Gateway Investment Advisers LLC Cuts Stock Holdings in News Co. (NASDAQ:NWSA)

Gateway Investment Advisers LLC lessened its holdings in News Co. (NASDAQ:NWSA - Free Report) by 38.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,553 shares of the company's stock after selling 35,771 shares during the quarter. Gateway Investment Advisers LLC's holdings in News were worth $1,567,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NWSA. Norges Bank acquired a new stake in shares of News during the 4th quarter worth approximately $172,357,000. Asset Value Investors Ltd acquired a new stake in shares of News during the 4th quarter worth approximately $122,391,000. Deutsche Bank AG grew its position in shares of News by 291.2% during the 4th quarter. Deutsche Bank AG now owns 4,941,467 shares of the company's stock worth $136,088,000 after buying an additional 3,678,215 shares during the period. Independent Franchise Partners LLP grew its position in shares of News by 11.8% during the 4th quarter. Independent Franchise Partners LLP now owns 26,617,259 shares of the company's stock worth $733,039,000 after buying an additional 2,812,080 shares during the period. Finally, 59 North Capital Management LP grew its position in shares of News by 40.2% during the 4th quarter. 59 North Capital Management LP now owns 8,962,112 shares of the company's stock worth $246,817,000 after buying an additional 2,569,343 shares during the period. Institutional investors own 66.97% of the company's stock.

News Price Performance

Shares of NWSA traded down $0.08 during midday trading on Wednesday, hitting $27.88. 2,582,628 shares of the company traded hands, compared to its average volume of 2,862,000. The stock has a 50-day moving average of $27.19 and a 200-day moving average of $27.79. News Co. has a one year low of $23.38 and a one year high of $30.69. The firm has a market cap of $15.78 billion, a P/E ratio of 38.19 and a beta of 1.23. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.73 and a quick ratio of 1.65.

News (NASDAQ:NWSA - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.02). News had a net margin of 4.22% and a return on equity of 5.31%. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2 billion. During the same quarter in the prior year, the company earned $0.13 earnings per share. The company's quarterly revenue was up .8% on a year-over-year basis. As a group, sell-side analysts predict that News Co. will post 0.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NWSA. Morgan Stanley reduced their price target 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 downgraded shares of News from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Guggenheim reissued a "buy" rating and issued a $45.00 price target on shares of News in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $39.20.

News Company 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.