Burgundy Asset Management Ltd. Has $61.30 Million Holdings in News Co. (NASDAQ:NWS)

Burgundy Asset Management Ltd. lessened its stake in News Co. (NASDAQ:NWS - Free Report) by 9.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,014,492 shares of the company's stock after selling 205,228 shares during the quarter. Burgundy Asset Management Ltd. owned about 0.35% of News worth $61,301,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NWS. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in News by 4.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 208,764 shares of the company's stock worth $6,353,000 after acquiring an additional 8,991 shares in the last quarter. Woodline Partners LP acquired a new position in News during the fourth quarter worth about $205,000. Squarepoint Ops LLC bought a new stake in shares of News during the fourth quarter worth about $1,153,000. Teza Capital Management LLC grew its holdings in shares of News by 44.4% during the fourth quarter. Teza Capital Management LLC now owns 78,818 shares of the company's stock worth $2,398,000 after purchasing an additional 24,248 shares during the last quarter. Finally, State of Wyoming bought a new stake in shares of News during the fourth quarter worth about $201,000. Institutional investors and hedge funds own 14.63% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Seaport Res Ptn upgraded News to a "strong-buy" rating in a report on Friday, January 31st.

News Price Performance

News stock opened at $31.98 on Friday. The stock has a market capitalization of $18.10 billion, a price-to-earnings ratio of 43.81 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 stock's 50 day moving average price is $30.87 and its two-hundred day moving average price is $31.43. 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 analysts' consensus estimates of $0.22 by ($0.05). News had a return on equity of 5.31% and a net margin of 4.22%. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2 billion. On average, equities analysts predict that News Co. will post 1.03 earnings per share for the current 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.