ING Groep NV Sells 55,382 Shares of News Co. (NASDAQ:NWS)

ING Groep NV reduced its stake in shares of News Co. (NASDAQ:NWS) by 78.7% in the third quarter, HoldingsChannel.com reports. The firm owned 15,013 shares of the company’s stock after selling 55,382 shares during the period. ING Groep NV’s holdings in News were worth $420,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Dorsey Wright & Associates raised its position in News by 0.4% in the 2nd quarter. Dorsey Wright & Associates now owns 108,906 shares of the company’s stock valued at $3,092,000 after buying an additional 409 shares during the last quarter. QRG Capital Management Inc. grew its stake in shares of News by 1.4% in the 2nd quarter. QRG Capital Management Inc. now owns 35,065 shares of the company’s stock worth $995,000 after acquiring an additional 486 shares in the last quarter. Covestor Ltd raised its holdings in shares of News by 69.9% in the first quarter. Covestor Ltd now owns 1,201 shares of the company’s stock valued at $33,000 after purchasing an additional 494 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of News by 8.7% during the second quarter. Daiwa Securities Group Inc. now owns 7,638 shares of the company’s stock valued at $217,000 after purchasing an additional 612 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in News by 11.7% during the third quarter. GAMMA Investing LLC now owns 6,061 shares of the company’s stock worth $169,000 after purchasing an additional 634 shares during the last quarter. Institutional investors own 14.63% of the company’s stock.

News Stock Performance

Shares of News stock opened at $31.69 on Monday. The firm has a market capitalization of $18.02 billion, a P/E ratio of 51.11 and a beta of 1.36. 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 business’s fifty day simple moving average is $28.49 and its 200 day simple moving average is $28.10. News Co. has a 12 month low of $21.75 and a 12 month high of $32.75.

Wall Street Analysts Forecast Growth

Separately, Loop Capital raised shares of News to a “strong-buy” rating in a research 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.