News Co. (NASDAQ:NWSA) Shares Acquired by Texas Permanent School Fund

Texas Permanent School Fund lifted its holdings in shares of News Co. (NASDAQ:NWSA – Get Rating) by 1.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,283 shares of the company’s stock after buying an additional 973 shares during the period. Texas Permanent School Fund’s holdings in News were worth $790,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Spire Wealth Management boosted its position in shares of News by 9.5% during the second quarter. Spire Wealth Management now owns 9,322 shares of the company’s stock worth $145,000 after buying an additional 812 shares during the period. Pinebridge Investments L.P. raised its holdings in News by 77.6% during the second quarter. Pinebridge Investments L.P. now owns 361,145 shares of the company’s stock worth $5,627,000 after purchasing an additional 157,852 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in News by 4.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 43,577 shares of the company’s stock worth $679,000 after purchasing an additional 1,793 shares in the last quarter. Inspire Investing LLC raised its holdings in News by 25.2% during the second quarter. Inspire Investing LLC now owns 19,953 shares of the company’s stock worth $311,000 after purchasing an additional 4,010 shares in the last quarter. Finally, New York State Teachers Retirement System raised its holdings in News by 2.0% during the second quarter. New York State Teachers Retirement System now owns 615,504 shares of the company’s stock worth $9,590,000 after purchasing an additional 12,240 shares in the last quarter. 63.84% of the stock is currently owned by institutional investors and hedge funds.

News Price Performance

NASDAQ NWSA opened at $19.46 on Friday. The stock has a market capitalization of $11.20 billion, a P/E ratio of 24.33 and a beta of 1.27. News Co. has a 1 year low of $14.87 and a 1 year high of $23.73. The business’s fifty day moving average is $18.24 and its two-hundred day moving average is $17.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.12 and a current ratio of 1.25.

News (NASDAQ:NWSA – Get Rating) last announced 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 firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period last year, the firm earned $0.23 earnings per share. News’s revenue for the quarter was down 1.0% compared to the same quarter last year.

Analysts Set New Price Targets

Several brokerages recently commented on NWSA. Loop Capital cut News from a “buy” rating to a “hold” rating and dropped their target price for the stock from $30.00 to $17.00 in a report on Monday, October 17th. Guggenheim dropped their target price on News to $32.00 in a report on Thursday, October 20th. Finally, StockNews.com cut News from a “buy” rating to a “hold” rating in a report on Thursday, November 10th. Three 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 company currently has a consensus rating of “Hold” and an average price target of $23.37.

News Company Profile

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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.