News Corp (NWSA) Sees Large Growth in Short Interest

News Corp (NASDAQ:NWSA) was the recipient of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 14,435,075 shares, a growth of 31.9% from the October 15th total of 10,945,318 shares. Based on an average daily volume of 4,648,643 shares, the days-to-cover ratio is currently 3.1 days.

Shares of NWSA opened at $14.24 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.33 and a quick ratio of 1.22. News has a one year low of $12.23 and a one year high of $17.29. The firm has a market capitalization of $7.74 billion, a P/E ratio of 32.36, a PEG ratio of 5.10 and a beta of 1.61.

News (NASDAQ:NWSA) last issued its quarterly earnings data on Wednesday, November 7th. The company reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.12. News had a positive return on equity of 2.41% and a negative net margin of 16.78%. The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.53 billion. During the same quarter in the previous year, the company posted $0.07 earnings per share. News’s revenue was up 22.6% compared to the same quarter last year. Equities research analysts predict that News will post 0.38 EPS for the current fiscal year.

Several research firms have recently weighed in on NWSA. Zacks Investment Research upgraded News from a “sell” rating to a “hold” rating in a research note on Monday, September 24th. UBS Group upgraded News from a “sell” rating to a “neutral” rating in a research note on Wednesday, August 29th. ValuEngine cut News from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. Finally, Loop Capital upgraded News from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research note on Tuesday, September 4th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $15.50.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Pzena Investment Management LLC grew its holdings in shares of News by 1.2% in the third quarter. Pzena Investment Management LLC now owns 22,541,912 shares of the company’s stock worth $297,328,000 after acquiring an additional 269,975 shares during the period. Thompson Siegel & Walmsley LLC grew its holdings in shares of News by 39.6% in the third quarter. Thompson Siegel & Walmsley LLC now owns 7,477,881 shares of the company’s stock worth $98,633,000 after acquiring an additional 2,122,062 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of News by 0.5% in the third quarter. Bank of New York Mellon Corp now owns 3,251,770 shares of the company’s stock worth $42,890,000 after acquiring an additional 17,628 shares during the period. Janus Henderson Group PLC grew its holdings in shares of News by 73.5% in the third quarter. Janus Henderson Group PLC now owns 2,071,114 shares of the company’s stock worth $27,317,000 after acquiring an additional 877,204 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of News by 1.1% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,237,108 shares of the company’s stock worth $16,317,000 after acquiring an additional 13,852 shares during the period. 60.49% of the stock is owned by institutional investors.

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About News

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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