Texas Permanent School Fund Corp boosted its holdings in News Co. (NASDAQ:NWSA – Free Report) by 53.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 79,716 shares of the company’s stock after purchasing an additional 27,668 shares during the quarter. Texas Permanent School Fund Corp’s holdings in News were worth $1,377,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ExodusPoint Capital Management LP acquired a new stake in shares of News in the fourth quarter valued at approximately $30,000. Bessemer Group Inc. boosted its holdings in shares of News by 50.5% in the fourth quarter. Bessemer Group Inc. now owns 2,313 shares of the company’s stock valued at $42,000 after acquiring an additional 776 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in shares of News during the fourth quarter worth approximately $50,000. Desjardins Global Asset Management Inc. purchased a new stake in shares of News during the first quarter worth approximately $62,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of News by 13.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 5,240 shares of the company’s stock worth $95,000 after purchasing an additional 623 shares during the last quarter. 66.31% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Separately, StockNews.com initiated coverage on News in a research note on Thursday, May 18th. They set a “hold” rating for the company.
News Stock Performance
News (NASDAQ:NWSA – Get Free Report) last issued its earnings results on Thursday, May 11th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.06 by $0.03. The company had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.40 billion. News had a return on equity of 4.71% and a net margin of 2.64%. During the same quarter last year, the firm earned $0.16 EPS. On average, sell-side analysts forecast that News Co. will post 0.44 earnings per share for the current fiscal year.
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 in six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.
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