Tokio Marine Asset Management Co. Ltd. reduced its position in shares of News Corp (NASDAQ:NWSA) by 9.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,297 shares of the company’s stock after selling 1,603 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in News Corp were worth $228,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in NWSA. Emerald Acquisition Ltd. acquired a new position in shares of News Corp during the second quarter worth about $39,217,000. Ameriprise Financial Inc. raised its position in shares of News Corp by 49.6% in the second quarter. Ameriprise Financial Inc. now owns 9,327,052 shares of the company’s stock worth $105,859,000 after buying an additional 3,094,200 shares during the last quarter. Thompson Siegel & Walmsley LLC raised its position in shares of News Corp by 62.7% in the second quarter. Thompson Siegel & Walmsley LLC now owns 3,481,807 shares of the company’s stock worth $39,518,000 after buying an additional 1,342,257 shares during the last quarter. Janus Capital Management LLC raised its position in shares of News Corp by 16.1% in the second quarter. Janus Capital Management LLC now owns 6,830,045 shares of the company’s stock worth $77,521,000 after buying an additional 948,721 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of News Corp by 249.1% in the second quarter. First Trust Advisors LP now owns 1,277,759 shares of the company’s stock worth $14,503,000 after buying an additional 911,792 shares during the last quarter. 96.70% of the stock is currently owned by institutional investors.
Shares of News Corp (NASDAQ:NWSA) remained flat at $11.80 during midday trading on Friday. 760,472 shares of the company traded hands. News Corp has a 52-week low of $10.21 and a 52-week high of $14.68. The company’s 50-day moving average price is $12.55 and its 200-day moving average price is $12.67. The stock’s market capitalization is $6.86 billion.
News Corp (NASDAQ:NWSA) last issued its earnings results on Monday, November 7th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.00 by $0.01. News Corp had a positive return on equity of 1.64% and a negative net margin of 0.13%. The firm earned $1.97 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period in the previous year, the company earned $0.22 earnings per share. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, equities analysts predict that News Corp will post $0.39 earnings per share for the current year.
A number of equities analysts have issued reports on NWSA shares. Morgan Stanley reaffirmed a “hold” rating on shares of News Corp in a research report on Thursday, August 18th. TheStreet lowered News Corp from a “buy” rating to a “hold” rating in a research report on Wednesday, October 26th. Bank of America Corp. lowered News Corp from a “neutral” rating to an “underperform” rating and set a $14.00 target price on the stock. in a research report on Thursday, October 27th. Zacks Investment Research lowered News Corp from a “hold” rating to a “sell” rating in a research report on Monday, September 26th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $18.00 target price on shares of News Corp in a research report on Tuesday, November 8th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $16.50.
In other news, CFO Bedi Ajay Singh sold 29,857 shares of the stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $14.39, for a total transaction of $429,642.23. Following the transaction, the chief financial officer now owns 33,667 shares of the company’s stock, valued at approximately $484,468.13. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 13.93% of the company’s stock.
About News Corp
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.