Diametric Capital LP Lowers Stock Holdings in News Co. (NASDAQ:NWS)

Diametric Capital LP cut its holdings in shares of News Co. (NASDAQ:NWS) by 5.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,575 shares of the company’s stock after selling 1,512 shares during the quarter. Diametric Capital LP’s holdings in News were worth $778,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in NWS. Wilmington Savings Fund Society FSB lifted its holdings in shares of News by 123.7% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 935 shares of the company’s stock worth $28,000 after acquiring an additional 517 shares during the period. Smartleaf Asset Management LLC raised its stake in News by 136.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,217 shares of the company’s stock worth $37,000 after purchasing an additional 702 shares during the period. Harvest Fund Management Co. Ltd boosted its holdings in shares of News by 2,892.8% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 2,065 shares of the company’s stock valued at $61,000 after purchasing an additional 1,996 shares during the last quarter. Asset Management One Co. Ltd. grew its stake in shares of News by 22.9% during the 4th quarter. Asset Management One Co. Ltd. now owns 2,668 shares of the company’s stock valued at $82,000 after buying an additional 497 shares during the period. Finally, Point72 DIFC Ltd acquired a new stake in shares of News during the 3rd quarter worth $86,000. 14.63% of the stock is owned by institutional investors and hedge funds.

News Price Performance

NWS stock opened at $30.37 on Tuesday. The stock has a 50-day simple moving average of $32.01 and a 200-day simple moving average of $30.65. The firm has a market cap of $17.23 billion, a P/E ratio of 41.60 and a beta of 1.37. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.65 and a current ratio of 1.73. News Co. has a 1 year low of $23.99 and a 1 year high of $35.25.

News (NASDAQ:NWS) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). News had a net margin of 4.22% and a return on equity of 5.31%. On average, equities analysts predict that News Co. will post 1.03 earnings per share for the current fiscal year.

News Dividend Announcement

The company also recently disclosed a semi-annual dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 12th will be given a $0.10 dividend. The ex-dividend date is Wednesday, March 12th. This represents a yield of 0.6%. News’s payout ratio is currently 27.40%.

Wall Street Analyst Weigh In

Separately, Seaport Res Ptn raised shares of News to a “strong-buy” rating in a research report on Friday, January 31st.

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