News Corporation (NASDAQ:NWSA) Shares Sold by TD Asset Management Inc

TD Asset Management Inc lowered its stake in News Corporation (NASDAQ:NWSA - Free Report) by 9.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 418,557 shares of the company's stock after selling 44,482 shares during the quarter. TD Asset Management Inc owned about 0.07% of News worth $11,393,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Optiver Holding B.V. bought a new position in News during the fourth quarter valued at $31,000. Sentry Investment Management LLC bought a new position in shares of News in the 1st quarter valued at about $36,000. CX Institutional bought a new stake in News during the first quarter worth approximately $76,000. Versant Capital Management Inc lifted its stake in shares of News by 714.9% in the 1st quarter. Versant Capital Management Inc now owns 4,433 shares of the company's stock valued at $121,000 after purchasing an additional 3,889 shares during the last quarter. Finally, Central Pacific Bank Trust Division boosted its holdings in shares of News by 53.3% in the 1st quarter. Central Pacific Bank Trust Division now owns 4,600 shares of the company's stock worth $125,000 after purchasing an additional 1,600 shares during the period. 66.97% of the stock is owned by institutional investors.

News Trading Down 0.8%

Shares of NASDAQ NWSA traded down $0.23 during trading hours on Friday, reaching $29.09. The stock had a trading volume of 2,872,101 shares, compared to its average volume of 2,411,190. 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 business's fifty day moving average price is $28.87 and its two-hundred day moving average price is $28.00. The firm has a market cap of $16.47 billion, a price-to-earnings ratio of 33.83 and a beta of 1.23. News Corporation has a 52-week low of $23.38 and a 52-week high of $30.75.

News (NASDAQ:NWSA - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.02). The firm had revenue of $2.01 billion for the quarter, compared to analysts' expectations of $2 billion. News had a net margin of 5.18% and a return on equity of 5.64%. The business's quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.13 EPS. Analysts expect that News Corporation will post 0.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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