Millennium Management LLC Has $18.34 Million Stock Holdings in News Co. (NASDAQ:NWSA)

Millennium Management LLC trimmed its position in News Co. (NASDAQ:NWSA - Free Report) by 67.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 665,790 shares of the company's stock after selling 1,370,772 shares during the period. Millennium Management LLC owned approximately 0.12% of News worth $18,336,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of NWSA. Barclays PLC raised its position in shares of News by 124.0% in the 3rd quarter. Barclays PLC now owns 14,713,823 shares of the company's stock valued at $391,832,000 after acquiring an additional 8,144,856 shares during the period. Norges Bank acquired a new stake in shares of News in the 4th quarter valued at approximately $172,357,000. Deutsche Bank AG raised its position in shares of News by 291.2% in the 4th quarter. Deutsche Bank AG now owns 4,941,467 shares of the company's stock valued at $136,088,000 after acquiring an additional 3,678,215 shares during the period. Independent Franchise Partners LLP raised its position in shares of News by 11.8% in the 4th quarter. Independent Franchise Partners LLP now owns 26,617,259 shares of the company's stock valued at $733,039,000 after acquiring an additional 2,812,080 shares during the period. Finally, 59 North Capital Management LP raised its position in shares of News by 40.2% in the 4th quarter. 59 North Capital Management LP now owns 8,962,112 shares of the company's stock valued at $246,817,000 after acquiring an additional 2,569,343 shares during the period. 66.97% of the stock is currently owned by institutional investors and hedge funds.

News Stock Down 1.4%

Shares of NWSA stock opened at $27.94 on Thursday. The company has a current ratio of 1.73, a quick ratio of 1.65 and a debt-to-equity ratio of 0.22. News Co. has a 1 year low of $23.38 and a 1 year high of $30.69. The firm's fifty day moving average price is $26.86 and its two-hundred day moving average price is $27.89. The firm has a market capitalization of $15.82 billion, a P/E ratio of 38.27 and a beta of 1.30.

News (NASDAQ:NWSA - Get Free Report) last issued 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 $0.19 by ($0.02). News had a net margin of 4.22% and a return on equity of 5.31%. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2 billion. During the same quarter in the previous year, the firm posted $0.13 earnings per share. The firm's quarterly revenue was up .8% on a year-over-year basis. On average, equities analysts predict that News Co. will post 0.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NWSA. 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 report on Tuesday, February 4th. StockNews.com upgraded shares of News from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Morgan Stanley dropped their price objective on shares of News from $38.00 to $37.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. Finally, Guggenheim restated a "buy" rating and set a $45.00 price objective on shares of News in a report on Thursday, May 15th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $39.20.

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.

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