abrdn plc decreased its holdings in shares of News Co. (NASDAQ:NWS – Get Rating) by 35.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 27,872 shares of the company’s stock after selling 15,324 shares during the period. abrdn plc’s holdings in News were worth $637,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Wahed Invest LLC purchased a new stake in News during the 4th quarter worth $32,000. Fifth Third Bancorp increased its stake in News by 63.1% during the 4th quarter. Fifth Third Bancorp now owns 1,954 shares of the company’s stock worth $44,000 after buying an additional 756 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in News by 40.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,173 shares of the company’s stock worth $49,000 after buying an additional 624 shares during the period. Bayesian Capital Management LP purchased a new stake in News during the 4th quarter worth $232,000. Finally, Xponance Inc. bought a new stake in shares of News in the 4th quarter worth about $238,000. Institutional investors and hedge funds own 24.61% of the company’s stock.
News Price Performance
NWS opened at $17.20 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.09 and a current ratio of 1.18. News Co. has a 1-year low of $15.18 and a 1-year high of $25.69. The company has a 50-day moving average of $16.55 and a 200-day moving average of $19.68. The company has a market capitalization of $10.07 billion, a P/E ratio of 20.24 and a beta of 1.35.
Wall Street Analysts Forecast Growth
Separately, The Goldman Sachs Group downgraded shares of News from a “conviction-buy” rating to a “buy” rating in a research report on Sunday, July 10th.
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.
- Get a free copy of the StockNews.com research report on News (NWS)
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