Redwood Investment Management LLC Has $464,000 Position in News Co. (NASDAQ:NWS)

Redwood Investment Management LLC lessened its stake in shares of News Co. (NASDAQ:NWS) by 9.5% during the fourth quarter, Holdings Channel reports. The fund owned 15,262 shares of the company’s stock after selling 1,599 shares during the quarter. Redwood Investment Management LLC’s holdings in News were worth $464,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Point72 Hong Kong Ltd acquired a new position in shares of News during the 4th quarter valued at $96,000. Quantinno Capital Management LP lifted its position in shares of News by 43.9% during the 4th quarter. Quantinno Capital Management LP now owns 41,176 shares of the company’s stock valued at $1,253,000 after acquiring an additional 12,568 shares during the period. Mufg Securities Americas Inc. acquired a new position in shares of News during the 4th quarter valued at $50,000. Jefferies Financial Group Inc. lifted its position in shares of News by 120.9% during the 4th quarter. Jefferies Financial Group Inc. now owns 222,827 shares of the company’s stock valued at $6,781,000 after acquiring an additional 121,970 shares during the period. Finally, Ethic Inc. lifted its position in shares of News by 3.4% during the 4th quarter. Ethic Inc. now owns 52,950 shares of the company’s stock valued at $1,611,000 after acquiring an additional 1,743 shares during the period. Institutional investors and hedge funds own 14.63% of the company’s stock.

News Stock Performance

NWS opened at $32.93 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.65 and a debt-to-equity ratio of 0.22. The company’s fifty day moving average price is $30.73 and its two-hundred day moving average price is $31.34. News Co. has a 1-year low of $26.04 and a 1-year high of $35.25. The company has a market cap of $18.68 billion, a price-to-earnings ratio of 45.11 and a beta of 1.28.

News (NASDAQ:NWS) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.05). News had a return on equity of 5.31% and a net margin of 4.22%. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $2 billion. On average, analysts expect that News Co. will post 1.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Seaport Res Ptn upgraded shares of News to a “strong-buy” rating in a 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.