Twin Tree Management LP Sells 39,954 Shares of News Corporation $NWSA

Twin Tree Management LP lessened its holdings in News Corporation (NASDAQ:NWSA) by 94.3% in the fourth quarter, HoldingsChannel reports. The fund owned 2,430 shares of the company’s stock after selling 39,954 shares during the period. Twin Tree Management LP’s holdings in News were worth $63,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Syon Capital LLC lifted its position in News by 45.1% during the fourth quarter. Syon Capital LLC now owns 31,213 shares of the company’s stock worth $815,000 after purchasing an additional 9,702 shares during the period. Los Angeles Capital Management LLC bought a new stake in News during the fourth quarter worth about $46,000. Cookson Peirce & Co. Inc. bought a new stake in News during the fourth quarter worth about $344,000. Havemeyer Place LP bought a new stake in News during the fourth quarter worth about $94,000. Finally, Deltroit Asset Management UK LLP bought a new stake in News during the fourth quarter worth about $13,134,000. Institutional investors own 66.97% of the company’s stock.

News Stock Up 0.5%

NWSA stock opened at $27.20 on Wednesday. The stock has a market capitalization of $14.89 billion, a P/E ratio of 13.53 and a beta of 0.88. The company has a current ratio of 1.70, a quick ratio of 1.59 and a debt-to-equity ratio of 0.21. News Corporation has a 12 month low of $22.20 and a 12 month high of $31.61. The firm has a 50-day moving average price of $25.95 and a 200-day moving average price of $25.44.

News (NASDAQ:NWSA) last posted its earnings results on Thursday, May 7th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.05. The firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.11 billion. News had a net margin of 12.92% and a return on equity of 6.12%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.17 earnings per share. As a group, equities research analysts anticipate that News Corporation will post 0.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $34.00 price objective on shares of News in a research report on Sunday, May 10th. Zacks Research raised shares of News from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 5th. Wall Street Zen raised shares of News from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Citigroup cut their price objective on shares of News from $39.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. Finally, Weiss Ratings raised shares of News from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, News presently has a consensus rating of “Moderate Buy” and an average price target of $37.14.

News Company Profile

News Corporation (NASDAQ: NWSA) is a global diversified media and information services company headquartered in New York City. It operates through two principal segments: News and Information Services, and Digital Real Estate Services. The company’s news and information division oversees a portfolio of leading newspapers, magazines and digital platforms, offering content across print and online channels. Its properties include Dow Jones, publisher of The Wall Street Journal and Barron’s, News UK titles such as The Times and The Sun, as well as News Corp Australia mastheads.

In addition to its journalism assets, News Corp is a significant player in book publishing through HarperCollins, one of the world’s largest consumer publishers.