The BlackRock Advisors LLC Cuts Position in News Corp. (NWSA)

The BlackRock Advisors LLC Cuts Position in News Corp. (NWSA)

BlackRock Advisors LLC reduced its stake in News Corp. (NASDAQ:NWSA) by 0.3% during the third quarter, Holdings Channel reports. The firm owned 155,143 shares of the company’s stock after selling 414 shares during the period. BlackRock Advisors LLC’s holdings in News Corp. were worth $2,169,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Bank of Montreal Can boosted its position in shares of News Corp. by 27.8% in the third quarter. Bank of Montreal Can now owns 380,354 shares of the company’s stock worth $5,319,000 after buying an additional 82,828 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of News Corp. by 0.8% in the third quarter. Bank of New York Mellon Corp now owns 3,340,912 shares of the company’s stock worth $46,707,000 after buying an additional 27,869 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of News Corp. by 128.5% in the third quarter. Oregon Public Employees Retirement Fund now owns 231,234 shares of the company’s stock worth $3,233,000 after buying an additional 130,046 shares in the last quarter. Sei Investments Co. boosted its position in shares of News Corp. by 1.0% in the third quarter. Sei Investments Co. now owns 404,690 shares of the company’s stock worth $5,657,000 after buying an additional 4,049 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its position in shares of News Corp. by 0.8% in the second quarter. Retirement Systems of Alabama now owns 194,024 shares of the company’s stock worth $2,202,000 after buying an additional 1,599 shares in the last quarter. Hedge funds and other institutional investors own 94.00% of the company’s stock.

Shares of News Corp. (NASDAQ:NWSA) traded down 0.82% during midday trading on Thursday, hitting $12.04. The stock had a trading volume of 2,306,417 shares. The firm’s 50-day moving average is $11.84 and its 200 day moving average is $12.73. News Corp. has a one year low of $10.21 and a one year high of $14.68. The company’s market capitalization is $7.00 billion.

News Corp. (NASDAQ:NWSA) last released its earnings results on Monday, November 7th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.00 by $0.01. News Corp. had a negative net margin of 0.13% and a positive return on equity of 1.64%. The company earned $1.97 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period in the previous year, the company posted $0.22 EPS. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. Equities analysts expect that News Corp. will post $0.39 earnings per share for the current fiscal year.

Several equities analysts have weighed in on NWSA shares. Zacks Investment Research cut News Corp. from a “hold” rating to a “sell” rating in a research note on Monday, September 26th. Bank of America Corp. cut News Corp. from a “neutral” rating to an “underperform” rating and set a $14.00 target price on the stock. in a research note on Thursday, October 27th. TheStreet cut News Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, October 26th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $18.00 target price on shares of News Corp. in a research note on Tuesday, November 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $16.50.

News Corp. Company Profile

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.

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