Clinton Group INC Trimmed Position in News Corp New (NWSA) by $3.10 Million

July 16, 2018 - By Pearl Odom

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Greg Taxin decreased its stake in News Corp New (NWSA) by 36.12% based on its latest 2018Q1 regulatory filing with the SEC. Clinton Group Inc sold 206,560 shares as the company’s stock declined 6.37% with the market. The hedge fund run by Greg Taxin held 365,361 shares of the newspapers and magazines company at the end of 2018Q1, valued at $5.77M, down from 571,921 at the end of the previous reported quarter. Clinton Group Inc who had been investing in News Corp New for a number of months, seems to be less bullish one the $9.06B market cap company. The stock decreased 0.83% or $0.13 during the last trading session, reaching $15.46. About 872,189 shares traded. News Corporation (NASDAQ:NWSA) has risen 17.94% since July 16, 2017 and is uptrending. It has outperformed by 5.37% the S&P500.

Clinton Group Inc, which manages about $2.04B and $931.78M US Long portfolio, upped its stake in Conagra Brands Inc (NYSE:CAG) by 206,712 shares to 214,188 shares, valued at $7.90M in 2018Q1, according to the filing. It also increased its holding in Abbvie Inc (NYSE:ABBV) by 141,663 shares in the quarter, for a total of 186,529 shares, and has risen its stake in Cigna Corporation (NYSE:CI).

Analysts await News Corporation (NASDAQ:NWSA) to report earnings on August, 9. They expect $0.06 EPS, down 45.45 % or $0.05 from last year’s $0.11 per share. NWSA’s profit will be $35.15 million for 64.42 P/E if the $0.06 EPS becomes a reality. After $0.06 actual EPS reported by News Corporation for the previous quarter, Wall Street now forecasts 0.00 % EPS growth.

News Corporation (NASDAQ:NWSA) Ratings Coverage

Among 2 analysts covering News Corp (NASDAQ:NWSA), 1 have Buy rating, 0 Sell and 1 Hold. Therefore 50% are positive. News Corp had 2 analyst reports since February 8, 2018 according to SRatingsIntel. As per Thursday, February 8, the company rating was maintained by Jefferies.

News Corporation (NASDAQ:NWSA) Institutional Positions Chart

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