Pinnacle Wealth Planning Services Inc. Buys Shares of 8,158 News Co. (NASDAQ:NWSA)

Pinnacle Wealth Planning Services Inc. bought a new stake in shares of News Co. (NASDAQ:NWSA) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,158 shares of the company’s stock, valued at approximately $214,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of News during the 4th quarter worth approximately $139,956,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of News by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,203,777 shares of the company’s stock worth $103,203,000 after purchasing an additional 62,805 shares in the last quarter. Contour Asset Management LLC lifted its holdings in shares of News by 97.8% in the 4th quarter. Contour Asset Management LLC now owns 3,442,650 shares of the company’s stock worth $84,517,000 after purchasing an additional 1,702,483 shares in the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of News by 249.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,206,990 shares of the company’s stock worth $54,182,000 after purchasing an additional 1,575,803 shares in the last quarter. Finally, Junto Capital Management LP bought a new position in shares of News in the 4th quarter worth $43,928,000. Institutional investors and hedge funds own 66.97% of the company’s stock.

News Stock Down 1.5 %

Shares of NWSA traded down $0.41 during trading hours on Friday, reaching $27.37. The stock had a trading volume of 3,194,861 shares, compared to its average volume of 2,767,114. News Co. has a 12 month low of $19.09 and a 12 month high of $28.62. The firm has a 50-day simple moving average of $27.14 and a 200 day simple moving average of $25.86. The company has a current ratio of 1.36, a quick ratio of 1.25 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $15.60 billion, a price-to-earnings ratio of 76.03 and a beta of 1.33.

News (NASDAQ:NWSA) last issued its earnings results on Wednesday, May 8th. The company reported $0.11 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.11. News had a return on equity of 4.28% and a net margin of 2.09%. The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.45 billion. During the same period last year, the business earned $0.09 EPS. News’s quarterly revenue was down 1.0% compared to the same quarter last year. Equities research analysts predict that News Co. will post 0.67 earnings per share for the current fiscal year.

News Company Profile

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.