Lido Advisors LLC Buys Shares of 6,690 News Co. (NASDAQ:NWS)

Lido Advisors LLC purchased a new position in shares of News Co. (NASDAQ:NWS) in the 4th quarter, Holdings Channel.com reports. The firm purchased 6,690 shares of the company’s stock, valued at approximately $204,000.

Several other hedge funds have also recently added to or reduced their stakes in NWS. Independent Franchise Partners LLP increased its holdings in shares of News by 7.0% during the 4th quarter. Independent Franchise Partners LLP now owns 9,649,717 shares of the company’s stock worth $293,641,000 after buying an additional 627,774 shares during the last quarter. Vanguard Group Inc. lifted 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 purchasing an additional 138,680 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of News by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 2,855,707 shares of the company’s stock worth $86,799,000 after purchasing an additional 13,329 shares during the period. Dimensional Fund Advisors LP increased its position in shares of News by 8.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,965,125 shares of the company’s stock worth $59,799,000 after purchasing an additional 160,922 shares during the last quarter. Finally, Northern Trust Corp lifted its position in News by 1.2% in the fourth quarter. Northern Trust Corp now owns 939,188 shares of the company’s stock valued at $28,579,000 after buying an additional 10,716 shares during the last quarter. 14.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

News Stock Performance

NASDAQ:NWS opened at $32.04 on Wednesday. News Co. has a 52 week low of $23.99 and a 52 week high of $35.25. The company has a fifty day simple moving average of $30.56 and a two-hundred day simple moving average of $31.10. 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 company has a market cap of $18.18 billion, a price-to-earnings ratio of 43.89 and a beta of 1.28.

News (NASDAQ:NWS) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). News had a return on equity of 5.31% and a net margin of 4.22%. As a group, equities analysts anticipate that News Co. will post 1.03 earnings per share for the current fiscal year.

News Company 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.