Starboard Value LP Sells 250,000 Shares of News Co. (NASDAQ:NWS)

Starboard Value LP decreased its stake in shares of News Co. (NASDAQ:NWS - Free Report) by 2.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,482,000 shares of the company's stock after selling 250,000 shares during the period. News makes up 4.7% of Starboard Value LP's investment portfolio, making the stock its 11th largest holding. Starboard Value LP owned approximately 1.49% of News worth $258,107,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of NWS. Wilmington Savings Fund Society FSB increased its holdings in News by 123.7% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 935 shares of the company's stock valued at $28,000 after buying an additional 517 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in News by 136.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,217 shares of the company's stock valued at $37,000 after buying an additional 702 shares during the last quarter. ExodusPoint Capital Management LP purchased a new stake in News during the fourth quarter valued at approximately $43,000. Mufg Securities Americas Inc. purchased a new stake in News during the fourth quarter valued at approximately $50,000. Finally, Harvest Fund Management Co. Ltd increased its holdings in News by 2,892.8% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 2,065 shares of the company's stock valued at $61,000 after buying an additional 1,996 shares during the last quarter. Institutional investors own 14.63% of the company's stock.

News Price Performance

Shares of NASDAQ NWS traded down $0.43 during midday trading on Wednesday, reaching $32.35. The stock had a trading volume of 424,528 shares, compared to its average volume of 738,395. The stock has a 50-day moving average of $30.86 and a 200-day moving average of $31.42. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.65 and a current ratio of 1.73. The company has a market capitalization of $18.31 billion, a price-to-earnings ratio of 44.32 and a beta of 1.28. News Co. has a 12-month low of $26.04 and a 12-month high of $35.25.

News (NASDAQ:NWS - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.22 by ($0.05). The firm had revenue of $2.01 billion during the quarter, compared to analysts' expectations of $2 billion. News had a return on equity of 5.31% and a net margin of 4.22%. As a group, research analysts anticipate that News Co. will post 1.03 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Seaport Res Ptn raised shares of News to a "strong-buy" rating in a report on Friday, January 31st.

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.