News Corporation $NWS Stock: Asset Management One Co. Ltd. Trims Position

Key Points

• Asset Management One cut its News Corp. stake by 96.1% in the third quarter, selling 155,219 shares and retaining 6,378 shares worth about $202,000.
• Institutional investors and hedge funds own 14.63% of the stock. Analyst views were mixed, with MarketBeat reporting an average rating of “Moderate Buy.”
• News Corp. reported quarterly EPS of $0.28, beating estimates by $0.02, while revenue of $2.22 billion fell short of the $2.27 billion consensus.

Asset Management One Co. Ltd. reduced its position in shares of News Corporation (NASDAQ:NWS - Free Report) by 96.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,378 shares of the company's stock after selling 155,219 shares during the period. Asset Management One Co. Ltd.'s holdings in News were worth $202,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its stake in shares of News by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,761,977 shares of the company's stock worth $50,233,000 after purchasing an additional 46,837 shares during the period. Bank of America Corp DE boosted its position in shares of News by 102.7% in the first quarter. Bank of America Corp DE now owns 844,576 shares of the company's stock worth $24,079,000 after acquiring an additional 427,841 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in News by 0.3% in the first quarter. Bank of New York Mellon Corp now owns 699,074 shares of the company's stock valued at $19,931,000 after purchasing an additional 2,193 shares during the period. Quantinno Capital Management LP grew its holdings in News by 128.0% in the first quarter. Quantinno Capital Management LP now owns 681,468 shares of the company's stock valued at $19,429,000 after purchasing an additional 382,644 shares during the period. Finally, Hsbc Holdings PLC increased its position in News by 60.4% during the fourth quarter. Hsbc Holdings PLC now owns 268,349 shares of the company's stock worth $7,971,000 after purchasing an additional 101,018 shares during the last quarter. 14.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

News Stock Up 4.1%

Shares of News stock opened at $33.39 on Thursday. The company has a fifty day moving average price of $32.88 and a 200 day moving average price of $30.47. The company has a current ratio of 1.62, a quick ratio of 1.51 and a debt-to-equity ratio of 0.22. News Corporation has a twelve month low of $25.49 and a twelve month high of $35.76. The stock has a market cap of $18.07 billion, a price-to-earnings ratio of 32.42 and a beta of 1.00.

News (NASDAQ:NWS - Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.02. The firm 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 7.09% and a net margin of 6.35%. Equities research analysts forecast that News Corporation will post 1.31 earnings per share for the current fiscal year.

News Profile

News Corporation NASDAQ: NWS is a global media and information services company with businesses spanning news, publishing, digital real estate services and subscription-based content. The company operates through a portfolio of brands that serve consumers, professionals and businesses across multiple markets.

Its major operations include Dow Jones, which provides business news, financial information and data through publications such as The Wall Street Journal and Barron's; News Corp Australia and News UK, which publish newspapers and digital news platforms; and HarperCollins Publishers, a global book publishing company.

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