News Co. (NASDAQ:NWS) Sees Significant Drop in Short Interest
News Co. (NASDAQ:NWS – Get Free Report) saw a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 6,340,000 shares, a decrease of 24.1% from the October 31st total of 8,350,000 shares. Approximately 6.1% of the company’s stock are short sold. Based on an average daily volume of 1,340,000 shares, the days-to-cover ratio is currently 4.7 days.
Hedge Funds Weigh In On News
Several hedge funds and other institutional investors have recently bought and sold shares of NWS. Glenmede Trust Co. NA bought a new position in shares of News in the 3rd quarter worth approximately $25,000. Nisa Investment Advisors LLC lifted its stake in shares of News by 202.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,610 shares of the company’s stock worth $28,000 after purchasing an additional 1,078 shares during the period. Captrust Financial Advisors lifted its stake in shares of News by 40.6% in the 2nd quarter. Captrust Financial Advisors now owns 2,378 shares of the company’s stock worth $38,000 after purchasing an additional 687 shares during the period. Desjardins Global Asset Management Inc. lifted its stake in shares of News by 138.5% in the 2nd quarter. Desjardins Global Asset Management Inc. now owns 1,975 shares of the company’s stock worth $39,000 after purchasing an additional 1,147 shares during the period. Finally, V Square Quantitative Management LLC bought a new stake in News during the 3rd quarter worth approximately $48,000. Institutional investors own 13.46% of the company’s stock.
News Stock Performance
NWS traded up $0.11 during midday trading on Friday, hitting $23.15. 584,507 shares of the company traded hands, compared to its average volume of 1,169,094. The company has a quick ratio of 1.18, a current ratio of 1.31 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $13.24 billion, a PE ratio of 92.60 and a beta of 1.35. The company’s 50-day moving average is $21.84 and its 200 day moving average is $20.75. News has a 52 week low of $15.73 and a 52 week high of $23.53.
News (NASDAQ:NWS – Get Free Report) last posted its earnings results on Thursday, November 9th. The company reported $0.16 earnings per share (EPS) for the quarter. The business had revenue of $2.50 billion for the quarter. News had a net margin of 1.40% and a return on equity of 3.40%.
News Company Profile (Get Free Report)
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.
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Original: MarketBeat News Feed: News Co. (NASDAQ:NWS) Sees Significant Drop in Short Interest