchased a new stake in shares of News during the 1st quarter worth $200,000. Institutional investors and hedge funds own 66.97% of the company's stock.

News Stock Performance

NWSA traded down $0.12 on Friday, reaching $29.54. The company had a trading volume of 1,793,876 shares, compared to its average volume of 2,935,614. News Corporation has a 1 year low of $23.38 and a 1 year high of $30.69. The stock has a market capitalization of $16.72 billion, a PE ratio of 34.35 and a beta of 1.23. The company has a quick ratio of 1.60, a current ratio of 1.68 and a debt-to-equity ratio of 0.21. The stock has a 50-day moving average price of $28.45 and a 200-day moving average price of $27.80.

News (NASDAQ:NWSA - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates of $0.19 by ($0.02). News had a net margin of 5.18% and a return on equity of 5.64%. The company had revenue of $2.01 billion during 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 was up .8% on a year-over-year basis. As a group, research analysts forecast that News Corporation will post 0.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NWSA. Guggenheim reaffirmed a "buy" rating and set a $45.00 price objective on shares of News in a research report on Thursday, May 15th. Morgan Stanley decreased their price objective on shares of News from $38.00 to $37.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Finally, Wall Street Zen cut shares of News from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. 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 stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $39.20.

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.