Pzena Investment Management LLC Sells 95,500 Shares of News Corporation (NWS)

Pzena Investment Management LLC reduced its stake in shares of News Corporation (NASDAQ:NWS) by 14.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 560,534 shares of the company’s stock after selling 95,500 shares during the period. Pzena Investment Management LLC owned approximately 0.10% of News Corporation worth $7,932,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of NWS. Elkfork Partners LLC increased its position in shares of News Corporation by 8.4% in the first quarter. Elkfork Partners LLC now owns 28,710 shares of the company’s stock worth $388,000 after buying an additional 2,222 shares during the period. New Mexico Educational Retirement Board increased its position in shares of News Corporation by 11.0% in the first quarter. New Mexico Educational Retirement Board now owns 12,100 shares of the company’s stock worth $163,000 after buying an additional 1,200 shares during the period. Advisors Asset Management Inc. increased its position in shares of News Corporation by 1.3% in the first quarter. Advisors Asset Management Inc. now owns 10,785 shares of the company’s stock worth $146,000 after buying an additional 138 shares during the period. Algert Global LLC increased its position in shares of News Corporation by 3.4% in the first quarter. Algert Global LLC now owns 80,239 shares of the company’s stock worth $1,083,000 after buying an additional 2,656 shares during the period. Finally, First Trust Advisors LP purchased a new position in shares of News Corporation during the first quarter worth $506,000. 9.94% of the stock is currently owned by institutional investors.

News Corporation (NWS) opened at 13.80 on Wednesday. The company’s 50 day moving average is $14.18 and its 200 day moving average is $13.54. The firm’s market cap is $8.03 billion. News Corporation has a 52-week low of $11.25 and a 52-week high of $15.22.

News Corporation (NASDAQ:NWS) last posted its quarterly earnings data on Thursday, August 10th. The company reported $0.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.05. News Corporation had a negative net margin of 9.07% and a positive return on equity of 1.83%. The company had revenue of $2.08 billion during the quarter. Equities research analysts forecast that News Corporation will post $1.39 EPS for the current fiscal year.

The firm also recently disclosed a semiannual dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Wednesday, September 13th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, September 12th. This represents a dividend yield of 1.45%. News Corporation’s dividend payout ratio (DPR) is -15.63%.

A number of research analysts have weighed in on NWS shares. BidaskClub downgraded shares of News Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. Citigroup Inc. upgraded shares of News Corporation from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold”.

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.