Meeder Asset Management Inc. boosted its position in News Corporation (NASDAQ:NWSA) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 67,118 shares of the company’s stock after buying an additional 374 shares during the period. Meeder Asset Management Inc.’s holdings in News Corporation were worth $920,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. Gulf International Bank UK Ltd raised its position in News Corporation by 2.9% in the first quarter. Gulf International Bank UK Ltd now owns 111,822 shares of the company’s stock worth $1,453,000 after buying an additional 3,200 shares during the period. Chevy Chase Trust Holdings Inc. increased its stake in News Corporation by 3.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 329,152 shares of the company’s stock worth $4,279,000 after buying an additional 9,894 shares in the last quarter. Macquarie Group Ltd. increased its stake in News Corporation by 960.2% in the fourth quarter. Macquarie Group Ltd. now owns 22,000 shares of the company’s stock worth $253,000 after buying an additional 19,925 shares in the last quarter. Highbridge Capital Management LLC acquired a new stake in News Corporation during the fourth quarter worth approximately $2,283,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in News Corporation during the fourth quarter worth approximately $142,000. 93.93% of the stock is currently owned by hedge funds and other institutional investors.
Shares of News Corporation (NASDAQ NWSA) traded down 1.83% during mid-day trading on Friday, hitting $13.43. The company had a trading volume of 3,491,029 shares. The stock’s 50-day moving average is $13.83 and its 200-day moving average is $13.09. The stock’s market cap is $7.81 billion. News Corporation has a 52-week low of $10.99 and a 52-week high of $14.68.
News Corporation (NASDAQ:NWSA) last announced its quarterly earnings data on Thursday, August 10th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. News Corporation had a negative net margin of 2.64% and a positive return on equity of 1.77%. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same period last year, the firm earned $0.10 earnings per share. The business’s revenue for the quarter was down 6.6% on a year-over-year basis. Equities analysts forecast that News Corporation will post $0.48 earnings per share for the current year.
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Several equities research analysts recently issued reports on NWSA shares. Rosenblatt Securities started coverage on News Corporation in a report on Friday, July 14th. They issued a “buy” rating and a $17.00 price objective on the stock. Zacks Investment Research downgraded News Corporation from a “hold” rating to a “sell” rating in a report on Thursday, May 11th. Finally, Jefferies Group LLC restated a “buy” rating and set a $17.00 price target on shares of News Corporation in a report on Monday, May 22nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. News Corporation currently has an average rating of “Hold” and a consensus price target of $15.20.
About News Corporation
News Corporation is a diversified media and information services company. The Company operates in five segments: News and Information Services, Cable Network Programming, Digital Real Estate Services, Book Publishing, and Other. The Company’s business consists of range of media, including news and information services, sports programming in Australia, digital real estate services, book publishing, and pay-television (TV) distribution in Australia, that are distributed under the brands, including The Wall Street Journal, Dow Jones, Herald Sun, The Sun, The Times, HarperCollins Publishers, FOX SPORTS Australia and realestate.com.au.
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