News (NASDAQ:NWS) Shares Gap Up – What’s Next?

News Co. (NASDAQ:NWS)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $33.24, but opened at $34.97. News shares last traded at $32.63, with a volume of 65,892 shares trading hands.

Analyst Ratings Changes

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

News Price Performance

The company has a market cap of $18.68 billion, a price-to-earnings ratio of 53.11 and a beta of 1.38. 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 company has a 50 day moving average price of $31.26 and a 200-day moving average price of $29.62.

News (NASDAQ:NWS) last posted its earnings results on Wednesday, February 5th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.01). News had a return on equity of 4.76% and a net margin of 3.49%.

Hedge Funds Weigh In On News

Institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. purchased a new position in shares of News during the 4th quarter valued at $384,000. Smartleaf Asset Management LLC grew its holdings in 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 acquiring an additional 702 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of News during the fourth quarter valued at approximately $823,000. New York Life Investment Management LLC lifted its position in shares of News by 10.3% in the 4th quarter. New York Life Investment Management LLC now owns 25,626 shares of the company’s stock worth $780,000 after purchasing an additional 2,387 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in News by 17.5% during the 4th quarter. Bank of New York Mellon Corp now owns 845,246 shares of the company’s stock valued at $25,721,000 after acquiring an additional 125,852 shares in the last quarter. Hedge funds and other institutional investors own 14.63% of the company’s stock.

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.