Kentucky Retirement Systems Insurance Trust Fund Reduces Holdings in News Co. (NASDAQ:NWSA)

Kentucky Retirement Systems Insurance Trust Fund decreased its holdings in News Co. (NASDAQ:NWSA) by 7.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,541 shares of the company’s stock after selling 1,017 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in News were worth $328,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in News during the fourth quarter valued at approximately $139,956,000. Charles Schwab Investment Management Inc. raised its position in shares of News by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,203,777 shares of the company’s stock valued at $103,203,000 after buying an additional 62,805 shares during the last quarter. Contour Asset Management LLC raised its position in shares of News by 97.8% during the fourth quarter. Contour Asset Management LLC now owns 3,442,650 shares of the company’s stock valued at $84,517,000 after buying an additional 1,702,483 shares during the last quarter. Balyasny Asset Management L.P. raised its position in shares of News by 249.7% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,206,990 shares of the company’s stock valued at $54,182,000 after buying an additional 1,575,803 shares during the last quarter. Finally, Junto Capital Management LP bought a new stake in shares of News during the fourth quarter valued at approximately $43,928,000. Hedge funds and other institutional investors own 66.97% of the company’s stock.

News Price Performance

Shares of News stock traded up $0.26 on Monday, hitting $27.75. 669,558 shares of the company traded hands, compared to its average volume of 2,717,925. The stock has a market capitalization of $15.81 billion, a P/E ratio of 76.36 and a beta of 1.33. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.25 and a current ratio of 1.36. News Co. has a 52 week low of $19.25 and a 52 week high of $28.62. The business has a 50-day simple moving average of $27.31 and a 200 day simple moving average of $25.98.

News (NASDAQ:NWSA) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. News had a net margin of 2.09% and a return on equity of 4.28%. The firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.45 billion. During the same quarter last year, the business posted $0.09 earnings per share. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. Research analysts expect that News Co. will post 0.67 earnings per share for the current fiscal 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 in six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.