Forsta AP Fonden Sells 125,000 Shares of News Corporation $NWSA

Forsta AP Fonden lessened its holdings in News Corporation (NASDAQ:NWSA) by 66.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 64,200 shares of the company’s stock after selling 125,000 shares during the period. Forsta AP Fonden’s holdings in News were worth $1,908,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of NWSA. Cullen Frost Bankers Inc. acquired a new stake in shares of News in the second quarter worth about $30,000. Caitong International Asset Management Co. Ltd raised its stake in shares of News by 12,084.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,584 shares of the company’s stock valued at $43,000 after acquiring an additional 1,571 shares in the last quarter. SVB Wealth LLC acquired a new stake in News in the 1st quarter worth approximately $73,000. Allworth Financial LP boosted its position in News by 160.1% during the second quarter. Allworth Financial LP now owns 3,361 shares of the company’s stock worth $100,000 after purchasing an additional 2,069 shares during the period. Finally, True Wealth Design LLC raised its position in shares of News by 661.1% in the second quarter. True Wealth Design LLC now owns 3,448 shares of the company’s stock valued at $102,000 after purchasing an additional 2,995 shares during the period. 66.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NWSA has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of News from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Zacks Research downgraded 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 research note on Wednesday, October 8th. Guggenheim decreased their target price on News from $45.00 to $43.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Macquarie reaffirmed a “neutral” rating and issued a $32.70 price target 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 given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $38.28.

News Stock Down 0.5%

NASDAQ NWSA opened at $26.15 on Friday. News Corporation has a twelve month low of $23.38 and a twelve month high of $31.61. The stock has a market cap of $14.68 billion, a PE ratio of 12.63 and a beta of 1.15. The firm has a 50-day simple moving average of $27.80 and a 200 day simple moving average of $28.48. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.63 and a current ratio of 1.76.

News (NASDAQ:NWSA) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.22 EPS 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 firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter in the prior year, the firm posted $0.21 EPS. The company’s revenue for the quarter was down 16.8% on a year-over-year basis. On average, research analysts forecast that News Corporation will post 0.94 EPS for the current 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.