Allspring Global Investments Holdings LLC Has $2.94 Million Position in News Co. (NASDAQ:NWSA)

Allspring Global Investments Holdings LLC lessened its stake in News Co. (NASDAQ:NWSA) by 6.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 112,137 shares of the company’s stock after selling 7,494 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in News were worth $2,936,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of News in the fourth quarter worth $139,956,000. Charles Schwab Investment Management Inc. raised its stake in shares of News by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,203,777 shares of the company’s stock worth $103,203,000 after purchasing an additional 62,805 shares in the last quarter. Contour Asset Management LLC lifted its holdings in shares of News by 97.8% during the 4th quarter. Contour Asset Management LLC now owns 3,442,650 shares of the company’s stock valued at $84,517,000 after buying an additional 1,702,483 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in shares of News by 249.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,206,990 shares of the company’s stock valued at $54,182,000 after buying an additional 1,575,803 shares in the last quarter. Finally, Junto Capital Management LP acquired a new position in News in the fourth quarter worth approximately $43,928,000. Hedge funds and other institutional investors own 66.97% of the company’s stock.

News Price Performance

NASDAQ NWSA opened at $27.63 on Wednesday. The company has a 50 day moving average price of $26.26 and a two-hundred day moving average price of $25.53. News Co. has a 12-month low of $18.98 and a 12-month high of $28.00. The stock has a market capitalization of $15.75 billion, a PE ratio of 76.75 and a beta of 1.33. The company has a quick ratio of 1.25, a current ratio of 1.36 and a debt-to-equity ratio of 0.32.

News (NASDAQ:NWSA) last posted its earnings results on Wednesday, May 8th. The company reported $0.11 EPS for the quarter, hitting the consensus estimate of $0.11. News had a net margin of 2.09% and a return on equity of 4.28%. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.45 billion. During the same period in the prior year, the business posted $0.09 earnings per share. The business’s quarterly revenue was down 1.0% on a year-over-year basis. As a group, equities analysts predict that News Co. will post 0.67 earnings per share 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 in six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.