Honeycomb Asset Management LP cut its stake in News Co. (NASDAQ:NWSA – Free Report) by 34.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 198,000 shares of the company’s stock after selling 102,000 shares during the period. News accounts for about 1.2% of Honeycomb Asset Management LP’s investment portfolio, making the stock its 24th biggest position. Honeycomb Asset Management LP’s holdings in News were worth $4,861,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently modified their holdings of the stock. Power Corp of Canada grew its position in shares of News by 16.6% during the 4th quarter. Power Corp of Canada now owns 223,699 shares of the company’s stock worth $5,492,000 after buying an additional 31,831 shares during the period. Junto Capital Management LP acquired a new position in News during the fourth quarter valued at approximately $43,928,000. Balyasny Asset Management L.P. grew its holdings in News by 249.7% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,206,990 shares of the company’s stock valued at $54,182,000 after purchasing an additional 1,575,803 shares during the period. Neuberger Berman Group LLC grew its holdings in News by 10.4% during the fourth quarter. Neuberger Berman Group LLC now owns 41,856 shares of the company’s stock valued at $1,028,000 after purchasing an additional 3,948 shares during the period. Finally, Ossiam grew its holdings in News by 90.5% during the fourth quarter. Ossiam now owns 1,375,447 shares of the company’s stock valued at $33,767,000 after purchasing an additional 653,474 shares during the period. 66.97% of the stock is owned by institutional investors.
News Trading Up 0.5 %
NASDAQ NWSA traded up $0.14 during trading on Tuesday, reaching $27.35. 1,618,040 shares of the stock traded hands, compared to its average volume of 2,774,473. The firm has a market cap of $15.59 billion, a price-to-earnings ratio of 75.97 and a beta of 1.37. The stock’s 50-day moving average price is $25.46 and its 200 day moving average price is $24.96. 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 Co. has a fifty-two week low of $18.59 and a fifty-two week high of $28.00.
News (NASDAQ:NWSA – Get Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.11 EPS for the quarter, hitting analysts’ consensus estimates of $0.11. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.45 billion. News had a net margin of 2.09% and a return on equity of 4.28%. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.09 earnings per share. Analysts predict that News Co. will post 0.67 EPS for the current year.
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 in six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.