Park Avenue Securities LLC Decreases Stock Position in News Co. (NASDAQ:NWSA)

Park Avenue Securities LLC reduced its position in News Co. (NASDAQ:NWSAGet Rating) by 22.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,232 shares of the company’s stock after selling 5,400 shares during the period. Park Avenue Securities LLC’s holdings in News were worth $275,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Community Bank N.A. purchased a new position in News in the 2nd quarter worth approximately $42,000. Ronald Blue Trust Inc. raised its stake in News by 289.4% during the 3rd quarter. Ronald Blue Trust Inc. now owns 2,870 shares of the company’s stock valued at $45,000 after buying an additional 2,133 shares during the last quarter. Quadrant Capital Group LLC raised its stake in News by 3,529.0% during the 2nd quarter. Quadrant Capital Group LLC now owns 3,375 shares of the company’s stock valued at $53,000 after buying an additional 3,282 shares during the last quarter. Wahed Invest LLC purchased a new stake in News during the 2nd quarter valued at $64,000. Finally, Dupont Capital Management Corp raised its stake in News by 43.7% during the 2nd quarter. Dupont Capital Management Corp now owns 4,844 shares of the company’s stock valued at $75,000 after buying an additional 1,472 shares during the last quarter. 63.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Loop Capital lowered shares of News from a “buy” rating to a “hold” rating and decreased their target price for the company from $30.00 to $17.00 in a research note on Monday, October 17th. Guggenheim decreased their target price on shares of News to $32.00 in a research note on Thursday, October 20th. Finally, StockNews.com downgraded shares of News from a “buy” rating to a “hold” rating in a research report on Thursday, November 10th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $23.37.

News Trading Up 1.5 %

Shares of NWSA stock opened at $19.55 on Tuesday. News Co. has a 1 year low of $14.87 and a 1 year high of $23.73. The firm has a fifty day moving average price of $18.47 and a 200-day moving average price of $17.34. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.25 and a quick ratio of 1.12. The company has a market cap of $11.25 billion, a price-to-earnings ratio of 24.44 and a beta of 1.27.

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

News Profile

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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.

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Institutional Ownership by Quarter for News (NASDAQ:NWSA)

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