Strs Ohio Decreases Stock Holdings in News Corporation $NWSA

Strs Ohio lowered its holdings in shares of News Corporation (NASDAQ:NWSA) by 4.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 87,411 shares of the company’s stock after selling 4,213 shares during the period. Strs Ohio’s holdings in News were worth $2,598,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NWSA. Cullen Frost Bankers Inc. acquired a new position in News during the second quarter worth about $30,000. Caitong International Asset Management Co. Ltd raised its position in News by 12,084.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,584 shares of the company’s stock worth $43,000 after acquiring an additional 1,571 shares during the last quarter. SVB Wealth LLC purchased a new stake in shares of News during the first quarter worth about $73,000. Horizon Investments LLC grew its holdings in shares of News by 7.7% during the first quarter. Horizon Investments LLC now owns 5,575 shares of the company’s stock worth $152,000 after buying an additional 398 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its holdings in shares of News by 17.2% during the second quarter. V Square Quantitative Management LLC now owns 6,207 shares of the company’s stock worth $184,000 after buying an additional 912 shares in the last quarter. Institutional investors and hedge funds own 66.97% of the company’s stock.

News Price Performance

News stock opened at $25.99 on Tuesday. News Corporation has a 1 year low of $23.38 and a 1 year high of $31.61. The firm has a 50 day moving average price of $28.36 and a 200 day moving average price of $28.51. The company has a market cap of $14.68 billion, a price-to-earnings ratio of 12.50 and a beta of 1.15. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.72 and a current ratio of 1.84.

News (NASDAQ:NWSA) last released its earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.19. News had a net margin of 13.21% and a return on equity of 5.66%. The firm had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the previous year, the firm earned $0.17 earnings per share. News’s revenue was up .8% compared to the same quarter last year. Sell-side analysts predict that News Corporation will post 0.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

NWSA has been the subject of a number of recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of News in a report on Wednesday, October 8th. Zacks Research downgraded shares of News from a “hold” rating to a “strong sell” rating in a report on Thursday, October 23rd. Macquarie reiterated a “neutral” rating and set a $32.70 price target on shares of News in a report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of News from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.62.

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.