News Co. (NASDAQ:NWS) Shares Sold by abrdn plc

abrdn plc decreased its holdings in News Co. (NASDAQ:NWSGet Rating) by 2.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 27,197 shares of the company’s stock after selling 675 shares during the quarter. abrdn plc’s holdings in News were worth $431,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. AlphaCrest Capital Management LLC lifted its stake in shares of News by 35.6% in the first quarter. AlphaCrest Capital Management LLC now owns 113,550 shares of the company’s stock worth $2,557,000 after acquiring an additional 29,830 shares in the last quarter. Great Lakes Advisors LLC bought a new stake in News in the first quarter valued at about $703,000. Fifth Third Bancorp increased its holdings in News by 63.1% in the second quarter. Fifth Third Bancorp now owns 5,670 shares of the company’s stock valued at $90,000 after buying an additional 2,193 shares during the last quarter. Yacktman Asset Management LP increased its holdings in News by 2.6% in the second quarter. Yacktman Asset Management LP now owns 552,999 shares of the company’s stock valued at $8,787,000 after buying an additional 14,104 shares during the last quarter. Finally, Xponance Inc. increased its holdings in News by 571.6% in the second quarter. Xponance Inc. now owns 88,106 shares of the company’s stock valued at $1,400,000 after buying an additional 74,988 shares during the last quarter. Institutional investors and hedge funds own 11.43% of the company’s stock.

Insider Activity

In other news, General Counsel David B. Pitofsky sold 82,028 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $18.73, for a total transaction of $1,536,384.44. Following the completion of the transaction, the general counsel now directly owns 87,706 shares of the company’s stock, valued at $1,642,733.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 13.68% of the company’s stock.

News Stock Down 5.1 %

Shares of News stock opened at $16.46 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.16 and a debt-to-equity ratio of 0.30. The firm has a market cap of $9.57 billion, a P/E ratio of 15.53 and a beta of 1.32. News Co. has a fifty-two week low of $15.15 and a fifty-two week high of $24.16. The business has a 50-day moving average price of $16.63 and a 200 day moving average price of $17.14.

News (NASDAQ:NWSGet Rating) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.37 earnings per share for the quarter. The firm had revenue of $2.67 billion during the quarter. News had a return on equity of 7.69% and a net margin of 6.00%.

About News

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for News (NASDAQ:NWS)

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