News Co. (NASDAQ:NWSA) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc raised its holdings in News Co. (NASDAQ:NWSA) by 8.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 55,186 shares of the company’s stock after acquiring an additional 4,077 shares during the quarter. CIBC Asset Management Inc’s holdings in News were worth $1,470,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. International Assets Investment Management LLC purchased a new position in shares of News in the 2nd quarter valued at approximately $26,000. Acadian Asset Management LLC lifted its stake in shares of 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 buying an additional 506 shares during the period. Covestor Ltd grew its holdings in shares of News by 125.8% during the first quarter. Covestor Ltd now owns 1,727 shares of the company’s stock valued at $45,000 after buying an additional 962 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of News in the 2nd quarter valued at $46,000. Finally, Family Firm Inc. purchased a new position in News in the 2nd quarter worth $73,000. Institutional investors and hedge funds own 66.97% of the company’s stock.

News Stock Up 0.7 %

Shares of NWSA stock opened at $28.80 on Wednesday. News Co. has a twelve month low of $20.95 and a twelve month high of $30.03. The stock has a market cap of $16.38 billion, a P/E ratio of 46.45 and a beta of 1.34. The stock has a 50 day moving average of $26.93 and a 200 day moving average of $27.02. The company has a current ratio of 1.38, a quick ratio of 1.26 and a debt-to-equity ratio of 0.30.

Wall Street Analyst Weigh In

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

About News

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.