Verition Fund Management LLC Acquires 299,807 Shares of News Co. (NASDAQ:NWSA)

Verition Fund Management LLC lifted its stake in News Co. (NASDAQ:NWSA) by 1,224.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 324,297 shares of the company’s stock after purchasing an additional 299,807 shares during the period. Verition Fund Management LLC’s holdings in News were worth $8,636,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NWSA. Seelaus Asset Management LLC lifted its holdings in shares of News by 3.8% in the 3rd quarter. Seelaus Asset Management LLC now owns 11,399 shares of the company’s stock worth $304,000 after buying an additional 417 shares during the period. Fifth Third Bancorp lifted its stake in News by 3.7% in the second quarter. Fifth Third Bancorp now owns 13,802 shares of the company’s stock worth $381,000 after acquiring an additional 496 shares during the period. Acadian Asset Management LLC increased its position in News by 95.1% during the 2nd quarter. Acadian Asset Management LLC now owns 1,038 shares of the company’s stock valued at $28,000 after purchasing an additional 506 shares during the period. CWM LLC raised its stake in News by 7.8% in the second quarter. CWM LLC now owns 7,339 shares of the company’s stock worth $202,000 after buying an additional 532 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in News by 9.0% during the third quarter. GAMMA Investing LLC now owns 6,578 shares of the company’s stock valued at $175,000 after purchasing an additional 543 shares in the last quarter. Institutional investors own 66.97% of the company’s stock.

Wall Street Analysts Forecast Growth

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

News Stock Up 1.0 %

NWSA opened at $29.35 on Monday. The company has a fifty day moving average of $27.42 and a two-hundred day moving average of $27.26. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.26 and a current ratio of 1.38. News Co. has a fifty-two week low of $21.52 and a fifty-two week high of $30.03. The stock has a market capitalization of $16.69 billion, a price-to-earnings ratio of 47.34 and a beta of 1.34.

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.