Gamco Investors INC. ET AL Sells 17,600 Shares of News Corporation $NWS

Gamco Investors INC. ET AL lessened its holdings in shares of News Corporation (NASDAQ:NWS) by 17.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 85,442 shares of the company’s stock after selling 17,600 shares during the quarter. Gamco Investors INC. ET AL’s holdings in News were worth $2,532,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. L1 Capital Pty Ltd purchased a new position in News during the 3rd quarter valued at approximately $117,040,000. Vanguard Group Inc. grew its holdings in News by 23.1% during the 3rd quarter. Vanguard Group Inc. now owns 8,819,105 shares of the company’s stock valued at $304,700,000 after buying an additional 1,657,727 shares in the last quarter. UBS Group AG grew its holdings in News by 100.5% during the 3rd quarter. UBS Group AG now owns 1,047,526 shares of the company’s stock valued at $36,192,000 after buying an additional 525,119 shares in the last quarter. Burkehill Global Management LP purchased a new position in News during the 3rd quarter valued at approximately $13,820,000. Finally, Jane Street Group LLC grew its holdings in News by 352.2% during the 2nd quarter. Jane Street Group LLC now owns 444,538 shares of the company’s stock valued at $15,252,000 after buying an additional 346,233 shares in the last quarter. Institutional investors own 14.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NWS shares. Zacks Research cut News from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Weiss Ratings cut News from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, April 6th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, News currently has an average rating of “Hold”.

News Stock Performance

NASDAQ NWS opened at $29.70 on Thursday. The company has a market cap of $16.26 billion, a P/E ratio of 14.78 and a beta of 0.89. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.59 and a current ratio of 1.70. The business’s 50 day moving average price is $28.97 and its 200-day moving average price is $28.96. News Corporation has a fifty-two week low of $25.49 and a fifty-two week high of $35.58.

News (NASDAQ:NWS) last released its earnings results on Thursday, May 7th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.07. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.12 billion. News had a return on equity of 6.12% and a net margin of 12.92%. Sell-side analysts predict that News Corporation will post 0.96 earnings per share for the current year.

News Company Profile

News Corporation (NASDAQ: NWS) is a global media and information services company engaged in news and digital real estate, book publishing and other media businesses. The company’s operations include print and digital newsbrands, business and financial information services, consumer platforms for property listings, and a major book publishing arm. Through its subsidiaries and brands, News Corp produces news content, market and financial reporting, online real-estate marketplaces and trade and consumer publishing products.

Key areas of activity include news and information, where the company publishes national and regional newspapers and operates business information services; book publishing through a well-known global publisher; and property-related digital businesses that operate online marketplaces for real estate listings.