Bank of Montreal Can Purchases 761,524 Shares of News Co. (NASDAQ:NWSA)

Bank of Montreal Can grew its position in News Co. (NASDAQ:NWSA) by 230.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,092,506 shares of the company’s stock after buying an additional 761,524 shares during the period. Bank of Montreal Can owned 0.19% of News worth $28,951,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in News in the second quarter valued at approximately $26,000. Acadian Asset Management LLC boosted its position in shares of News by 95.1% in the 2nd quarter. Acadian Asset Management LLC now owns 1,038 shares of the company’s stock worth $28,000 after purchasing an additional 506 shares in the last quarter. Innealta Capital LLC purchased a new position in News during the 2nd quarter worth $46,000. Family Firm Inc. acquired a new position in News during the 2nd quarter valued at about $73,000. Finally, ORG Wealth Partners LLC purchased a new stake in News in the third quarter valued at about $79,000. Hedge funds and other institutional investors own 66.97% of the company’s stock.

Wall Street Analyst Weigh In

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

News Stock Performance

NWSA opened at $29.35 on Friday. The firm has a 50 day moving average of $27.36 and a two-hundred day moving average of $27.22. The firm has a market capitalization of $16.69 billion, a PE ratio of 47.34 and a beta of 1.34. The company has a current ratio of 1.38, a quick ratio of 1.26 and a debt-to-equity ratio of 0.30. News Co. has a 12-month low of $21.52 and a 12-month high of $30.03.

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.