Assenagon Asset Management S.A. Sells 658,057 Shares of News Corp (NWSA)

Assenagon Asset Management S.A. lessened its holdings in shares of News Corp (NASDAQ:NWSA) by 82.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 142,167 shares of the company’s stock after selling 658,057 shares during the period. Assenagon Asset Management S.A.’s holdings in News were worth $1,875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Dupont Capital Management Corp grew its position in News by 74.0% during the second quarter. Dupont Capital Management Corp now owns 7,984 shares of the company’s stock valued at $124,000 after buying an additional 3,396 shares during the period. Greenleaf Trust acquired a new stake in News during the second quarter valued at $156,000. Seven Eight Capital LP acquired a new stake in News during the third quarter valued at $449,000. Oakbrook Investments LLC grew its position in News by 96.1% during the second quarter. Oakbrook Investments LLC now owns 41,390 shares of the company’s stock valued at $642,000 after buying an additional 20,280 shares during the period. Finally, Paloma Partners Management Co acquired a new stake in News during the second quarter valued at $818,000. 60.49% of the stock is owned by hedge funds and other institutional investors.

NWSA has been the topic of several analyst reports. Goldman Sachs Group upgraded shares of News from a “neutral” rating to a “buy” rating in a research report on Tuesday, October 9th. Morgan Stanley lowered shares of News from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $17.00 to $12.50 in a research report on Monday, August 20th. Zacks Investment Research upgraded shares of News from a “sell” rating to a “hold” rating in a research report on Friday, September 14th. Loop Capital upgraded shares of News from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Tuesday, September 4th. Finally, ValuEngine upgraded shares of News from a “sell” rating to a “hold” rating in a research report on Friday, September 28th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $15.50.

Shares of NASDAQ NWSA opened at $14.14 on Friday. News Corp has a 52-week low of $12.23 and a 52-week high of $17.29. The stock has a market capitalization of $7.74 billion, a PE ratio of 32.14, a P/E/G ratio of 5.10 and a beta of 1.61. The company has a current ratio of 1.33, a quick ratio of 1.22 and a debt-to-equity ratio of 0.14.

News (NASDAQ:NWSA) last announced its earnings results on Wednesday, November 7th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.12. News had a negative net margin of 16.78% and a positive return on equity of 2.41%. The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.53 billion. During the same quarter last year, the business earned $0.07 earnings per share. The company’s revenue for the quarter was up 22.6% compared to the same quarter last year. Research analysts predict that News Corp will post 0.38 earnings per share for the current fiscal year.

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News Profile

News Corporation, a media and information services company, creates and distributes content for consumers and businesses worldwide. It operates in five segments: News and Information Services, Book Publishing, Digital Real Estate Services, Subscription Video Services, and Other. The company distributes content and data products, including The Wall Street Journal, Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires, Barron's, MarketWatch, and DJX through various media channels, such as newspapers, newswires, Websites, mobile device applications, tablets and e-book readers, newsletters, magazines, proprietary databases, live journalism, video, and podcasts.

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Institutional Ownership by Quarter for News (NASDAQ:NWSA)

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