News Co. (NASDAQ:NWSA) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. reduced its stake in News Co. (NASDAQ:NWSA) by 17.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 290,451 shares of the company’s stock after selling 60,532 shares during the period. QRG Capital Management Inc. owned 0.05% of News worth $7,604,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new stake in shares of News in the first quarter valued at about $333,000. Inspire Advisors LLC increased its holdings in News by 8.2% during the 1st quarter. Inspire Advisors LLC now owns 21,517 shares of the company’s stock valued at $563,000 after acquiring an additional 1,631 shares in the last quarter. Atomi Financial Group Inc. increased its stake in shares of News by 11.2% during the 1st quarter. Atomi Financial Group Inc. now owns 9,483 shares of the company’s stock worth $248,000 after purchasing an additional 954 shares in the last quarter. SG Americas Securities LLC grew its holdings in News by 294.2% during the 1st quarter. SG Americas Securities LLC now owns 70,541 shares of the company’s stock valued at $1,847,000 after buying an additional 52,648 shares during the last quarter. Finally, Empirical Finance LLC increased its position in News by 3.5% during the first quarter. Empirical Finance LLC now owns 13,898 shares of the company’s stock worth $364,000 after buying an additional 465 shares in the last quarter. 66.97% of the stock is currently owned by institutional investors and hedge funds.

News Price Performance

News stock traded up $0.74 during midday trading on Tuesday, reaching $28.44. 4,317,086 shares of the company were exchanged, compared to its average volume of 2,739,654. The company has a market capitalization of $16.21 billion, a price-to-earnings ratio of 76.94 and a beta of 1.33. News Co. has a 1 year low of $19.09 and a 1 year high of $28.62. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.25 and a current ratio of 1.36. The firm’s 50-day simple moving average is $26.88 and its 200-day simple moving average is $25.77.

News (NASDAQ:NWSA) last issued its quarterly 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 return on equity of 4.28% and a net margin of 2.09%. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period last year, the company earned $0.09 EPS. On average, analysts anticipate that News Co. will post 0.67 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 in six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.