KBC Group NV Sells 9,301 Shares of News Co. (NASDAQ:NWSA)

KBC Group NV cut its stake in shares of News Co. (NASDAQ:NWSA - Free Report) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 375,714 shares of the company's stock after selling 9,301 shares during the period. KBC Group NV owned 0.07% of News worth $10,348,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brooklyn Investment Group acquired a new stake in shares of News during the 3rd quarter worth $39,000. ORG Wealth Partners LLC acquired a new position in shares of News in the 3rd quarter valued at approximately $79,000. Wilmington Savings Fund Society FSB bought a new stake in shares of News during the 3rd quarter worth approximately $85,000. Exchange Traded Concepts LLC increased its stake in News by 1,419.6% in the third quarter. Exchange Traded Concepts LLC now owns 5,045 shares of the company's stock valued at $134,000 after acquiring an additional 4,713 shares during the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in News during the fourth quarter valued at approximately $137,000. Institutional investors and hedge funds own 66.97% of the company's stock.

News Trading Down 0.6 %

News stock traded down $0.17 during trading hours on Thursday, reaching $28.03. 1,600,027 shares of the company's stock were exchanged, compared to its average volume of 2,312,256. News Co. has a twelve month low of $22.65 and a twelve month high of $30.03. The company has a quick ratio of 1.26, a current ratio of 1.38 and a debt-to-equity ratio of 0.30. The firm's 50 day simple moving average is $28.29 and its 200 day simple moving average is $27.56. The firm has a market capitalization of $15.94 billion, a PE ratio of 45.35 and a beta of 1.35.

News (NASDAQ:NWSA - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.21 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.05. The business had revenue of $2.58 billion during the quarter, compared to analysts' expectations of $2.56 billion. News had a net margin of 3.49% and a return on equity of 4.76%. During the same period last year, the company posted $0.16 earnings per share. Research analysts predict that News Co. will post 0.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. StockNews.com raised News from a "hold" rating to a "buy" rating in a research note on Saturday, January 25th. Guggenheim upped their price target on shares of News from $40.00 to $43.00 and gave the stock a "buy" rating in a report on Wednesday, January 22nd. Loop Capital reduced their price objective on News from $44.00 to $41.00 and set a "buy" rating on the stock in a research report on Monday, December 23rd. Finally, Citigroup began coverage on News in a research report on Friday, January 10th. They issued a "buy" rating and a $36.00 target price for the company. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $39.25.

News Company 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.