Bank of America Corp DE Has $11.54 Million Stock Holdings in News Co. (NASDAQ:NWSA)

Bank of America Corp DE reduced its holdings in News Co. (NASDAQ:NWSA - Free Report) by 76.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 419,057 shares of the company's stock after selling 1,349,608 shares during the quarter. Bank of America Corp DE owned 0.07% of News worth $11,541,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in NWSA. Larson Financial Group LLC increased its position 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 valued at $29,000 after purchasing an additional 1,005 shares during the period. Optiver Holding B.V. bought a new stake in News during the fourth quarter worth approximately $31,000. Lee Danner & Bass Inc. bought a new position in shares of News in the fourth quarter valued at $36,000. R Squared Ltd acquired a new stake in shares of News during the 4th quarter valued at $49,000. Finally, Smartleaf Asset Management LLC boosted its stake in shares of News by 49.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,989 shares of the company's stock worth $55,000 after acquiring an additional 660 shares in the last quarter. Institutional investors own 66.97% of the company's stock.

Wall Street Analysts Forecast Growth

NWSA has been the subject of several analyst reports. UBS Group raised News from a "neutral" rating to a "buy" rating in a report on Tuesday, February 4th. Guggenheim reaffirmed a "buy" rating and set a $45.00 price objective on shares of News in a research note on Thursday, May 15th. Seaport Res Ptn upgraded shares of News to a "strong-buy" rating in a report on Friday, January 31st. Morgan Stanley decreased their price objective on shares of News from $38.00 to $37.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Finally, Wall Street Zen raised shares of News from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, News presently has an average rating of "Buy" and an average price target of $39.20.

News Stock Down 0.2%

Shares of NASDAQ:NWSA traded down $0.07 during trading on Wednesday, reaching $28.19. 277,767 shares of the company traded hands, compared to its average volume of 3,300,519. The firm has a fifty day simple moving average of $26.93 and a 200 day simple moving average of $27.87. 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 Co. has a 1-year low of $23.38 and a 1-year high of $30.69. The firm has a market cap of $15.96 billion, a P/E ratio of 38.63 and a beta of 1.30.

News (NASDAQ:NWSA - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.19 by ($0.02). The firm had revenue of $2.01 billion during the quarter, compared to analysts' expectations of $2 billion. News had a net margin of 4.22% and a return on equity of 5.31%. The business's revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.13 EPS. Analysts anticipate that News Co. will post 0.94 earnings per share for the current fiscal year.

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.