Bank of America Corp DE reduced its stake in News Co. (NASDAQ:NWS - Free Report) by 57.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 168,540 shares of the company's stock after selling 230,801 shares during the period. Bank of America Corp DE's holdings in News were worth $5,129,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. boosted its position in shares of News by 72.1% during the fourth quarter. Blue Trust Inc. now owns 3,478 shares of the company's stock worth $97,000 after buying an additional 1,457 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in News by 16.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 5,043 shares of the company's stock worth $153,000 after purchasing an additional 727 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in News by 22.9% during the fourth quarter. Asset Management One Co. Ltd. now owns 2,668 shares of the company's stock worth $82,000 after purchasing an additional 497 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in News during the fourth quarter worth approximately $823,000. Finally, LPL Financial LLC raised its holdings in News by 56.8% during the fourth quarter. LPL Financial LLC now owns 50,373 shares of the company's stock worth $1,533,000 after purchasing an additional 18,254 shares in the last quarter. 14.63% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Separately, Seaport Res Ptn raised News to a "strong-buy" rating in a report on Friday, January 31st.
Get Our Latest Stock Report on NWS
News Stock Performance
Shares of NASDAQ NWS remained flat at $32.90 during trading on Thursday. The company's stock had a trading volume of 506,995 shares, compared to its average volume of 738,540. The company has a market cap of $18.63 billion, a P/E ratio of 45.07 and a beta of 1.28. News Co. has a 52 week low of $26.04 and a 52 week high of $35.25. The firm has a 50 day moving average of $31.05 and a 200-day moving average of $31.48. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.65 and a current ratio of 1.73.
News (NASDAQ:NWS - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.05). The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2 billion. News had a net margin of 4.22% and a return on equity of 5.31%. On average, research analysts expect that News Co. will post 1.03 EPS for the current year.
News Company Profile
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Free Report)
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.
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