Pacer Advisors Inc. Has $174,000 Stock Holdings in News Corporation (NASDAQ:NWS)

Key Points

• Pacer Advisors Inc. significantly reduced its stake in News Corporation by 97.8%, owning only 5,716 shares valued at $174,000 after selling 254,498 shares in the first quarter.
• Other institutional investors, including American Century Companies Inc. and Vanguard Group Inc., increased their investments in News Corporation during the fourth quarter, contributing to a total institutional ownership of 14.63%.
• News Corporation reported a quarterly earnings miss with $0.17 earnings per share, falling short of the expected $0.22, despite revenues meeting targets at $2.01 billion.

Pacer Advisors Inc. lowered its position in News Corporation (NASDAQ:NWS - Free Report) by 97.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 5,716 shares of the company's stock after selling 254,498 shares during the period. Pacer Advisors Inc.'s holdings in News were worth $174,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NWS. American Century Companies Inc. increased its stake in shares of News by 1.5% in the 4th quarter. American Century Companies Inc. now owns 29,896 shares of the company's stock valued at $910,000 after acquiring an additional 429 shares in the last quarter. LPL Financial LLC increased its stake in shares of News by 56.8% in the 4th quarter. LPL Financial LLC now owns 50,373 shares of the company's stock valued at $1,533,000 after acquiring an additional 18,254 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of News by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 6,535,237 shares of the company's stock valued at $198,867,000 after acquiring an additional 138,680 shares in the last quarter. Norges Bank bought a new stake in shares of News in the 4th quarter valued at $14,338,000. Finally, O Shaughnessy Asset Management LLC increased its stake in shares of News by 16.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 5,043 shares of the company's stock valued at $153,000 after acquiring an additional 727 shares in the last quarter. Institutional investors and hedge funds own 14.63% of the company's stock.

News Stock Performance

NASDAQ:NWS opened at $33.25 on Friday. The company has a fifty day moving average of $33.27 and a 200-day moving average of $32.12. The firm has a market capitalization of $18.82 billion, a P/E ratio of 38.66 and a beta of 1.23. The company has a quick ratio of 1.60, a current ratio of 1.68 and a debt-to-equity ratio of 0.21. News Corporation has a twelve month low of $26.04 and a twelve month high of $35.41.

News (NASDAQ:NWS - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.05). The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2 billion. News had a net margin of 5.18% and a return on equity of 5.64%. As a group, sell-side analysts anticipate that News Corporation will post 1.03 EPS 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.