Portfolio Design Labs LLC Has $434,000 Stake in News Co. (NASDAQ:NWS)

Portfolio Design Labs LLC reduced its position in shares of News Co. (NASDAQ:NWS) by 3.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 15,526 shares of the company’s stock after selling 492 shares during the quarter. Portfolio Design Labs LLC’s holdings in News were worth $434,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Covestor Ltd raised its stake in News by 69.9% in the first quarter. Covestor Ltd now owns 1,201 shares of the company’s stock valued at $33,000 after buying an additional 494 shares during the period. Blue Trust Inc. raised its stake in News by 253.3% in the third quarter. Blue Trust Inc. now owns 2,021 shares of the company’s stock valued at $57,000 after buying an additional 1,449 shares during the period. iA Global Asset Management Inc. bought a new stake in News in the first quarter valued at approximately $76,000. ORG Wealth Partners LLC bought a new stake in News in the third quarter valued at approximately $80,000. Finally, ORG Partners LLC bought a new position in shares of News during the second quarter worth approximately $81,000. 14.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Loop Capital upgraded News to a “strong-buy” rating in a research note on Tuesday, September 10th.

News Price Performance

Shares of NASDAQ NWS opened at $31.69 on Thursday. The firm has a market cap of $18.02 billion, a P/E ratio of 51.11 and a beta of 1.36. The company has a current ratio of 1.38, a quick ratio of 1.26 and a debt-to-equity ratio of 0.30. News Co. has a 1-year low of $21.99 and a 1-year high of $32.75. The business’s 50 day moving average is $28.75 and its 200-day moving average is $28.22.

News 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 through six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.