State of Wisconsin Investment Board increased its stake in shares of News Corp (NASDAQ:NWS) by 5,586.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,330,833 shares of the company’s stock after purchasing an additional 1,307,429 shares during the period. State of Wisconsin Investment Board’s holdings in News were worth $16,622,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisor Group Inc. grew its stake in News by 219.5% during the 1st quarter. Advisor Group Inc. now owns 2,550 shares of the company’s stock valued at $32,000 after acquiring an additional 1,752 shares in the last quarter. Municipal Employees Retirement System of Michigan purchased a new stake in News during the 4th quarter valued at about $50,000. NumerixS Investment Technologies Inc grew its stake in News by 833.3% during the 1st quarter. NumerixS Investment Technologies Inc now owns 5,600 shares of the company’s stock valued at $70,000 after acquiring an additional 5,000 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in News during the 1st quarter valued at about $80,000. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new stake in News during the 1st quarter valued at about $80,000. Hedge funds and other institutional investors own 9.84% of the company’s stock.
Shares of NASDAQ:NWS traded up $0.03 during mid-day trading on Wednesday, reaching $12.16. 19,386 shares of the company were exchanged, compared to its average volume of 715,662. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.04 and a current ratio of 1.15. The stock has a market capitalization of $7.10 billion, a P/E ratio of 25.68 and a beta of 1.36. News Corp has a 1 year low of $10.85 and a 1 year high of $16.67.
NWS has been the subject of several analyst reports. BidaskClub cut shares of News from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 25th. TheStreet cut shares of News from a “c” rating to a “d+” rating in a research note on Tuesday, March 19th.
News Corporation, a media and information services company, creates and distributes content for consumers and businesses worldwide. It operates in five segments: News and Information Services, Book Publishing, Digital Real Estate Services, Subscription Video Services, 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 DJX through various media channels, such as newspapers, newswires, Websites, mobile device applications, tablets and e-book readers, newsletters, magazines, proprietary databases, live journalism, video, and podcasts.
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