GAMMA Investing LLC Purchases 238,348 Shares of News Co. (NASDAQ:NWSA)

GAMMA Investing LLC increased its position in News Co. (NASDAQ:NWSA - Free Report) by 2,902.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 246,559 shares of the company's stock after buying an additional 238,348 shares during the quarter. GAMMA Investing LLC's holdings in News were worth $6,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Versant Capital Management Inc lifted its position in shares of News by 714.9% in the 1st quarter. Versant Capital Management Inc now owns 4,433 shares of the company's stock worth $121,000 after purchasing an additional 3,889 shares during the period. Central Pacific Bank Trust Division raised its stake in News by 53.3% during the 1st quarter. Central Pacific Bank Trust Division now owns 4,600 shares of the company's stock worth $125,000 after buying an additional 1,600 shares during the period. First Hawaiian Bank grew its stake in News by 38.6% in the first quarter. First Hawaiian Bank now owns 17,223 shares of the company's stock valued at $469,000 after acquiring an additional 4,800 shares during the period. California State Teachers Retirement System increased its holdings in shares of News by 8.7% during the fourth quarter. California State Teachers Retirement System now owns 585,310 shares of the company's stock valued at $16,119,000 after acquiring an additional 46,859 shares in the last quarter. Finally, 111 Capital acquired a new position in shares of News during the fourth quarter worth approximately $401,000. 66.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NWSA has been the subject of a number of recent research reports. Wall Street Zen lowered shares of News from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Morgan Stanley reduced their price objective on shares of News from $38.00 to $37.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $45.00 price target on shares of News in a research report on Thursday, May 15th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, News currently has an average rating of "Buy" and a consensus price target of $39.20.

News Stock Performance

Shares of NWSA stock traded down $0.08 during trading on Wednesday, hitting $27.88. The company's stock had a trading volume of 2,582,628 shares, compared to its average volume of 2,862,000. The business has a fifty day moving average of $27.13 and a 200-day moving average of $27.79. The company has a market cap of $15.78 billion, a PE ratio of 38.19 and a beta of 1.23. News Co. has a 52 week low of $23.38 and a 52 week high of $30.69. 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 (NASDAQ:NWSA - Get Free Report) last posted 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 previous year, the company posted $0.13 EPS. News's quarterly revenue was up .8% compared to the same quarter last year. As a group, research analysts anticipate that News Co. will post 0.94 earnings per share for the current year.

About News

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.