News Co. (NASDAQ:NWSA) Shares Acquired by Truist Financial Corp

Truist Financial Corp raised its stake in shares of News Co. (NASDAQ:NWSAGet Rating) by 46.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,103 shares of the company’s stock after buying an additional 6,368 shares during the quarter. Truist Financial Corp’s holdings in News were worth $445,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of NWSA. Contour Asset Management LLC lifted its stake in shares of News by 31.8% during the 4th quarter. Contour Asset Management LLC now owns 12,156,933 shares of the company’s stock worth $271,221,000 after purchasing an additional 2,934,958 shares during the period. Incline Global Management LLC purchased a new position in shares of News during the 4th quarter worth $40,987,000. River Road Asset Management LLC lifted its stake in shares of News by 41.5% during the 4th quarter. River Road Asset Management LLC now owns 5,593,458 shares of the company’s stock worth $124,790,000 after purchasing an additional 1,640,524 shares during the period. D. E. Shaw & Co. Inc. lifted its stake in shares of News by 66.3% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 3,074,544 shares of the company’s stock worth $68,593,000 after purchasing an additional 1,225,694 shares during the period. Finally, 59 North Capital Management LP lifted its stake in shares of News by 133.1% during the 4th quarter. 59 North Capital Management LP now owns 2,045,779 shares of the company’s stock worth $45,641,000 after purchasing an additional 1,168,048 shares during the period. Institutional investors and hedge funds own 63.98% of the company’s stock.

News Trading Up 2.1 %

NASDAQ:NWSA opened at $17.05 on Thursday. The business’s 50-day moving average is $16.30 and its two-hundred day moving average is $19.62. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.18 and a quick ratio of 1.09. News Co. has a 12 month low of $14.95 and a 12 month high of $26.42. The firm has a market capitalization of $9.99 billion, a PE ratio of 20.06 and a beta of 1.31.

News (NASDAQ:NWSAGet Rating) last released its quarterly earnings data on Thursday, May 5th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.03). News had a net margin of 4.89% and a return on equity of 6.35%. The company had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period last year, the business earned $0.09 earnings per share. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. Research analysts predict that News Co. will post 0.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NWSA. Guggenheim cut their target price on News from $33.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, July 21st. TheStreet lowered News from a “b” rating to a “c” rating in a research report on Thursday, May 5th. Finally, StockNews.com lowered News from a “buy” rating to a “hold” rating in a research report on Friday, July 22nd.

News Profile

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News Corporation, a media and information services company, focuses on creating and distributing content 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. The company distributes content and data products, including The Wall Street Journal, Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires, Barron's, MarketWatch, and Investor's Business Daily through various media channels, such as newspapers, newswires, websites, applications for mobile devices, tablets and e-book readers, newsletters, magazines, proprietary databases, live journalism, videos, and podcasts.

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Institutional Ownership by Quarter for News (NASDAQ:NWSA)

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