ProShare Advisors LLC reduced its position in shares of News Corporation (NASDAQ:NWS – Free Report) by 80.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 18,762 shares of the company’s stock after selling 76,714 shares during the period. ProShare Advisors LLC’s holdings in News were worth $595,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NWS. State of Wyoming bought a new stake in News during the third quarter worth about $208,000. V Square Quantitative Management LLC raised its stake in shares of News by 21.0% in the third quarter. V Square Quantitative Management LLC now owns 2,741 shares of the company’s stock valued at $87,000 after acquiring an additional 475 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in shares of News in the 3rd quarter worth approximately $178,000. Mather Group LLC. acquired a new position in shares of News in the 3rd quarter worth approximately $229,000. Finally, Baker Ellis Asset Management LLC acquired a new position in shares of News in the 3rd quarter worth approximately $1,147,000. 14.63% of the stock is currently owned by institutional investors and hedge funds.
News Price Performance
Shares of NASDAQ NWS opened at $28.96 on Monday. The firm’s 50-day simple moving average is $32.63 and its 200 day simple moving average is $30.46. The company has a market cap of $15.67 billion, a price-to-earnings ratio of 25.86 and a beta of 1.00. The company has a quick ratio of 1.50, a current ratio of 1.62 and a debt-to-equity ratio of 0.22. News Corporation has a 12-month low of $25.49 and a 12-month high of $35.76.
News (NASDAQ:NWS – Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.27 billion. News had a net margin of 6.76% and a return on equity of 7.42%. On average, research analysts expect that News Corporation will post 1.38 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the company. Zacks Research lowered News from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Weiss Ratings upgraded News from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, October 26th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, News has a consensus rating of “Moderate Buy”.
News Company Profile
News Corporation, which trades on Nasdaq as NWS, is a global media and information services company. Its businesses span news and financial information, book publishing, digital real estate services, and news media.
Its brands and operations include Dow Jones, publisher of The Wall Street Journal and provider of financial information; HarperCollins Publishers; digital real estate platforms such as Realtor.com; and news outlets including the New York Post, The Times and The Sun in the United Kingdom, and publications in Australia.
News Corp serves audiences and customers primarily in the United States, the United Kingdom and Australia, with additional international operations.
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