Bank of Montreal Can Cuts Holdings in News Corporation $NWS

Bank of Montreal Can decreased its stake in News Corporation (NASDAQ:NWS) by 38.4% during the second quarter, Holdings Channel.com reports. The institutional investor owned 32,810 shares of the company’s stock after selling 20,470 shares during the quarter. Bank of Montreal Can’s holdings in News were worth $1,126,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. SVB Wealth LLC bought a new position in News in the first quarter valued at $27,000. NorthRock Partners LLC bought a new stake in News during the second quarter worth about $27,000. Resona Asset Management Co. Ltd. boosted its holdings in shares of News by 75.3% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 964 shares of the company’s stock worth $29,000 after purchasing an additional 414 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of News by 150.3% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,925 shares of the company’s stock valued at $58,000 after purchasing an additional 1,156 shares during the last quarter. Finally, Assetmark Inc. raised its holdings in shares of News by 572.8% during the 2nd quarter. Assetmark Inc. now owns 1,803 shares of the company’s stock valued at $62,000 after buying an additional 1,535 shares in the last quarter. 14.63% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on NWS. Zacks Research raised News from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Weiss Ratings restated a “buy (b)” rating on shares of News in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, News presently has an average rating of “Buy”.

News Price Performance

Shares of News stock opened at $29.56 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.76 and a quick ratio of 1.63. News Corporation has a one year low of $26.25 and a one year high of $35.58. The business’s 50 day simple moving average is $31.29 and its two-hundred day simple moving average is $32.56. The stock has a market capitalization of $16.60 billion, a P/E ratio of 14.28 and a beta of 1.15.

News (NASDAQ:NWS) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. News had a return on equity of 5.68% and a net margin of 13.80%.The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.11 billion. Analysts forecast that News Corporation will post 1.03 EPS for the current year.

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.