ING Groep NV Raises Stock Position in News Co. (NASDAQ:NWSA)

ING Groep NV raised its holdings in News Co. (NASDAQ:NWSA) by 815.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 429,598 shares of the company’s stock after purchasing an additional 382,671 shares during the quarter. ING Groep NV owned 0.08% of News worth $11,440,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NWSA. Metropolis Capital Ltd grew its holdings in News by 8.9% during the third quarter. Metropolis Capital Ltd now owns 6,779,137 shares of the company’s stock worth $180,528,000 after acquiring an additional 555,789 shares during the period. AQR Capital Management LLC grew its stake in shares of News by 188.3% during the 2nd quarter. AQR Capital Management LLC now owns 491,123 shares of the company’s stock worth $13,540,000 after purchasing an additional 320,785 shares during the period. Jane Street Group LLC increased its holdings in shares of News by 812.6% during the 1st quarter. Jane Street Group LLC now owns 229,262 shares of the company’s stock valued at $6,002,000 after purchasing an additional 204,141 shares in the last quarter. Achmea Investment Management B.V. boosted its holdings in News by 504.7% during the second quarter. Achmea Investment Management B.V. now owns 236,044 shares of the company’s stock worth $6,508,000 after buying an additional 197,008 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in News by 230.8% during the second quarter. Assenagon Asset Management S.A. now owns 268,326 shares of the company’s stock valued at $7,398,000 after buying an additional 187,222 shares during the period. 66.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NWSA. Loop Capital upped 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 News from a “buy” rating to a “hold” rating in a report on Monday. JPMorgan Chase & Co. upped their target price on News from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Finally, Guggenheim lifted their price target on shares of News from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.67.

News Stock Performance

Shares of NASDAQ:NWSA opened at $29.11 on Friday. 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 Co. has a 1 year low of $20.83 and a 1 year high of $30.03. The firm has a market capitalization of $16.55 billion, a PE ratio of 46.95 and a beta of 1.34. The business’s 50 day moving average price is $26.80 and its 200-day moving average price is $26.89.

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.