Handelsbanken Fonder AB Has $2.23 Million Stock Holdings in News Co. (NASDAQ:NWSA)

Handelsbanken Fonder AB trimmed its stake in shares of News Co. (NASDAQ:NWSA) by 15.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,800 shares of the company’s stock after selling 16,300 shares during the quarter. Handelsbanken Fonder AB’s holdings in News were worth $2,233,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. grew its position in shares of News by 13.3% in the fourth quarter. Bessemer Group Inc. now owns 4,563 shares of the company’s stock valued at $82,000 after purchasing an additional 537 shares during the last quarter. Neo Ivy Capital Management boosted its stake in News by 7.7% in the 4th quarter. Neo Ivy Capital Management now owns 11,425 shares of the company’s stock valued at $205,000 after purchasing an additional 819 shares during the period. City Holding Co. acquired a new position in News in the 1st quarter valued at $28,000. DekaBank Deutsche Girozentrale increased its position in News by 5.2% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 22,705 shares of the company’s stock worth $405,000 after buying an additional 1,127 shares during the period. Finally, ProShare Advisors LLC boosted its position in shares of News by 1.2% in the fourth quarter. ProShare Advisors LLC now owns 96,610 shares of the company’s stock valued at $1,736,000 after acquiring an additional 1,184 shares during the period. Hedge funds and other institutional investors own 61.15% of the company’s stock.

NASDAQ NWSA opened at $27.64 on Wednesday. The firm’s 50 day simple moving average is $26.40 and its 200 day simple moving average is $21.20. The firm has a market capitalization of $16.33 billion, a price-to-earnings ratio of -16.16 and a beta of 1.61. The company has a current ratio of 1.25, a quick ratio of 1.18 and a debt-to-equity ratio of 0.14. News Co. has a 1 year low of $10.06 and a 1 year high of $27.97.

News (NASDAQ:NWSA) last released its earnings results on Thursday, May 6th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.08. News had a positive return on equity of 1.70% and a negative net margin of 11.47%. The firm had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the prior year, the company earned $0.03 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. On average, equities research analysts forecast that News Co. will post 0.23 earnings per share for the current year.

Several analysts have weighed in on the stock. JPMorgan Chase & Co. upgraded shares of News from a “neutral” rating to an “overweight” rating and set a $23.00 price objective for the company in a research note on Wednesday, January 27th. They noted that the move was a valuation call. Morgan Stanley upgraded News from an “underweight” rating to an “overweight” rating and boosted their price target for the company from $15.00 to $30.00 in a research note on Friday, February 12th. Finally, Guggenheim upgraded News from a “neutral” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Wednesday, March 24th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. News has an average rating of “Buy” and an average price target of $24.00.

About News

News Corporation, a media and information services company, creates and distributes content 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. The company distributes content and data products, including The Wall Street Journal, Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires, Barron's, and MarketWatch through various media channels, such as newspapers, newswires, websites, applications for mobile devices, tablets and e-book readers, newsletters, magazines, proprietary databases, live journalism, videos, and podcasts.

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Institutional Ownership by Quarter for News (NASDAQ:NWSA)

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