Covestor Ltd Sells 2,536 Shares of News Co. (NASDAQ:NWSA)

Covestor Ltd lessened its holdings in News Co. (NASDAQ:NWSA) by 42.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,406 shares of the company’s stock after selling 2,536 shares during the period. Covestor Ltd’s holdings in News were worth $91,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in shares of News in the 2nd quarter worth about $26,000. Acadian Asset Management LLC increased its stake in News by 95.1% during the second quarter. Acadian Asset Management LLC now owns 1,038 shares of the company’s stock worth $28,000 after acquiring an additional 506 shares during the last quarter. Innealta Capital LLC purchased a new stake in News during the second quarter valued at approximately $46,000. Family Firm Inc. bought a new stake in shares of News in the 2nd quarter valued at approximately $73,000. Finally, ORG Wealth Partners LLC purchased a new position in shares of News in the 3rd quarter worth approximately $79,000. Hedge funds and other institutional investors own 66.97% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Guggenheim increased their price target on News from $36.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. upped their price target on shares of News from $34.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Loop Capital raised their price objective on shares of News from $38.00 to $39.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Finally, StockNews.com cut News from a “buy” rating to a “hold” rating in a research note on Monday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.67.

News Price Performance

News stock opened at $28.85 on Thursday. The stock has a market cap of $16.40 billion, a price-to-earnings ratio of 46.53 and a beta of 1.34. The firm has a 50-day moving average of $26.75 and a two-hundred day moving average of $26.87. News Co. has a 1 year low of $20.81 and a 1 year high of $30.03. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.38 and a quick ratio of 1.26.

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.