Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new stake in shares of News Corp (NASDAQ:NWSA) during the first quarter, according to its most recent filing with the SEC. The fund bought 293,483 shares of the company’s stock, valued at approximately $3,871,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH owned 0.05% of News Corp as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of NWSA. Municipal Employees Retirement System of Michigan raised its position in News Corp by 1.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 12,130 shares of the company’s stock valued at $170,000 after buying an additional 160 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in News Corp by 0.7% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,894 shares of the company’s stock valued at $251,000 after buying an additional 160 shares during the period. New Mexico Educational Retirement Board raised its position in News Corp by 0.5% in the first quarter. New Mexico Educational Retirement Board now owns 38,701 shares of the company’s stock valued at $503,000 after buying an additional 200 shares during the period. Advantus Capital Management Inc raised its position in News Corp by 1.0% in the third quarter. Advantus Capital Management Inc now owns 37,235 shares of the company’s stock valued at $521,000 after buying an additional 371 shares during the period. Finally, State Treasurer State of Michigan raised its position in News Corp by 0.3% in the first quarter. State Treasurer State of Michigan now owns 125,339 shares of the company’s stock valued at $1,629,000 after buying an additional 400 shares during the period. 95.71% of the stock is owned by hedge funds and other institutional investors.
News Corp (NASDAQ:NWSA) traded up 0.94% during midday trading on Friday, reaching $12.82. 1,682,053 shares of the company were exchanged. The company’s market capitalization is $7.46 billion. News Corp has a 52-week low of $10.54 and a 52-week high of $14.68. The company has a 50 day moving average of $12.72 and a 200-day moving average of $12.36.
News Corp (NASDAQ:NWSA) last released its quarterly earnings results on Tuesday, May 9th. The company reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.03. News Corp had a positive return on equity of 1.63% and a negative net margin of 4.43%. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the prior year, the business earned $0.04 earnings per share. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, equities research analysts anticipate that News Corp will post $0.38 earnings per share for the current fiscal year.
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Several research firms have recently weighed in on NWSA. Jefferies Group LLC cut their target price on shares of News Corp to $17.00 in a report on Friday, February 10th. Zacks Investment Research lowered shares of News Corp from a “hold” rating to a “sell” rating in a report on Thursday, May 11th. Morgan Stanley reaffirmed an “equal weight” rating and set a $15.00 target price on shares of News Corp in a report on Monday, March 6th. Finally, Guggenheim reaffirmed a “neutral” rating and set a $13.00 target price on shares of News Corp in a report on Friday, February 10th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. News Corp has an average rating of “Hold” and a consensus target price of $14.75.
About News Corp
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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