Assetmark Inc. Sells 8,043 Shares of News Corporation $NWSA

Assetmark Inc. reduced its position in shares of News Corporation (NASDAQ:NWSA) by 35.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,920 shares of the company’s stock after selling 8,043 shares during the period. Assetmark Inc.’s holdings in News were worth $443,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Public Employees Retirement System of Ohio lifted its holdings in News by 0.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 126,293 shares of the company’s stock worth $3,753,000 after buying an additional 344 shares during the period. Signaturefd LLC raised its holdings in shares of News by 3.5% during the first quarter. Signaturefd LLC now owns 11,833 shares of the company’s stock valued at $322,000 after acquiring an additional 398 shares in the last quarter. Horizon Investments LLC lifted its stake in News by 7.7% in the first quarter. Horizon Investments LLC now owns 5,575 shares of the company’s stock worth $152,000 after acquiring an additional 398 shares during the period. GAMMA Investing LLC boosted its holdings in News by 5.4% in the second quarter. GAMMA Investing LLC now owns 9,545 shares of the company’s stock valued at $284,000 after acquiring an additional 487 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its position in News by 1.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 37,245 shares of the company’s stock valued at $1,102,000 after purchasing an additional 505 shares during the period. Hedge funds and other institutional investors own 66.97% of the company’s stock.

News Stock Performance

Shares of NWSA stock opened at $26.72 on Friday. The company has a market capitalization of $15.10 billion, a price-to-earnings ratio of 12.91 and a beta of 1.15. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.72 and a current ratio of 1.84. News Corporation has a one year low of $23.38 and a one year high of $31.61. The company’s 50-day moving average is $28.06 and its 200 day moving average is $28.47.

News (NASDAQ:NWSA) last issued its earnings results on Thursday, November 6th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.04. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.11 billion. News had a net margin of 13.80% and a return on equity of 5.71%. The business’s revenue was down 16.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.21 earnings per share. Sell-side analysts expect that News Corporation will post 0.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NWSA has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of News in a research report on Wednesday, October 8th. Macquarie restated a “neutral” rating and issued a $32.70 price objective on shares of News in a report on Wednesday, August 6th. Zacks Research cut News from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 23rd. Finally, JPMorgan Chase & Co. increased their target price on News from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, News presently has an average rating of “Moderate Buy” and a consensus target price of $38.62.

News Profile

News Corporation, a media and information services company, creates and distributes authoritative and engaging content, and other products and services for consumers and businesses worldwide. It operates through six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.