Oregon Public Employees Retirement Fund boosted its stake in shares of News Corp. (NASDAQ:NWSA) by 128.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 231,234 shares of the company’s stock after buying an additional 130,046 shares during the period. Oregon Public Employees Retirement Fund’s holdings in News Corp. were worth $3,233,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the stock. Fuller & Thaler Asset Management Inc. bought a new position in News Corp. during the second quarter valued at approximately $116,000. Conning Inc. bought a new position in News Corp. during the second quarter valued at approximately $118,000. Springbok Capital Management LLC bought a new position in News Corp. during the first quarter valued at approximately $136,000. Societe Generale bought a new position in News Corp. during the second quarter valued at approximately $121,000. Finally, GSA Capital Partners LLP bought a new position in News Corp. during the second quarter valued at approximately $130,000. 94.88% of the stock is owned by hedge funds and other institutional investors.
News Corp. (NASDAQ:NWSA) traded up 0.34% during midday trading on Monday, reaching $11.84. The company’s stock had a trading volume of 2,685,084 shares. The firm has a 50-day moving average price of $12.50 and a 200 day moving average price of $12.68. News Corp. has a 52-week low of $10.21 and a 52-week high of $14.68. The stock’s market capitalization is $6.88 billion.
News Corp. (NASDAQ:NWSA) last released its earnings results on Monday, November 7th. The company reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.00 by $0.01. News Corp. had a negative net margin of 0.13% and a positive return on equity of 1.64%. The company earned $1.97 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the previous year, the business posted $0.22 EPS. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. Equities research analysts predict that News Corp. will post $0.39 EPS for the current fiscal year.
Several equities analysts have recently commented on NWSA shares. Jefferies Group reaffirmed a “buy” rating and set a $18.00 target price on shares of News Corp. in a report on Tuesday, November 8th. TheStreet raised News Corp. from a “hold” rating to a “buy” rating in a report on Monday, August 15th. Morgan Stanley reaffirmed a “hold” rating on shares of News Corp. in a report on Thursday, August 18th. Zacks Investment Research lowered News Corp. from a “hold” rating to a “sell” rating in a report on Monday, September 26th. Finally, Bank of America Corp. downgraded News Corp. from a “neutral” rating to an “underperform” rating and set a $14.00 price objective for the company. in a research report on Thursday, October 27th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $16.50.
In related news, CFO Bedi Ajay Singh sold 29,857 shares of the stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $14.39, for a total value of $429,642.23. Following the completion of the sale, the chief financial officer now owns 33,667 shares in the company, valued at $484,468.13. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 13.93% of the stock is currently owned by corporate insiders.
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.