Bank of New York Mellon Corp Has $25.04 Million Position in News Corporation (NASDAQ:NWS)

Bank of New York Mellon Corp lowered its stake in shares of News Corporation (NASDAQ:NWS) by 2.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 824,641 shares of the company’s stock after selling 20,605 shares during the quarter. Bank of New York Mellon Corp owned about 0.15% of News worth $25,044,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. 59 North Capital Management LP lifted its position in News by 29.4% in the fourth quarter. 59 North Capital Management LP now owns 4,345,606 shares of the company’s stock worth $132,237,000 after purchasing an additional 986,781 shares during the period. Independent Franchise Partners LLP raised its stake in News by 7.0% during the fourth quarter. Independent Franchise Partners LLP now owns 9,649,717 shares of the company’s stock worth $293,641,000 after acquiring an additional 627,774 shares in the last quarter. Norges Bank acquired a new position in News during the fourth quarter worth $14,338,000. GAMMA Investing LLC raised its stake in News by 4,373.6% during the first quarter. GAMMA Investing LLC now owns 348,496 shares of the company’s stock worth $11,475,000 after acquiring an additional 340,706 shares in the last quarter. Finally, Cooper Investors PTY Ltd. acquired a new position in News during the first quarter worth $7,155,000. Institutional investors own 14.63% of the company’s stock.

News Stock Performance

Shares of NASDAQ:NWS opened at $34.44 on Thursday. News Corporation has a twelve month low of $26.04 and a twelve month high of $35.41. The firm has a market cap of $19.50 billion, a PE ratio of 40.05 and a beta of 1.23. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.60 and a current ratio of 1.68. The business has a fifty day moving average of $33.01 and a 200-day moving average of $31.83.

News (NASDAQ:NWS) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.05). The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2 billion. News had a net margin of 5.18% and a return on equity of 5.64%. On average, equities research analysts predict that News Corporation will post 1.03 EPS for the current fiscal year.

News Company 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.