GAMMA Investing LLC Purchases 634 Shares of News Co. (NASDAQ:NWS)

GAMMA Investing LLC raised its position in News Co. (NASDAQ:NWS) by 11.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,061 shares of the company’s stock after purchasing an additional 634 shares during the period. GAMMA Investing LLC’s holdings in News were worth $169,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in NWS. PNC Financial Services Group Inc. grew its position in News by 7.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 30,844 shares of the company’s stock worth $793,000 after buying an additional 2,237 shares in the last quarter. Mather Group LLC. bought a new position in shares of News in the first quarter worth approximately $148,000. Shilanski & Associates Inc. purchased a new stake in News in the first quarter valued at approximately $1,319,000. Baker Ellis Asset Management LLC lifted its position in News by 2.7% during the first quarter. Baker Ellis Asset Management LLC now owns 25,150 shares of the company’s stock valued at $681,000 after purchasing an additional 650 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in News by 64.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,833 shares of the company’s stock worth $266,000 after buying an additional 3,848 shares in the last quarter. 14.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Loop Capital raised shares of News to a “strong-buy” rating in a report on Tuesday, September 10th.

News Price Performance

NWS opened at $27.40 on Friday. The stock has a market capitalization of $15.61 billion, a P/E ratio of 76.11 and a beta of 1.36. The company has a current ratio of 1.43, a quick ratio of 1.33 and a debt-to-equity ratio of 0.32. News Co. has a 12-month low of $20.85 and a 12-month high of $29.59. The stock has a 50-day moving average price of $27.98 and a 200-day moving average price of $27.42.

News (NASDAQ:NWS) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.17 EPS for the quarter. The business had revenue of $2.58 billion for the quarter. News had a net margin of 2.64% and a return on equity of 4.51%.

News Announces Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Wednesday, October 9th. Investors of record on Wednesday, September 11th were given a $0.10 dividend. This represents a yield of 0.7%. The ex-dividend date was Wednesday, September 11th. News’s payout ratio is presently 55.56%.

About News

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.