Scopus Asset Management L.P. bought a new position in shares of News Co. (NASDAQ:NWSA) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,500,000 shares of the company’s stock, valued at approximately $89,005,000. News comprises approximately 1.1% of Scopus Asset Management L.P.’s portfolio, making the stock its 13th biggest position. Scopus Asset Management L.P. owned approximately 0.59% of News at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Schonfeld Strategic Advisors LLC grew its holdings in shares of News by 140.2% in the 1st quarter. Schonfeld Strategic Advisors LLC now owns 625,887 shares of the company’s stock valued at $15,916,000 after buying an additional 365,320 shares during the period. Amundi Pioneer Asset Management Inc. grew its position in shares of News by 93.4% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 534,700 shares of the company’s stock valued at $9,609,000 after purchasing an additional 258,209 shares during the period. Trexquant Investment LP bought a new stake in News during the 1st quarter worth approximately $383,000. Natixis Advisors L.P. increased its stake in News by 3.9% during the 1st quarter. Natixis Advisors L.P. now owns 23,860 shares of the company’s stock worth $606,000 after purchasing an additional 888 shares in the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. acquired a new stake in News during the 1st quarter worth approximately $221,000. 63.52% of the stock is currently owned by institutional investors.
NASDAQ:NWSA traded down $0.25 on Thursday, hitting $24.36. 45,528 shares of the company’s stock were exchanged, compared to its average volume of 1,903,741. The business has a 50-day simple moving average of $25.90. News Co. has a 52 week low of $12.57 and a 52 week high of $27.97. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.17 and a current ratio of 1.24. The stock has a market capitalization of $14.39 billion, a P/E ratio of -273.41 and a beta of 1.56.
Several equities research analysts recently commented on the stock. Zacks Investment Research cut shares of News from a “buy” rating to a “hold” rating and set a $26.00 price objective on the stock. in a research report on Friday, July 9th. UBS Group downgraded News from a “buy” rating to a “neutral” rating in a report on Tuesday, June 1st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $27.75.
News Company Profile
News Corp. engages in the creation and distribution of media, news, education, and information services. It operates through the following segments: News and Information Services, Book Publishing, Digital Real Estate Services, Subscription Video Services, and Other. The News and Information Services segment consists of Dow Jones, News Corp Australia, News UK, the New York Post, and News America Marketing.
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