Mackenzie Financial Corp Decreases Holdings in News Co. (NASDAQ:NWSA)

Mackenzie Financial Corp lowered its position in News Co. (NASDAQ:NWSAGet Rating) by 92.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 41,134 shares of the company’s stock after selling 480,401 shares during the period. Mackenzie Financial Corp’s holdings in News were worth $641,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in News by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 54,110,547 shares of the company’s stock worth $1,198,548,000 after acquiring an additional 1,088,340 shares during the last quarter. BlackRock Inc. increased its holdings in News by 0.8% in the 1st quarter. BlackRock Inc. now owns 25,216,349 shares of the company’s stock worth $558,541,000 after acquiring an additional 210,486 shares during the last quarter. Yacktman Asset Management LP increased its holdings in News by 1.4% in the 2nd quarter. Yacktman Asset Management LP now owns 16,452,794 shares of the company’s stock worth $256,335,000 after acquiring an additional 223,976 shares during the last quarter. Metropolis Capital Ltd increased its holdings in News by 71.2% in the 2nd quarter. Metropolis Capital Ltd now owns 7,423,430 shares of the company’s stock worth $115,657,000 after acquiring an additional 3,087,650 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in News by 35.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,262,494 shares of the company’s stock worth $160,865,000 after acquiring an additional 1,908,096 shares during the last quarter. Hedge funds and other institutional investors own 64.40% of the company’s stock.

News Stock Performance

Shares of NWSA opened at $18.23 on Friday. The company has a market cap of $10.49 billion, a PE ratio of 22.79 and a beta of 1.28. The company has a current ratio of 1.25, a quick ratio of 1.12 and a debt-to-equity ratio of 0.34. The stock has a 50-day moving average price of $16.56 and a 200-day moving average price of $16.75. News Co. has a 12-month low of $14.87 and a 12-month high of $23.73.

News (NASDAQ:NWSAGet Rating) last released its earnings results on Tuesday, November 8th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.08). The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.49 billion. News had a return on equity of 7.02% and a net margin of 4.51%. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.23 EPS. As a group, equities analysts forecast that News Co. will post 0.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NWSA. StockNews.com lowered News from a “buy” rating to a “hold” rating in a report on Thursday, November 10th. Guggenheim reduced their target price on News to $32.00 in a report on Thursday, October 20th. Loop Capital lowered News from a “buy” rating to a “hold” rating and reduced their target price for the company from $30.00 to $17.00 in a report on Monday, October 17th. Finally, Macquarie lowered News from an “outperform” rating to a “neutral” rating and set a $21.10 target price for the company. in a report on Thursday, July 28th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $23.37.

About News

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News Corp. is a media and information services company, which engages in the creation and distribution of content and other services. It operates through the following segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other. The Digital Real Estate Services segment refers to the firm’s interest in the REA Group, a company with operations focused on property and property-related advertising and services, as well as financial services.

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Institutional Ownership by Quarter for News (NASDAQ:NWSA)

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