Texas Permanent School Fund Buys 610 Shares of News Co. (NASDAQ:NWSA)

Texas Permanent School Fund increased its stake in News Co. (NASDAQ:NWSAGet Rating) by 1.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,310 shares of the company’s stock after buying an additional 610 shares during the quarter. Texas Permanent School Fund’s holdings in News were worth $799,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Community Bank N.A. bought a new stake in shares of News during the second quarter worth $42,000. Rosenberg Matthew Hamilton bought a new stake in shares of News during the second quarter worth $54,000. Brown Brothers Harriman & Co. bought a new stake in shares of News during the first quarter worth $98,000. Dupont Capital Management Corp lifted its position in shares of News by 43.7% during the second quarter. Dupont Capital Management Corp now owns 4,844 shares of the company’s stock worth $75,000 after purchasing an additional 1,472 shares during the last quarter. Finally, AIA Group Ltd lifted its position in shares of News by 57.4% during the first quarter. AIA Group Ltd now owns 5,006 shares of the company’s stock worth $111,000 after purchasing an additional 1,826 shares during the last quarter. 64.40% of the stock is currently owned by institutional investors.

News Price Performance

NWSA opened at $17.83 on Monday. The business’s 50-day moving average is $16.49 and its two-hundred day moving average is $16.74. News Co. has a 1 year low of $14.87 and a 1 year high of $23.73. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.25 and a quick ratio of 1.12. The firm has a market capitalization of $10.26 billion, a PE ratio of 22.29 and a beta of 1.28.

News (NASDAQ:NWSAGet Rating) last posted its earnings results on Tuesday, November 8th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.08). News had a net margin of 4.51% and a return on equity of 7.02%. The company had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter last year, the firm earned $0.23 EPS. News’s revenue for the quarter was down 1.0% on a year-over-year basis. Research analysts anticipate that News Co. will post 0.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. StockNews.com downgraded News from a “buy” rating to a “hold” rating in a report on Thursday, November 10th. Guggenheim decreased their price objective on News to $32.00 in a report on Thursday, October 20th. Loop Capital downgraded News from a “buy” rating to a “hold” rating and decreased their price objective for the company from $30.00 to $17.00 in a report on Monday, October 17th. Finally, Macquarie downgraded News from an “outperform” rating to a “neutral” rating and set a $21.10 price objective for the company. in a report on Thursday, July 28th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $23.37.

About News

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News Corp. is a media and information services company, which engages in the creation and distribution of content and other services. It operates through the following segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other. The Digital Real Estate Services segment refers to the firm’s interest in the REA Group, a company with operations focused on property and property-related advertising and services, as well as financial services.

Further Reading

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Institutional Ownership by Quarter for News (NASDAQ:NWSA)

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