GAMMA Investing LLC Has $11.48 Million Stake in News Co. (NASDAQ:NWS)

GAMMA Investing LLC increased its position in News Co. (NASDAQ:NWS) by 4,373.6% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 348,496 shares of the company’s stock after purchasing an additional 340,706 shares during the period. GAMMA Investing LLC owned about 0.06% of News worth $11,475,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NWS. Wilmington Savings Fund Society FSB boosted its stake in News by 123.7% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 935 shares of the company’s stock worth $28,000 after purchasing an additional 517 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of News by 136.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,217 shares of the company’s stock valued at $37,000 after buying an additional 702 shares during the period. ExodusPoint Capital Management LP acquired a new stake in shares of News during the 4th quarter valued at $43,000. Mufg Securities Americas Inc. acquired a new stake in shares of News during the 4th quarter valued at $50,000. Finally, Harvest Fund Management Co. Ltd boosted its stake in shares of News by 2,892.8% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 2,065 shares of the company’s stock valued at $61,000 after buying an additional 1,996 shares during the period. Institutional investors and hedge funds own 14.63% of the company’s stock.

News Trading Down 1.1%

Shares of NASDAQ:NWS opened at $31.85 on Friday. The firm has a fifty day moving average of $31.28 and a two-hundred day moving average of $31.50. The firm has a market capitalization of $18.03 billion, a P/E ratio of 43.63 and a beta of 1.23. News Co. has a 12-month low of $26.04 and a 12-month high of $35.25. The company has a quick ratio of 1.65, a current ratio of 1.73 and a debt-to-equity ratio of 0.22.

News (NASDAQ:NWS) last issued its earnings results on Thursday, May 8th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.05). The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $2 billion. News had a net margin of 4.22% and a return on equity of 5.31%. On average, equities analysts expect that News Co. will post 1.03 EPS for the current fiscal year.

News Profile

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 through six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.