PNC Financial Services Group Inc. Reduces Holdings in News Co. (NASDAQ:NWSA)

PNC Financial Services Group Inc. trimmed its holdings in shares of News Co. (NASDAQ:NWSA) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,881 shares of the company’s stock after selling 437 shares during the period. PNC Financial Services Group Inc.’s holdings in News were worth $955,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of NWSA. Lindbrook Capital LLC increased its stake in shares of News by 153.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,635 shares of the company’s stock worth $40,000 after purchasing an additional 989 shares in the last quarter. Principal Securities Inc. acquired a new stake in News during the fourth quarter worth approximately $45,000. Financial Management Professionals Inc. acquired a new stake in News during the fourth quarter worth approximately $49,000. Blue Trust Inc. boosted its position in News by 65.1% during the fourth quarter. Blue Trust Inc. now owns 2,655 shares of the company’s stock worth $65,000 after acquiring an additional 1,047 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its position in News by 120.5% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,897 shares of the company’s stock worth $71,000 after acquiring an additional 1,583 shares during the last quarter. 66.97% of the stock is owned by hedge funds and other institutional investors.

News Stock Down 0.2 %

Shares of NASDAQ NWSA opened at $26.85 on Monday. News Co. has a 1 year low of $18.59 and a 1 year high of $28.00. The firm’s 50 day moving average price is $25.78 and its 200 day moving average price is $25.28. The firm has a market cap of $15.30 billion, a P/E ratio of 74.58 and a beta of 1.37. 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 (NASDAQ:NWSA) last announced its earnings results on Wednesday, May 8th. The company reported $0.11 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.11. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.45 billion. News had a net margin of 2.09% and a return on equity of 4.28%. News’s revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.09 earnings per share. As a group, sell-side analysts anticipate that News Co. will post 0.67 earnings per share 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 in six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.