International Value Advisers LLC Decreases Stake in News Corp (NWSA)

International Value Advisers LLC reduced its holdings in shares of News Corp (NASDAQ:NWSA) by 2.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,465,126 shares of the company’s stock after selling 307,527 shares during the quarter. News makes up approximately 4.5% of International Value Advisers LLC’s holdings, making the stock its 8th biggest position. International Value Advisers LLC’s holdings in News were worth $164,415,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of NWSA. Korea Investment CORP lifted its holdings in News by 373.5% during the 3rd quarter. Korea Investment CORP now owns 549,300 shares of the company’s stock valued at $7,245,000 after purchasing an additional 433,300 shares during the last quarter. Pzena Investment Management LLC lifted its holdings in News by 1.2% during the 3rd quarter. Pzena Investment Management LLC now owns 22,541,912 shares of the company’s stock valued at $297,328,000 after purchasing an additional 269,975 shares during the last quarter. Ontario Teachers Pension Plan Board lifted its holdings in News by 54.6% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 43,506 shares of the company’s stock valued at $574,000 after purchasing an additional 15,369 shares during the last quarter. CIBC World Markets Inc. acquired a new stake in News during the 3rd quarter valued at $1,644,000. Finally, American International Group Inc. lifted its holdings in News by 1.3% during the 3rd quarter. American International Group Inc. now owns 312,576 shares of the company’s stock valued at $4,123,000 after purchasing an additional 4,085 shares during the last quarter. 62.12% of the stock is owned by institutional investors.

NWSA opened at $12.61 on Monday. News Corp has a fifty-two week low of $12.23 and a fifty-two week high of $17.29. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.26 and a quick ratio of 1.15. The firm has a market cap of $7.37 billion, a PE ratio of 28.66, a PEG ratio of 4.85 and a beta of 1.61.

News (NASDAQ:NWSA) last posted its earnings results on Wednesday, November 7th. The company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.12. News had a positive return on equity of 2.99% and a negative net margin of 15.61%. The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.53 billion. During the same quarter last year, the firm earned $0.07 earnings per share. The company’s revenue was up 22.6% on a year-over-year basis. On average, sell-side analysts predict that News Corp will post 0.38 EPS for the current year.

NWSA has been the subject of several research reports. Zacks Investment Research raised News from a “sell” rating to a “hold” rating in a report on Friday, September 14th. UBS Group raised News from a “sell” rating to a “neutral” rating in a report on Wednesday, August 29th. ValuEngine downgraded News from a “hold” rating to a “sell” rating in a report on Friday, September 7th. Goldman Sachs Group raised News from a “neutral” rating to a “buy” rating in a report on Tuesday, October 9th. Finally, Morgan Stanley downgraded News from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $17.00 to $12.50 in a report on Monday, August 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $15.50.

TRADEMARK VIOLATION WARNING: “International Value Advisers LLC Decreases Stake in News Corp (NWSA)” was originally posted by WKRB News and is the sole property of of WKRB News. If you are accessing this piece on another publication, it was illegally copied and republished in violation of U.S. and international trademark & copyright law. The legal version of this piece can be viewed at https://www.wkrb13.com/2018/11/26/international-value-advisers-llc-decreases-stake-in-news-corp-nwsa.html.

About News

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.

Featured Story: Google Finance

Want to see what other hedge funds are holding NWSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for News Corp (NASDAQ:NWSA).

Institutional Ownership by Quarter for News (NASDAQ:NWSA)

Receive News & Ratings for News Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for News and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply