Point72 Asset Management L.P. Takes $4.71 Million Position in News Co. (NASDAQ:NWSA)

Point72 Asset Management L.P. acquired a new stake in News Co. (NASDAQ:NWSA) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 176,905 shares of the company’s stock, valued at approximately $4,711,000.

Several other large investors have also made changes to their positions in the business. Metropolis Capital Ltd lifted its stake in shares of News by 8.9% in the 3rd quarter. Metropolis Capital Ltd now owns 6,779,137 shares of the company’s stock valued at $180,528,000 after purchasing an additional 555,789 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of News by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,337,650 shares of the company’s stock valued at $115,512,000 after purchasing an additional 53,550 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of News by 2.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,855,605 shares of the company’s stock valued at $78,729,000 after purchasing an additional 61,417 shares during the period. Thompson Siegel & Walmsley LLC lifted its stake in shares of News by 2.9% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 2,120,708 shares of the company’s stock valued at $56,474,000 after purchasing an additional 58,805 shares during the period. Finally, Mirabella Financial Services LLP lifted its stake in shares of News by 22.1% in the 3rd quarter. Mirabella Financial Services LLP now owns 1,745,661 shares of the company’s stock valued at $46,487,000 after purchasing an additional 316,076 shares during the period. 66.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NWSA has been the subject of several analyst reports. Guggenheim boosted their target price on shares of News from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. StockNews.com cut shares of News from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. 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. Finally, JPMorgan Chase & Co. upped their price objective on shares of News from $34.00 to $37.00 and gave the stock an “overweight” rating in a research 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.67.

News Price Performance

Shares of NASDAQ NWSA opened at $29.35 on Monday. The firm has a 50-day simple moving average of $27.73 and a 200-day simple moving average of $27.38. The stock has a market capitalization of $16.69 billion, a price-to-earnings ratio of 47.34 and a beta of 1.35. The company has a quick ratio of 1.26, a current ratio of 1.38 and a debt-to-equity ratio of 0.30. News Co. has a 52 week low of $21.65 and a 52 week high of $30.03.

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.