US Asset Management LLC Cuts Position in News Co. (NASDAQ:NWS)

US Asset Management LLC decreased its holdings in News Co. (NASDAQ:NWS) by 2.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,293 shares of the company’s stock after selling 819 shares during the quarter. US Asset Management LLC’s holdings in News were worth $861,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Wilmington Savings Fund Society FSB raised its stake in shares of News by 123.7% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 935 shares of the company’s stock worth $28,000 after buying an additional 517 shares during the period. Smartleaf Asset Management LLC increased its holdings in News by 136.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,217 shares of the company’s stock worth $37,000 after acquiring an additional 702 shares in the last quarter. ExodusPoint Capital Management LP purchased a new stake in News in the 4th quarter worth $43,000. Mufg Securities Americas Inc. acquired a new position in News during the fourth quarter worth $50,000. Finally, Harvest Fund Management Co. Ltd lifted its holdings in News by 2,892.8% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 2,065 shares of the company’s stock valued at $61,000 after purchasing an additional 1,996 shares in the last quarter. Hedge funds and other institutional investors own 14.63% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Seaport Res Ptn raised shares of News to a “strong-buy” rating in a research note on Friday, January 31st.

News Price Performance

NASDAQ:NWS opened at $31.98 on Friday. The stock has a 50 day moving average of $30.87 and a two-hundred day moving average of $31.43. News Co. has a 12 month low of $26.04 and a 12 month high of $35.25. The firm has a market cap of $18.10 billion, a P/E ratio of 43.81 and a beta of 1.28. The company has a current ratio of 1.73, a quick ratio of 1.65 and a debt-to-equity ratio of 0.22.

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

News 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.