News Corporation $NWSA Stake Boosted by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in News Corporation (NASDAQ:NWSA) by 5.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 114,407 shares of the company’s stock after purchasing an additional 6,055 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in News were worth $3,400,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Envestnet Asset Management Inc. increased its position in News by 37.4% in the first quarter. Envestnet Asset Management Inc. now owns 33,385 shares of the company’s stock worth $909,000 after buying an additional 9,091 shares during the period. CWM LLC grew its position in shares of News by 161.2% during the first quarter. CWM LLC now owns 25,054 shares of the company’s stock worth $682,000 after acquiring an additional 15,462 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of News by 6.6% in the 1st quarter. Victory Capital Management Inc. now owns 219,799 shares of the company’s stock worth $5,983,000 after acquiring an additional 13,586 shares during the period. Teachers Retirement System of The State of Kentucky lifted its position in News by 4.5% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 29,244 shares of the company’s stock valued at $796,000 after purchasing an additional 1,250 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in News by 9.2% during the 1st quarter. Allianz Asset Management GmbH now owns 475,220 shares of the company’s stock valued at $12,935,000 after purchasing an additional 40,145 shares during the period. Institutional investors and hedge funds own 66.97% of the company’s stock.

News Stock Down 1.3%

NWSA opened at $24.97 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.63 and a current ratio of 1.76. The company has a market capitalization of $14.02 billion, a PE ratio of 12.06 and a beta of 1.15. The stock’s fifty day moving average is $27.55 and its 200-day moving average is $28.44. News Corporation has a one year low of $23.38 and a one year high of $31.61.

News (NASDAQ:NWSA) last announced its earnings results on Thursday, November 6th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.04. News had a return on equity of 5.68% and a net margin of 13.80%.The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter last year, the business posted $0.21 earnings per share. The company’s quarterly revenue was down 16.8% on a year-over-year basis. On average, equities analysts predict that News Corporation will post 0.94 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NWSA shares. Zacks Research downgraded News from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 23rd. JPMorgan Chase & Co. boosted their price target on News from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Weiss Ratings reissued a “buy (b)” rating on shares of News in a report on Wednesday, October 8th. Guggenheim cut their price objective on shares of News from $45.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Finally, Macquarie reiterated a “neutral” rating and issued a $32.70 target price on shares of News in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.28.

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.