News Co. (NASDAQ:NWSA) Shares Sold by abrdn plc

abrdn plc trimmed its holdings in News Co. (NASDAQ:NWSAGet Rating) by 8.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 142,670 shares of the company’s stock after selling 12,594 shares during the quarter. abrdn plc’s holdings in News were worth $3,211,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Yacktman Asset Management LP boosted its holdings in News by 1.0% in the fourth quarter. Yacktman Asset Management LP now owns 16,195,304 shares of the company’s stock valued at $361,317,000 after purchasing an additional 163,380 shares during the last quarter. Burgundy Asset Management Ltd. boosted its holdings in News by 7.3% in the fourth quarter. Burgundy Asset Management Ltd. now owns 12,808,257 shares of the company’s stock valued at $285,752,000 after purchasing an additional 874,243 shares during the last quarter. Contour Asset Management LLC boosted its holdings in News by 31.8% in the fourth quarter. Contour Asset Management LLC now owns 12,156,933 shares of the company’s stock valued at $271,221,000 after purchasing an additional 2,934,958 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in News by 8.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,654,833 shares of the company’s stock valued at $126,163,000 after purchasing an additional 421,385 shares during the last quarter. Finally, River Road Asset Management LLC boosted its holdings in News by 41.5% in the fourth quarter. River Road Asset Management LLC now owns 5,593,458 shares of the company’s stock valued at $124,790,000 after purchasing an additional 1,640,524 shares during the last quarter. 63.98% of the stock is owned by hedge funds and other institutional investors.

News Stock Up 0.2 %

NWSA opened at $17.14 on Monday. News Co. has a twelve month low of $14.95 and a twelve month high of $26.42. The company has a quick ratio of 1.09, a current ratio of 1.18 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average price of $16.28 and a 200 day moving average price of $19.50. The company has a market cap of $10.04 billion, a PE ratio of 20.16 and a beta of 1.31.

News (NASDAQ:NWSAGet Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.03). News had a return on equity of 6.35% and a net margin of 4.89%. The company had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter last year, the company earned $0.09 EPS. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. Sell-side analysts expect that News Co. will post 0.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NWSA. StockNews.com lowered shares of News from a “buy” rating to a “hold” rating in a research note on Friday, July 22nd. Guggenheim lowered their target price on shares of News from $33.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, July 21st. TheStreet lowered shares of News from a “b” rating to a “c” rating in a research note on Thursday, May 5th. Finally, Macquarie lowered shares of News from an “outperform” rating to a “neutral” rating and set a $21.10 target price on the stock. in a research note on Thursday.

News Company Profile

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News Corporation, a media and information services company, focuses on creating and distributing content for consumers and businesses worldwide. It operates in six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other. The company distributes content and data products, including The Wall Street Journal, Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires, Barron's, MarketWatch, and Investor's Business Daily through various media channels, such as newspapers, newswires, websites, applications for mobile devices, tablets and e-book readers, newsletters, magazines, proprietary databases, live journalism, videos, and podcasts.

Further Reading

Want to see what other hedge funds are holding NWSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for News Co. (NASDAQ:NWSAGet Rating).

Institutional Ownership by Quarter for News (NASDAQ:NWSA)

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