News Co. (NASDAQ:NWS – Get Rating) was the recipient of a significant decline in short interest in June. As of June 30th, there was short interest totalling 1,340,000 shares, a decline of 20.7% from the June 15th total of 1,690,000 shares. Based on an average trading volume of 734,000 shares, the short-interest ratio is currently 1.8 days. Currently, 1.2% of the company’s shares are short sold.
News Price Performance
Shares of NASDAQ NWS opened at $16.55 on Wednesday. The business’s 50 day moving average price is $16.66 and its two-hundred day moving average price is $20.07. The company has a market cap of $9.69 billion, a PE ratio of 19.47 and a beta of 1.37. The company has a quick ratio of 1.09, a current ratio of 1.18 and a debt-to-equity ratio of 0.27. News has a twelve month low of $15.18 and a twelve month high of $25.69.
News (NASDAQ:NWS – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported $0.16 earnings per share for the quarter. News had a return on equity of 6.35% and a net margin of 4.89%. The firm had revenue of $2.49 billion for the quarter.
Analyst Ratings Changes
Separately, The Goldman Sachs Group lowered News from a “conviction-buy” rating to a “buy” rating in a report on Sunday, July 10th.
Institutional Investors Weigh In On News
A number of institutional investors have recently made changes to their positions in the company. Metropolis Capital Ltd boosted its stake in shares of News by 70.7% in the second quarter. Metropolis Capital Ltd now owns 3,743,924 shares of the company’s stock valued at $59,491,000 after buying an additional 1,551,250 shares during the period. D. E. Shaw & Co. Inc. lifted its stake in News by 219.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 491,942 shares of the company’s stock worth $11,069,000 after purchasing an additional 337,790 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in News during the fourth quarter worth $5,843,000. Brown Advisory Inc. bought a new stake in News during the fourth quarter worth $4,976,000. Finally, Geode Capital Management LLC lifted its stake in News by 7.5% during the fourth quarter. Geode Capital Management LLC now owns 2,506,202 shares of the company’s stock worth $56,312,000 after purchasing an additional 175,493 shares during the last quarter. Institutional investors own 24.61% of the company’s stock.
News Company Profile
News Corporation, a media and information services company, focuses on creating and distributing 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, MarketWatch, and Investor’s Business Daily 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.