Burgundy Asset Management Ltd. cut its stake in shares of News Co. (NASDAQ:NWSA - Free Report) by 9.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,800,202 shares of the company's stock after selling 604,305 shares during the period. News comprises approximately 1.6% of Burgundy Asset Management Ltd.'s holdings, making the stock its 24th largest position. Burgundy Asset Management Ltd. owned approximately 1.02% of News worth $159,738,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in NWSA. Larson Financial Group LLC boosted its holdings in shares of News by 2,392.9% during the 4th quarter. Larson Financial Group LLC now owns 1,047 shares of the company's stock worth $29,000 after buying an additional 1,005 shares during the period. Optiver Holding B.V. acquired a new stake in shares of News in the fourth quarter valued at about $31,000. Lee Danner & Bass Inc. acquired a new position in shares of News during the 4th quarter worth about $36,000. R Squared Ltd acquired a new position in shares of News during the fourth quarter worth approximately $49,000. Finally, Smartleaf Asset Management LLC increased its position in News by 49.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,989 shares of the company's stock worth $55,000 after acquiring an additional 660 shares during the period. Institutional investors and hedge funds own 66.97% of the company's stock.
Wall Street Analyst Weigh In
NWSA has been the subject of a number of research analyst reports. Morgan Stanley cut their price objective on shares of News from $38.00 to $37.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Wall Street Zen upgraded News from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Seaport Res Ptn raised News to a "strong-buy" rating in a research note on Friday, January 31st. UBS Group upgraded shares of News from a "neutral" rating to a "buy" rating in a research report on Tuesday, February 4th. Finally, Guggenheim restated a "buy" rating and issued a $45.00 price objective on shares of News in a report on Thursday, May 15th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $39.20.
Read Our Latest Stock Report on NWSA
News Stock Up 0.5%
Shares of NWSA stock traded up $0.16 during trading on Wednesday, reaching $28.41. The company's stock had a trading volume of 733,551 shares, compared to its average volume of 2,814,968. News Co. has a one year low of $23.38 and a one year high of $30.69. The business has a fifty day moving average price of $26.93 and a 200-day moving average price of $27.87. The company has a market cap of $16.08 billion, a price-to-earnings ratio of 38.89 and a beta of 1.30. The company has a quick ratio of 1.65, a current ratio of 1.73 and a debt-to-equity ratio of 0.22.
News (NASDAQ:NWSA - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.02). The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2 billion. News had a return on equity of 5.31% and a net margin of 4.22%. The company's quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the firm earned $0.13 earnings per share. Analysts anticipate that News Co. will post 0.94 earnings per share for the current year.
About News
(
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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