Nuveen Asset Management LLC decreased its holdings in News Co. (NASDAQ:NWSA - Free Report) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,269,632 shares of the company's stock after selling 98,799 shares during the quarter. Nuveen Asset Management LLC owned 0.57% of News worth $90,046,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in NWSA. Franklin Resources Inc. lifted its stake in News by 1.9% during the fourth quarter. Franklin Resources Inc. now owns 21,962 shares of the company's stock worth $605,000 after purchasing an additional 418 shares during the period. Ballentine Partners LLC lifted its position in shares of News by 3.8% during the 4th quarter. Ballentine Partners LLC now owns 11,576 shares of the company's stock worth $319,000 after buying an additional 422 shares during the period. Boyar Asset Management Inc. boosted its stake in News by 2.9% in the 4th quarter. Boyar Asset Management Inc. now owns 15,203 shares of the company's stock valued at $419,000 after buying an additional 422 shares in the last quarter. Principal Securities Inc. grew its position in News by 18.5% in the fourth quarter. Principal Securities Inc. now owns 3,334 shares of the company's stock valued at $92,000 after acquiring an additional 521 shares during the period. Finally, Metis Global Partners LLC grew its position in News by 4.4% in the fourth quarter. Metis Global Partners LLC now owns 12,518 shares of the company's stock valued at $345,000 after acquiring an additional 533 shares during the period. 66.97% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on NWSA. Guggenheim reiterated a "buy" rating and issued a $45.00 price target on shares of News in a research report on Thursday, May 15th. Seaport Res Ptn raised shares of News to a "strong-buy" rating in a report on Friday, January 31st. Morgan Stanley cut their target price 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. StockNews.com upgraded News from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Finally, UBS Group upgraded News from a "neutral" rating to a "buy" rating in a research report on Tuesday, February 4th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $39.20.
Read Our Latest Research Report on NWSA
News Stock Performance
Shares of News stock remained flat at $28.33 during midday trading on Tuesday. 2,120,074 shares of the company were exchanged, compared to its average volume of 2,801,880. The company has a quick ratio of 1.65, a current ratio of 1.73 and a debt-to-equity ratio of 0.22. The firm has a market cap of $16.04 billion, a P/E ratio of 38.81 and a beta of 1.30. The company's fifty day moving average is $26.80 and its two-hundred day moving average is $27.89. News Co. has a fifty-two week low of $23.38 and a fifty-two week high of $30.69.
News (NASDAQ:NWSA - Get Free Report) last announced its quarterly earnings data 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 the consensus estimate of $2 billion. News had a net margin of 4.22% and a return on equity of 5.31%. The firm's quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.13 earnings per share. Sell-side analysts expect that News Co. will post 0.94 earnings per share for the current year.
News Company Profile
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Free Report)
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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