Dendur Capital LP Sells 240,000 Shares of News Corporation $NWSA

Dendur Capital LP lowered its position in shares of News Corporation (NASDAQ:NWSA) by 9.6% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,248,000 shares of the company’s stock after selling 240,000 shares during the quarter. News comprises 6.0% of Dendur Capital LP’s holdings, making the stock its 4th biggest position. Dendur Capital LP owned 0.40% of News worth $66,811,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Qube Research & Technologies Ltd raised its stake in News by 6.2% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,728,869 shares of the company’s stock worth $51,382,000 after purchasing an additional 101,645 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of News by 3.6% during the second quarter. Daiwa Securities Group Inc. now owns 61,990 shares of the company’s stock worth $1,842,000 after purchasing an additional 2,167 shares during the period. Ossiam raised its position in shares of News by 22.7% in the second quarter. Ossiam now owns 59,407 shares of the company’s stock valued at $1,766,000 after buying an additional 10,992 shares in the last quarter. Cerity Partners LLC raised its position in shares of News by 150.1% in the second quarter. Cerity Partners LLC now owns 206,559 shares of the company’s stock valued at $6,139,000 after buying an additional 123,973 shares in the last quarter. Finally, Oribel Capital Management LP acquired a new stake in News during the second quarter worth approximately $7,445,000. 66.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on NWSA shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of News in a report on Wednesday, October 8th. Zacks Research downgraded News from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 23rd. JPMorgan Chase & Co. reduced their price objective on shares of News from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 25th. Finally, Guggenheim dropped their target price on shares of News from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, News has a consensus rating of “Moderate Buy” and an average target price of $37.95.

News Stock Performance

News stock opened at $25.95 on Wednesday. The company has a quick ratio of 1.63, a current ratio of 1.76 and a debt-to-equity ratio of 0.21. The stock has a market cap of $14.57 billion, a PE ratio of 12.54 and a beta of 0.97. News Corporation has a 12-month low of $23.38 and a 12-month high of $31.61. The business’s 50-day moving average price is $26.23 and its two-hundred day moving average price is $28.19.

News (NASDAQ:NWSA) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.04. The company 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 5.68%. The firm’s quarterly revenue was down 16.8% compared to the same quarter last year. During the same period last year, the company posted $0.21 EPS. As a group, analysts expect that News Corporation will post 0.94 earnings per share for the current fiscal year.

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.