Insider Selling: Pitofsky David B, News Corporation [NWSA] General Counsel divested 82,028 shares

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. News Corporation shares valued at $1,536,417 were sold by Pitofsky David B on Aug 15. At $18.73 per share, Pitofsky David B sold 82,028 shares. The insider’s holdings dropped to 87,706 shares worth approximately $1.38 million following the completion of this transaction.

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As published in a research note from Macquarie on July 28, 2022, News Corporation [NWSA] has been rated down from an Outperform to a Neutral and the price target has been revised to $21.10. This represents a 25.64% premium over Thursday’s closing price. Analysts at UBS upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in late July. As of June 01, 2021, UBS has decreased its “Buy” rating to a “Neutral” for NWSA. Earlier on March 18, 2021, Guggenheim upgraded its rating. Their new recommendation was “a Buy” for NWSA stock which previously was a “a Neutral”.

Analyzing NWSA’s Price Performance

On Thursday, News Corporation [NASDAQ: NWSA] plunged -2.00% to $15.69. The stock’s lowest price that day was $15.665, but it reached a high of $16.04 in the same session. During the last five days, there has been a drop of approximately -8.46%. Over the course of the year, News Corporation shares have dropped approximately -29.67%. Shares of the company reached a 52-week high of $23.73 on 02/04/22 and a 52-week low of $14.95 on 06/23/22. A 50-day SMA is recorded $17.14, while a 200-day SMA reached $19.43. Nevertheless, trading volume fell to 2.23 million shares from 2.46 million shares the previous day.

Support And Resistance Levels for News Corporation (NWSA)

According to the 24-hour chart, there is a support level at 15.56, which, if violated, would cause prices to drop to 15.42. In the upper region, resistance lies at 15.93. The next price resistance is at 16.17. RSI (Relative Strength Index) is 33.11 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.67, which suggests the price will decrease in the coming days. Percent R is at 98.85%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is News Corporation subject to short interest?

Stocks of News Corporation saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.57 million shares to 5.17 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 5.74 million shares. A decline of -11.03% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.67 of the overall float, the days-to-cover ratio (short ratio) decline to 1.67.

Which companies own the most shares of News Corporation (NWSA)?

According to T. Rowe Price Associates, Inc. filings, the company currently owns 68,042,667 shares, which is about 17.65% of the total NWSA shares outstanding. The investor’s shares have appreciated by 12,921,681 from its previous 13-F filing of 55120986.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $901,311,395. Independent Franchise Partners LL reduced a -3.38% interest valued at $475.43 million while BlackRock Fund Advisors purchased a 483,977 stake. A total of -1,374,023 shares of News Corporation were bought by SSgA Funds Management, Inc. during the quarter, and 223,976 were bought by Yacktman Asset Management LP. In its current portfolio, Burgundy Asset Management Ltd. holds 13,056,016 shares valued at $220.91 million.

In terms of News Corporation share price expectations, FactSet research, analysts set an average price target of $27.01 in the next 12 months, up nearly 66.77% from the previous closing price of $16.01. Analysts anticipate News Corporation stock to reach $34.00 by 2022, with the lowest price target being $18.00. In spite of this, 12 analysts ranked News Corporation stock as an Overweight at the end of 2022. On February 12, 2021, Morgan Stanley assigned a price target of “an Overweight” to the stock and upgraded coverage with a $30.


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