Irenic Capital Management LP Has $42 Million Stock Holdings in News Co. (NASDAQ:NWS)

Irenic Capital Management LP decreased its holdings in shares of News Co. (NASDAQ:NWS) by 46.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,380,261 shares of the company’s stock after selling 1,220,728 shares during the period. News comprises approximately 4.5% of Irenic Capital Management LP’s holdings, making the stock its 5th largest position. Irenic Capital Management LP owned about 0.24% of News worth $42,001,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB grew its holdings in News by 123.7% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 935 shares of the company’s stock valued at $28,000 after buying an additional 517 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of News by 136.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,217 shares of the company’s stock worth $37,000 after purchasing an additional 702 shares during the period. ExodusPoint Capital Management LP bought a new stake in News during the fourth quarter valued at about $43,000. Harvest Fund Management Co. Ltd grew its stake in News by 2,892.8% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 2,065 shares of the company’s stock worth $61,000 after buying an additional 1,996 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its position in News by 22.9% during the 4th quarter. Asset Management One Co. Ltd. now owns 2,668 shares of the company’s stock worth $82,000 after purchasing an additional 497 shares during the last quarter. Institutional investors own 14.63% of the company’s stock.

News Stock Performance

NWS opened at $32.57 on Friday. The firm’s fifty day simple moving average is $30.59 and its two-hundred day simple moving average is $31.20. News Co. has a 52-week low of $25.92 and a 52-week high of $35.25. The company has a market cap of $18.48 billion, a price-to-earnings ratio of 44.62 and a beta of 1.28. The company has a quick ratio of 1.65, a current ratio of 1.73 and a debt-to-equity ratio of 0.22.

News (NASDAQ:NWS) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.05). The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2 billion. News had a return on equity of 5.31% and a net margin of 4.22%. Equities analysts anticipate that News Co. will post 1.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Seaport Res Ptn raised shares of News to a “strong-buy” rating in a report on Friday, January 31st.

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.