Park Avenue Securities LLC Lowers Position in News Co. (NASDAQ:NWSA)

Park Avenue Securities LLC lessened its holdings in News Co. (NASDAQ:NWSAGet Rating) by 22.9% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,232 shares of the company’s stock after selling 5,400 shares during the period. Park Avenue Securities LLC’s holdings in News were worth $275,000 as of its most recent SEC filing.

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

News Stock Up 1.5 %

Shares of NASDAQ:NWSA opened at $19.55 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 1.12 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $11.25 billion, a P/E ratio of 24.44 and a beta of 1.27. News Co. has a 12-month low of $14.87 and a 12-month high of $23.73. The stock’s 50-day moving average price is $18.47 and its 200-day moving average price is $17.34.

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). The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.49 billion. News had a return on equity of 7.02% and a net margin of 4.51%. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.23 earnings per share.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Loop Capital downgraded News from a “buy” rating to a “hold” rating and lowered their price target for the company from $30.00 to $17.00 in a research report on Monday, October 17th. Guggenheim reduced their price objective on News to $32.00 in a research note on Thursday, October 20th. Finally, StockNews.com cut News from a “buy” rating to a “hold” rating in a research note on Thursday, November 10th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $23.37.

News 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.

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Institutional Ownership by Quarter for News (NASDAQ:NWSA)

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