News Co. (NASDAQ:NWSA) Shares Purchased by Comerica Bank

Comerica Bank increased its stake in shares of News Co. (NASDAQ:NWSA – Get Rating) by 0.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 98,193 shares of the company’s stock after buying an additional 873 shares during the quarter. Comerica Bank’s holdings in News were worth $1,662,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NWSA. Price T Rowe Associates Inc. MD grew its stake in News by 23.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 68,042,667 shares of the company’s stock worth $1,060,105,000 after acquiring an additional 12,921,681 shares during the period. Assenagon Asset Management S.A. grew its stake in News by 6,064.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,832,630 shares of the company’s stock worth $44,132,000 after acquiring an additional 2,786,680 shares during the period. Goldman Sachs Group Inc. grew its stake 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 period. Thompson Siegel & Walmsley LLC grew its stake in News by 90,759.5% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,500,091 shares of the company’s stock worth $23,372,000 after acquiring an additional 1,498,440 shares during the period. Finally, Vanguard Group Inc. grew its stake 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 period. 63.84% of the stock is owned by hedge funds and other institutional investors.

News Stock Performance

NASDAQ:NWSA opened at $19.26 on Friday. 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 firm has a market capitalization of $11.09 billion, a price-to-earnings ratio of 24.08 and a beta of 1.27. The firm’s fifty day simple moving average is $18.44 and its 200 day simple moving average is $17.31. News Co. has a twelve month low of $14.87 and a twelve month high of $23.73.

News (NASDAQ:NWSA – Get Rating) last posted its earnings results on Tuesday, November 8th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.08). The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.49 billion. News had a net margin of 4.51% and a return on equity of 7.02%. The business’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.23 EPS.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. StockNews.com cut shares of News from a “buy” rating to a “hold” rating in a research note on Thursday, November 10th. Guggenheim lowered their price objective on shares of News to $32.00 in a research note on Thursday, October 20th. Finally, Loop Capital cut shares of News from a “buy” rating to a “hold” rating and lowered their price objective for the company from $30.00 to $17.00 in a research note on Monday, October 17th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, News has an average rating of “Hold” and an average price target of $23.37.

About News

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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 in six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.