CIBC Asset Management Inc Acquires 1,165 Shares of News Co. (NASDAQ:NWS)

CIBC Asset Management Inc lifted its stake in News Co. (NASDAQ:NWS) by 6.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 18,780 shares of the company’s stock after buying an additional 1,165 shares during the quarter. CIBC Asset Management Inc’s holdings in News were worth $525,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Covestor Ltd grew its position in News by 69.9% in the first quarter. Covestor Ltd now owns 1,201 shares of the company’s stock valued at $33,000 after acquiring an additional 494 shares during the period. Blue Trust Inc. grew its holdings in shares of News by 253.3% in the 3rd quarter. Blue Trust Inc. now owns 2,021 shares of the company’s stock worth $57,000 after purchasing an additional 1,449 shares during the last quarter. iA Global Asset Management Inc. acquired a new stake in shares of News during the 1st quarter worth about $76,000. ORG Wealth Partners LLC bought a new position in News during the 3rd quarter valued at about $80,000. Finally, ORG Partners LLC acquired a new position in News in the second quarter valued at about $81,000. Institutional investors own 14.63% of the company’s stock.

News Trading Down 0.3 %

Shares of NWS opened at $31.69 on Thursday. 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 market cap of $18.02 billion, a price-to-earnings ratio of 51.11 and a beta of 1.36. The stock has a fifty day moving average price of $28.75 and a two-hundred day moving average price of $28.22. News Co. has a 52-week low of $21.99 and a 52-week high of $32.75.

Analysts Set New Price Targets

Separately, Loop Capital raised shares of News to a “strong-buy” rating in a report on Tuesday, September 10th.

News 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.