CX Institutional Makes New Investment in News Co. (NASDAQ:NWS)

CX Institutional bought a new position in shares of News Co. (NASDAQ:NWS) in the 1st quarter, Holdings Channel reports. The institutional investor bought 4,861 shares of the company’s stock, valued at approximately $148,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC increased its holdings in shares of News by 136.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,217 shares of the company’s stock worth $37,000 after buying an additional 702 shares in the last quarter. ExodusPoint Capital Management LP acquired a new stake in News during the 4th quarter worth about $43,000. Mufg Securities Americas Inc. acquired a new stake in News during the 4th quarter worth about $50,000. Harvest Fund Management Co. Ltd grew its holdings in News by 2,892.8% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 2,065 shares of the company’s stock worth $61,000 after acquiring an additional 1,996 shares during the period. Finally, Asset Management One Co. Ltd. boosted its position in shares of News by 22.9% during the 4th quarter. Asset Management One Co. Ltd. now owns 2,668 shares of the company’s stock worth $82,000 after purchasing an additional 497 shares in the last quarter. 14.63% of the stock is currently owned by institutional investors.

News Price Performance

NWS stock opened at $31.35 on Monday. The stock has a market capitalization of $17.75 billion, a PE ratio of 42.95 and a beta of 1.23. The company’s 50-day moving average is $31.60 and its 200-day moving average is $31.49. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.73 and a quick ratio of 1.65. News Co. has a 1 year low of $26.04 and a 1 year high of $35.25.

News (NASDAQ:NWS) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.05). News had a net margin of 4.22% and a return on equity of 5.31%. The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2 billion. Equities research analysts expect that News Co. will post 1.03 EPS 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.