Metropolis Capital Ltd Sells 2,337,279 Shares of News Co. (NASDAQ:NWSA)

Metropolis Capital Ltd lessened its position in News Co. (NASDAQ:NWSA) by 34.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,441,858 shares of the company’s stock after selling 2,337,279 shares during the quarter. News accounts for approximately 4.3% of Metropolis Capital Ltd’s portfolio, making the stock its 11th largest holding. Metropolis Capital Ltd owned about 0.78% of News worth $122,329,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NWSA. Brooklyn Investment Group purchased a new position in shares of News during the 3rd quarter valued at about $39,000. ORG Wealth Partners LLC purchased a new position in shares of News during the third quarter worth approximately $79,000. Wilmington Savings Fund Society FSB bought a new stake in shares of News in the 3rd quarter worth approximately $85,000. FNY Investment Advisers LLC purchased a new stake in shares of News in the 4th quarter valued at $137,000. Finally, Exchange Traded Concepts LLC grew its holdings in shares of News by 1,419.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 5,045 shares of the company’s stock valued at $134,000 after purchasing an additional 4,713 shares during the last quarter. Institutional investors own 66.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NWSA. Loop Capital reduced their price objective on News from $44.00 to $41.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. StockNews.com cut News from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Citigroup initiated coverage on News in a research note on Friday, January 10th. They set a “buy” rating and a $36.00 price objective for the company. Finally, Guggenheim upped their price target on shares of News from $40.00 to $43.00 and gave the company a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $39.25.

News Price Performance

NWSA opened at $27.87 on Friday. 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’s 50 day moving average price is $28.36 and its 200-day moving average price is $27.54. The stock has a market capitalization of $15.85 billion, a PE ratio of 44.95 and a beta of 1.35. News Co. has a 52-week low of $22.65 and a 52-week high of $30.03.

News (NASDAQ:NWSA) last announced its earnings results on Thursday, November 7th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. News had a net margin of 3.49% and a return on equity of 4.76%. The firm had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the previous year, the firm posted $0.16 EPS. On average, equities research analysts predict that News Co. will post 0.91 EPS for the current year.

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.