News (NASDAQ:NWS) Shares Gap Up – Still a Buy?

News Co. (NASDAQ:NWS)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $33.24, but opened at $34.97. News shares last traded at $32.63, with a volume of 65,892 shares changing hands.

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 Trading Down 1.2 %

The stock has a 50 day simple moving average of $31.26 and a 200-day simple moving average of $29.62. The company has a current ratio of 1.38, a quick ratio of 1.26 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $18.68 billion, a P/E ratio of 53.11 and a beta of 1.38.

News (NASDAQ:NWS) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.01). News had a return on equity of 4.76% and a net margin of 3.49%.

Hedge Funds Weigh In On News

Several large investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its stake in News by 10.4% in the 2nd quarter. AQR Capital Management LLC now owns 11,113 shares of the company’s stock worth $316,000 after buying an additional 1,051 shares in the last quarter. Millennium Management LLC grew its position in shares of News by 79.0% during the second quarter. Millennium Management LLC now owns 149,036 shares of the company’s stock worth $4,231,000 after purchasing an additional 65,774 shares in the last quarter. Czech National Bank raised its stake in News by 4.9% during the 3rd quarter. Czech National Bank now owns 22,867 shares of the company’s stock valued at $639,000 after purchasing an additional 1,065 shares during the period. GAMMA Investing LLC lifted its holdings in News by 11.7% in the 3rd quarter. GAMMA Investing LLC now owns 6,061 shares of the company’s stock worth $169,000 after purchasing an additional 634 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new stake in News during the 3rd quarter valued at approximately $80,000. Hedge funds and other institutional investors own 14.63% of the company’s stock.

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.