Point72 Hong Kong Ltd Takes Position in News Co. (NASDAQ:NWSA)

Point72 Hong Kong Ltd purchased a new stake in shares of News Co. (NASDAQ:NWSA) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 62,666 shares of the company’s stock, valued at approximately $1,669,000.

Other hedge funds have also recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of News by 1,815.4% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,413,158 shares of the company’s stock valued at $37,632,000 after buying an additional 1,339,379 shares during the last quarter. Bank of Montreal Can grew its position in shares of News by 230.1% in the 3rd quarter. Bank of Montreal Can now owns 1,092,506 shares of the company’s stock valued at $28,951,000 after acquiring an additional 761,524 shares during the period. Metropolis Capital Ltd increased its stake in shares of News by 8.9% during the 3rd quarter. Metropolis Capital Ltd now owns 6,779,137 shares of the company’s stock worth $180,528,000 after purchasing an additional 555,789 shares during the last quarter. ING Groep NV raised its holdings in shares of News by 815.5% in the 3rd quarter. ING Groep NV now owns 429,598 shares of the company’s stock valued at $11,440,000 after purchasing an additional 382,671 shares during the period. Finally, AQR Capital Management LLC lifted its stake in News by 188.3% in the 2nd quarter. AQR Capital Management LLC now owns 491,123 shares of the company’s stock valued at $13,540,000 after purchasing an additional 320,785 shares during the last quarter. 66.97% of the stock is currently owned by institutional investors.

News Stock Up 1.0 %

NWSA opened at $29.35 on Monday. 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 stock has a fifty day moving average of $27.42 and a 200-day moving average of $27.26. News Co. has a fifty-two week low of $21.52 and a fifty-two week high of $30.03. The company has a market capitalization of $16.69 billion, a P/E ratio of 47.34 and a beta of 1.34.

Analysts Set New Price Targets

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

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.