Exchange Traded Concepts LLC Has $124,000 Stake in News Co. (NASDAQ:NWS)

Exchange Traded Concepts LLC cut its position in shares of News Co. (NASDAQ:NWS) by 94.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,426 shares of the company’s stock after selling 81,329 shares during the quarter. Exchange Traded Concepts LLC’s holdings in News were worth $124,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Metropolis Capital Ltd lifted its stake in News by 13.2% in the second quarter. Metropolis Capital Ltd now owns 842,235 shares of the company’s stock valued at $23,911,000 after buying an additional 98,172 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of News during the 2nd quarter valued at $22,415,000. BNP Paribas Financial Markets boosted its stake in News by 11.5% during the first quarter. BNP Paribas Financial Markets now owns 215,847 shares of the company’s stock worth $5,841,000 after acquiring an additional 22,287 shares in the last quarter. Hsbc Holdings PLC grew its holdings in News by 7.4% in the second quarter. Hsbc Holdings PLC now owns 215,462 shares of the company’s stock worth $6,131,000 after purchasing an additional 14,791 shares during the period. Finally, Renaissance Technologies LLC increased its stake in News by 24.9% in the second quarter. Renaissance Technologies LLC now owns 186,630 shares of the company’s stock valued at $5,298,000 after purchasing an additional 37,220 shares in the last quarter. Institutional investors own 14.63% of the company’s stock.

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.

News Stock Down 0.3 %

Shares of NASDAQ:NWS opened at $27.85 on Wednesday. The firm has a market cap of $15.87 billion, a P/E ratio of 77.36 and a beta of 1.36. News Co. has a 52-week low of $20.85 and a 52-week high of $29.59. The business’s 50 day simple moving average is $28.01 and its two-hundred day simple moving average is $27.49. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.33 and a current ratio of 1.43.

News (NASDAQ:NWS) last issued its earnings results on Thursday, August 8th. The company reported $0.17 earnings per share (EPS) for the quarter. The company had revenue of $2.58 billion for the quarter. News had a return on equity of 4.51% and a net margin of 2.64%.

News Announces Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Wednesday, October 9th. Stockholders of record on Wednesday, September 11th were given a dividend of $0.10 per share. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, September 11th. News’s payout ratio is presently 55.56%.

News 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 through six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.