Geode Capital Management LLC Acquires 90,419 Shares of News Co. (NASDAQ:NWSA)

Geode Capital Management LLC raised its holdings in News Co. (NASDAQ:NWSA) by 0.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 9,622,246 shares of the company’s stock after buying an additional 90,419 shares during the period. Geode Capital Management LLC’s holdings in News were worth $255,457,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of NWSA. Cetera Advisors LLC bought a new position in shares of News in the first quarter worth about $261,000. Wealth Enhancement Advisory Services LLC bought a new position in News in the 2nd quarter worth about $289,000. Assenagon Asset Management S.A. increased its position in shares of News by 230.8% during the second quarter. Assenagon Asset Management S.A. now owns 268,326 shares of the company’s stock worth $7,398,000 after acquiring an additional 187,222 shares during the period. Blue Trust Inc. raised its stake in shares of News by 185.8% during the second quarter. Blue Trust Inc. now owns 4,435 shares of the company’s stock valued at $116,000 after acquiring an additional 2,883 shares in the last quarter. Finally, Fifth Third Bancorp boosted its holdings in shares of News by 3.7% in the second quarter. Fifth Third Bancorp now owns 13,802 shares of the company’s stock valued at $381,000 after purchasing an additional 496 shares during the period. Hedge funds and other institutional investors own 66.97% of the company’s stock.

News Trading Down 1.3 %

Shares of NASDAQ:NWSA opened at $28.61 on Friday. The company has a market capitalization of $16.27 billion, a PE ratio of 46.15 and a beta of 1.35. 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 $22.65 and a 12-month high of $30.03. The business’s fifty day simple moving average is $28.00 and its 200-day simple moving average is $27.47.

Analyst Upgrades and Downgrades

NWSA has been the subject of a number of research analyst reports. Guggenheim lifted their target price on News from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Loop Capital raised their price target on News from $41.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, StockNews.com raised shares of News from a “hold” rating to a “buy” rating in a research note on Tuesday, December 10th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, News currently has an average rating of “Buy” and a consensus price target of $40.33.

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.