Geode Capital Management LLC increased its position in News Corporation (NASDAQ:NWS – Free Report) by 3.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,728,263 shares of the company’s stock after buying an additional 124,871 shares during the period. Geode Capital Management LLC’s holdings in News were worth $110,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently bought and sold shares of the company. NewEdge Advisors LLC acquired a new stake in News in the 2nd quarter worth $30,000. Smartleaf Asset Management LLC grew its position in News by 97.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,178 shares of the company’s stock worth $41,000 after purchasing an additional 580 shares during the last quarter. Resona Asset Management Co. Ltd. boosted its position in shares of News by 69.0% during the 4th quarter. Resona Asset Management Co. Ltd. now owns 1,629 shares of the company’s stock valued at $49,000 after acquiring an additional 665 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of News during the 4th quarter valued at about $68,000. Finally, Danske Bank A S acquired a new stake in shares of News during the 3rd quarter valued at about $97,000. Institutional investors own 14.63% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on the stock. Zacks Research lowered shares of News from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Weiss Ratings lowered shares of News from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, April 6th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold”.
News Trading Up 1.3%
Shares of NASDAQ NWS opened at $31.19 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.59 and a debt-to-equity ratio of 0.21. The company has a market cap of $17.07 billion, a PE ratio of 15.52 and a beta of 0.87. The company has a 50-day moving average of $29.69 and a two-hundred day moving average of $29.01. News Corporation has a 1-year low of $25.49 and a 1-year high of $35.58.
News (NASDAQ:NWS – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.07. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.12 billion. News had a net margin of 12.92% and a return on equity of 6.12%. As a group, equities analysts expect that News Corporation will post 0.96 earnings per share for the current fiscal year.
About News
News Corporation (NASDAQ: NWS) is a global media and information services company engaged in news and digital real estate, book publishing and other media businesses. The company’s operations include print and digital newsbrands, business and financial information services, consumer platforms for property listings, and a major book publishing arm. Through its subsidiaries and brands, News Corp produces news content, market and financial reporting, online real-estate marketplaces and trade and consumer publishing products.
Key areas of activity include news and information, where the company publishes national and regional newspapers and operates business information services; book publishing through a well-known global publisher; and property-related digital businesses that operate online marketplaces for real estate listings.
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