News (NASDAQ:NWS) Rating Increased to Hold at BidaskClub

News (NASDAQ:NWS) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, BidAskClub reports.

NWS stock traded up $0.06 during midday trading on Wednesday, hitting $14.88. 13,703 shares of the company’s stock were exchanged, compared to its average volume of 422,952. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.10. News has a 12-month low of $10.85 and a 12-month high of $15.01. The firm has a 50 day moving average price of $13.99 and a 200-day moving average price of $13.07. The stock has a market capitalization of $8.69 billion, a price-to-earnings ratio of 32.35 and a beta of 1.45.

News (NASDAQ:NWS) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.07 earnings per share (EPS) for the quarter. News had a return on equity of 2.59% and a net margin of 1.54%. The company had revenue of $2.47 billion for the quarter. On average, sell-side analysts forecast that News will post 0.41 EPS for the current fiscal year.



In other news, CFO Kevin Halpin sold 18,749 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $14.22, for a total value of $266,610.78. Following the completion of the sale, the chief financial officer now directly owns 10,000 shares in the company, valued at approximately $142,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel David B. Pitofsky sold 30,919 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $13.83, for a total value of $427,609.77. Following the completion of the sale, the general counsel now owns 100,395 shares of the company’s stock, valued at $1,388,462.85. The disclosure for this sale can be found here. Insiders have sold a total of 59,668 shares of company stock worth $837,421 over the last 90 days. 39.40% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Independent Franchise Partners LLP boosted its position in News by 67.6% during the 2nd quarter. Independent Franchise Partners LLP now owns 9,200,643 shares of the company’s stock valued at $128,440,000 after purchasing an additional 3,710,115 shares during the period. BlackRock Inc. boosted its position in News by 7.9% during the 2nd quarter. BlackRock Inc. now owns 7,123,851 shares of the company’s stock valued at $99,450,000 after purchasing an additional 520,465 shares during the period. Dimensional Fund Advisors LP boosted its position in News by 39.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,032,455 shares of the company’s stock valued at $23,474,000 after purchasing an additional 574,125 shares during the period. Geode Capital Management LLC boosted its position in News by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 1,628,593 shares of the company’s stock valued at $18,787,000 after purchasing an additional 109,255 shares during the period. Finally, State of Wisconsin Investment Board boosted its position in News by 5,586.3% during the 1st quarter. State of Wisconsin Investment Board now owns 1,330,833 shares of the company’s stock valued at $16,622,000 after purchasing an additional 1,307,429 shares during the period. Institutional investors and hedge funds own 10.48% of the company’s stock.

About News

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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