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.
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.
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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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