News (NASDAQ:NWSA) Shares Gap Down – What’s Next?

News Co. (NASDAQ:NWSA)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $29.33, but opened at $28.66. News shares last traded at $28.85, with a volume of 79,435 shares traded.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on NWSA shares. Guggenheim upped their price target on News from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday. StockNews.com downgraded shares of News from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. boosted their price target on shares of News from $34.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Finally, Loop Capital increased their price objective on News from $38.00 to $39.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.67.

News Stock Down 1.7 %

The business has a 50-day simple moving average of $26.84 and a two-hundred day simple moving average of $26.92. The company has a quick ratio of 1.26, a current ratio of 1.38 and a debt-to-equity ratio of 0.30. The company has a market cap of $16.27 billion, a price-to-earnings ratio of 46.16 and a beta of 1.34.

Hedge Funds Weigh In On News

A number of institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC bought a new stake in News during the 2nd quarter valued at approximately $26,000. Acadian Asset Management LLC boosted its position in shares of News by 95.1% in the second quarter. Acadian Asset Management LLC now owns 1,038 shares of the company’s stock valued at $28,000 after acquiring an additional 506 shares during the period. Brooklyn Investment Group acquired a new stake in shares of News in the third quarter worth $39,000. Innealta Capital LLC acquired a new position in News during the 2nd quarter valued at $46,000. Finally, Covestor Ltd boosted its holdings in News by 125.8% in the 1st quarter. Covestor Ltd now owns 1,727 shares of the company’s stock valued at $45,000 after purchasing an additional 962 shares during the period. Institutional investors own 66.97% of the company’s stock.

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.