Assenagon Asset Management S.A. Sells 1,167,230 Shares of News Corporation $NWSA

Assenagon Asset Management S.A. decreased its position in News Corporation (NASDAQ:NWSA) by 91.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 104,033 shares of the company’s stock after selling 1,167,230 shares during the quarter. Assenagon Asset Management S.A.’s holdings in News were worth $3,195,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Public Employees Retirement System of Ohio increased its stake in shares of 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 acquiring an additional 344 shares in the last quarter. Amalgamated Bank increased its stake in shares of News by 0.6% during the second quarter. Amalgamated Bank now owns 74,022 shares of the company’s stock valued at $2,200,000 after purchasing an additional 445 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of News by 5.4% during the second quarter. GAMMA Investing LLC now owns 9,545 shares of the company’s stock valued at $284,000 after purchasing an additional 487 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of News by 1.4% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 37,245 shares of the company’s stock worth $1,102,000 after purchasing an additional 505 shares in the last quarter. Finally, Choreo LLC grew its stake in shares of News by 6.4% in the 2nd quarter. Choreo LLC now owns 8,961 shares of the company’s stock worth $266,000 after buying an additional 541 shares during the last quarter. Institutional investors own 66.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on NWSA shares. Guggenheim lowered their price objective on News from $45.00 to $43.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. JPMorgan Chase & Co. lowered their price target on News from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Tuesday, November 25th. Zacks Research downgraded shares of News from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 23rd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of News in a report on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, News has an average rating of “Moderate Buy” and a consensus target price of $37.34.

News Price Performance

Shares of NASDAQ:NWSA opened at $26.27 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.63 and a current ratio of 1.76. The firm has a market cap of $14.75 billion, a price-to-earnings ratio of 12.69 and a beta of 0.97. The business has a 50-day simple moving average of $26.00 and a two-hundred day simple moving average of $28.06. News Corporation has a fifty-two week low of $23.38 and a fifty-two week high of $31.61.

News (NASDAQ:NWSA) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.04. News had a net margin of 13.80% and a return on equity of 5.68%. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter last year, the firm posted $0.21 EPS. The business’s quarterly revenue was down 16.8% compared to the same quarter last year. On average, analysts expect that News Corporation will post 0.94 earnings per share for the current year.

News Profile

News Corporation (NASDAQ: NWSA) is a global diversified media and information services company headquartered in New York City. It operates through two principal segments: News and Information Services, and Digital Real Estate Services. The company’s news and information division oversees a portfolio of leading newspapers, magazines and digital platforms, offering content across print and online channels. Its properties include Dow Jones, publisher of The Wall Street Journal and Barron’s, News UK titles such as The Times and The Sun, as well as News Corp Australia mastheads.

In addition to its journalism assets, News Corp is a significant player in book publishing through HarperCollins, one of the world’s largest consumer publishers.