Covestor Ltd Sells 1,556 Shares of News Co. (NASDAQ:NWS)

Covestor Ltd lowered its stake in shares of News Co. (NASDAQ:NWS) by 42.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,152 shares of the company’s stock after selling 1,556 shares during the period. Covestor Ltd’s holdings in News were worth $60,000 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. Allspring Global Investments Holdings LLC lifted its stake in News by 64.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 9,833 shares of the company’s stock worth $266,000 after purchasing an additional 3,848 shares during the last quarter. QRG Capital Management Inc. grew its position in News by 183.8% during the first quarter. QRG Capital Management Inc. now owns 34,579 shares of the company’s stock valued at $936,000 after acquiring an additional 22,394 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of News by 21.3% during the first quarter. Russell Investments Group Ltd. now owns 4,009 shares of the company’s stock worth $108,000 after acquiring an additional 703 shares in the last quarter. Edgestream Partners L.P. lifted its holdings in shares of News by 156.1% in the 1st quarter. Edgestream Partners L.P. now owns 156,547 shares of the company’s stock worth $4,236,000 after acquiring an additional 95,429 shares during the last quarter. Finally, UniSuper Management Pty Ltd boosted its stake in shares of News by 1,006.5% in the 1st quarter. UniSuper Management Pty Ltd now owns 7,690 shares of the company’s stock valued at $208,000 after purchasing an additional 6,995 shares in the last quarter. 14.63% of the stock is owned by institutional investors.

News Stock Up 0.4 %

Shares of News stock opened at $31.83 on Friday. The company’s 50 day moving average price is $28.34 and its 200-day moving average price is $27.98. News Co. has a 52-week low of $21.75 and a 52-week high of $32.75. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.26 and a current ratio of 1.38. The stock has a market capitalization of $18.10 billion, a price-to-earnings ratio of 51.34 and a beta of 1.36.

Wall Street Analyst Weigh In

Separately, Loop Capital upgraded News to a “strong-buy” rating in a report on Tuesday, September 10th.

About News

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.