CIBC Asset Management Inc Purchases 4,077 Shares of News Co. (NASDAQ:NWSA)

CIBC Asset Management Inc boosted its position in News Co. (NASDAQ:NWSA) by 8.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,186 shares of the company’s stock after purchasing an additional 4,077 shares during the period. CIBC Asset Management Inc’s holdings in News were worth $1,470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. US Bancorp DE boosted its holdings in News by 2.4% during the 1st quarter. US Bancorp DE now owns 18,406 shares of the company’s stock valued at $482,000 after acquiring an additional 424 shares during the period. Fifth Third Bancorp boosted its stake in shares of News by 3.7% during the second quarter. Fifth Third Bancorp now owns 13,802 shares of the company’s stock valued at $381,000 after purchasing an additional 496 shares during the period. Acadian Asset Management LLC grew its holdings in shares of News by 95.1% in the second quarter. Acadian Asset Management LLC now owns 1,038 shares of the company’s stock worth $28,000 after purchasing an additional 506 shares during the last quarter. CWM LLC lifted its holdings in News by 7.8% during the 2nd quarter. CWM LLC now owns 7,339 shares of the company’s stock valued at $202,000 after buying an additional 532 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in News by 9.0% in the 3rd quarter. GAMMA Investing LLC now owns 6,578 shares of the company’s stock valued at $175,000 after buying an additional 543 shares during the period. Hedge funds and other institutional investors own 66.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NWSA. Guggenheim raised their target price on shares of News from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. StockNews.com downgraded shares of News from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. upped their price target on shares of News from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Finally, Loop Capital lifted their price objective on shares of News from $38.00 to $39.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, News currently has an average rating of “Moderate Buy” and a consensus price target of $38.67.

News Stock Performance

Shares of News stock opened at $28.80 on Wednesday. News Co. has a one year low of $20.95 and a one year high of $30.03. The company has a market capitalization of $16.38 billion, a PE ratio of 46.45 and a beta of 1.34. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.26 and a current ratio of 1.38. The company has a 50-day simple moving average of $26.93 and a two-hundred day simple moving average of $27.02.

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.