News Corporation $NWS Shares Sold by ProShare Advisors LLC

Key Points

• ProShare Advisors cut its News Corporation stake by 80.3% in the third quarter, selling 76,714 shares and retaining 18,762 shares valued at about $595,000.
• Analysts’ consensus rating is “Moderate Buy”: one analyst rated the stock Buy and one rated it Hold. Weiss Ratings upgraded its view, while Zacks Research downgraded its rating to Hold.
• News Corp reported quarterly EPS of $0.28, above the $0.26 estimate, while revenue of $2.22 billion fell short of the $2.27 billion consensus.

ProShare Advisors LLC cut its position in shares of News Corporation (NASDAQ:NWS - Free Report) by 80.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,762 shares of the company's stock after selling 76,714 shares during the period. ProShare Advisors LLC's holdings in News were worth $595,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Allworth Financial LP lifted its position in News by 79.4% in the second quarter. Allworth Financial LP now owns 1,717 shares of the company's stock worth $48,000 after purchasing an additional 760 shares during the period. EverSource Wealth Advisors LLC increased its holdings in News by 21.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,278 shares of the company's stock valued at $65,000 after buying an additional 397 shares during the period. Integrated Wealth Concepts LLC bought a new stake in News in the 2nd quarter valued at $65,000. V Square Quantitative Management LLC increased its holdings in News by 21.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 2,741 shares of the company's stock valued at $87,000 after buying an additional 475 shares during the period. Finally, Bessemer Group Inc. raised its stake in shares of News by 37.2% in the 1st quarter. Bessemer Group Inc. now owns 3,801 shares of the company's stock valued at $108,000 after buying an additional 1,030 shares in the last quarter. 14.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Weiss Ratings raised shares of News from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, October 26th. Zacks Research cut shares of News from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 5th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy".

News Stock Performance

Shares of NWS opened at $28.96 on Monday. News Corporation has a 1 year low of $25.49 and a 1 year high of $35.76. The company has a current ratio of 1.62, a quick ratio of 1.50 and a debt-to-equity ratio of 0.22. The stock has a 50 day simple moving average of $32.63 and a 200-day simple moving average of $30.46. The stock has a market cap of $15.67 billion, a PE ratio of 25.86 and a beta of 1.00.

News (NASDAQ:NWS - Get Free Report) last posted its earnings results on Wednesday, November 4th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.26 by $0.02. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.27 billion. News had a return on equity of 7.42% and a net margin of 6.76%. On average, sell-side analysts predict that News Corporation will post 1.38 EPS for the current fiscal year.

News Profile

News Corporation, which trades on Nasdaq as NWS, is a global media and information services company. Its businesses span news and financial information, book publishing, digital real estate services, and news media.

Its brands and operations include Dow Jones, publisher of The Wall Street Journal and provider of financial information; HarperCollins Publishers; digital real estate platforms such as Realtor.com; and news outlets including the New York Post, The Times and The Sun in the United Kingdom, and publications in Australia.

News Corp serves audiences and customers primarily in the United States, the United Kingdom and Australia, with additional international operations.

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