Russell Investments Group Ltd. Decreases Position in News Corporation (NWSA)

Russell Investments Group Ltd. reduced its stake in shares of News Corporation (NASDAQ:NWSA) by 12.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,934,484 shares of the company’s stock after selling 280,011 shares during the period. Russell Investments Group Ltd. owned about 0.33% of News Corporation worth $26,503,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. purchased a new position in News Corporation during the first quarter valued at $118,000. Mn Services Vermogensbeheer B.V. increased its position in News Corporation by 4.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 9,869 shares of the company’s stock valued at $120,000 after buying an additional 413 shares in the last quarter. Pacer Advisors Inc. increased its position in News Corporation by 56.6% in the first quarter. Pacer Advisors Inc. now owns 10,662 shares of the company’s stock valued at $139,000 after buying an additional 3,853 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in News Corporation during the fourth quarter valued at $142,000. Finally, QUANTRES ASSET MANAGEMENT Ltd purchased a new position in News Corporation during the first quarter valued at $143,000. 92.68% of the stock is owned by institutional investors.

Shares of News Corporation (NASDAQ:NWSA) traded down 0.91% during trading on Friday, hitting $14.12. The stock had a trading volume of 1,119,721 shares. The firm’s market cap is $8.22 billion. News Corporation has a 12-month low of $10.99 and a 12-month high of $14.68. The stock has a 50-day moving average of $13.72 and a 200 day moving average of $13.01.

News Corporation (NASDAQ:NWSA) last posted its earnings results on Tuesday, May 9th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. News Corporation had a positive return on equity of 1.77% and a negative net margin of 2.64%. The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same quarter last year, the firm earned $0.04 earnings per share. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, analysts predict that News Corporation will post $0.37 earnings per share for the current fiscal year.

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Several research firms have weighed in on NWSA. Zacks Investment Research downgraded News Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, April 11th. Rosenblatt Securities began coverage on News Corporation in a research report on Friday, July 14th. They issued a “buy” rating and a $17.00 target price for the company. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $17.00 target price on shares of News Corporation in a research report on Sunday, July 30th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. News Corporation has a consensus rating of “Hold” and an average target price of $15.20.

About News Corporation

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.