News Corp (NASDAQ:NWS) Sees Large Decline in Short Interest

News Corp (NASDAQ:NWS) saw a large decline in short interest in the month of June. As of June 30th, there was short interest totalling 1,670,000 shares, a decline of 10.2% from the June 15th total of 1,860,000 shares. Based on an average daily volume of 690,900 shares, the short-interest ratio is presently 2.4 days. Approximately 1.5% of the shares of the company are sold short.

NWS stock traded down $0.18 during mid-day trading on Wednesday, reaching $12.03. 282,300 shares of the company traded hands, compared to its average volume of 819,162. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.39 and a quick ratio of 1.26. The company has a market capitalization of $7.19 billion, a P/E ratio of -7.61 and a beta of 1.49. News has a 52-week low of $7.88 and a 52-week high of $15.36. The company has a fifty day moving average price of $12.06 and a 200-day moving average price of $12.08.

News (NASDAQ:NWS) last posted its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.01. The business had revenue of $2.27 billion during the quarter. News had a positive return on equity of 1.96% and a negative net margin of 9.66%.

A number of brokerages recently issued reports on NWS. ValuEngine upgraded News from a “sell” rating to a “hold” rating in a research note on Friday, March 20th. BidaskClub upgraded News from a “sell” rating to a “hold” rating in a research note on Wednesday, April 29th.

In other news, General Counsel David B. Pitofsky sold 11,433 shares of News stock in a transaction on Friday, June 5th. The stock was sold at an average price of $13.26, for a total transaction of $151,601.58. Following the sale, the general counsel now directly owns 22,866 shares in the company, valued at approximately $303,203.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 39.40% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. FMR LLC lifted its position in News by 7.9% in the first quarter. FMR LLC now owns 17,149 shares of the company’s stock valued at $214,000 after purchasing an additional 1,254 shares during the last quarter. Principal Financial Group Inc. lifted its position in News by 0.7% in the first quarter. Principal Financial Group Inc. now owns 178,050 shares of the company’s stock valued at $1,601,000 after purchasing an additional 1,317 shares during the last quarter. Northwestern Mutual Investment Management Company LLC lifted its position in News by 30.7% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 6,182 shares of the company’s stock valued at $56,000 after purchasing an additional 1,452 shares during the last quarter. Prudential Financial Inc. lifted its position in News by 1.7% in the fourth quarter. Prudential Financial Inc. now owns 98,912 shares of the company’s stock valued at $1,435,000 after purchasing an additional 1,650 shares during the last quarter. Finally, NumerixS Investment Technologies Inc bought a new stake in News in the fourth quarter valued at approximately $29,000. 10.60% of the stock is owned by institutional investors and hedge funds.

News Company Profile

News Corporation, a media and information services company, creates and distributes content for consumers and businesses worldwide. It operates in five segments: News and Information Services, Book Publishing, Digital Real Estate Services, Subscription Video Services, and Other. The company distributes content and data products, including The Wall Street Journal, Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires, Barron's, MarketWatch, and DJX through various media channels, such as newspapers, newswires, Websites, mobile device applications, tablets and e-book readers, newsletters, magazines, proprietary databases, live journalism, video, and podcasts.

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