ProShare Advisors LLC Increases Stock Holdings in News Corporation $NWSA

ProShare Advisors LLC increased its holdings in News Corporation (NASDAQ:NWSA) by 6.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,210 shares of the company’s stock after buying an additional 4,451 shares during the period. ProShare Advisors LLC’s holdings in News were worth $2,176,000 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. Nuveen LLC acquired a new stake in shares of News in the first quarter valued at approximately $85,213,000. 59 North Capital Management LP grew its holdings in News by 24.4% during the 1st quarter. 59 North Capital Management LP now owns 11,147,654 shares of the company’s stock valued at $303,439,000 after buying an additional 2,185,542 shares during the last quarter. Dodge & Cox raised its holdings in shares of News by 18.7% in the first quarter. Dodge & Cox now owns 13,846,298 shares of the company’s stock worth $376,896,000 after acquiring an additional 2,183,613 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of News by 1,025.4% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,904,943 shares of the company’s stock valued at $56,615,000 after acquiring an additional 1,735,668 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in News by 1,036.1% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,404,218 shares of the company’s stock worth $41,723,000 after purchasing an additional 1,280,616 shares in the last quarter. Institutional investors and hedge funds own 66.97% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on NWSA shares. JPMorgan Chase & Co. upped 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. Zacks Research lowered shares of News from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of News in a report on Wednesday, October 8th. Macquarie restated a “neutral” rating and set a $32.70 price objective on shares of News in a report on Wednesday, August 6th. Finally, Guggenheim lowered their price objective on News from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, News presently has an average rating of “Moderate Buy” and a consensus target price of $38.28.

News Stock Performance

NASDAQ:NWSA opened at $26.15 on Friday. The firm’s fifty day simple moving average is $27.80 and its 200 day simple moving average is $28.48. The company has a current ratio of 1.76, a quick ratio of 1.63 and a debt-to-equity ratio of 0.21. News Corporation has a twelve month low of $23.38 and a twelve month high of $31.61. The firm has a market capitalization of $14.68 billion, a price-to-earnings ratio of 12.63 and a beta of 1.15.

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

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.