M&T Bank Corp Lowers Position in News Co. (NASDAQ:NWSA)

M&T Bank Corp trimmed its stake in shares of News Co. (NASDAQ:NWSA) by 3.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,418 shares of the company’s stock after selling 578 shares during the period. M&T Bank Corp’s holdings in News were worth $491,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of NWSA. Wealth Enhancement Advisory Services LLC bought a new stake in shares of News in the second quarter worth about $289,000. Blue Trust Inc. boosted its stake in News by 185.8% during the second quarter. Blue Trust Inc. now owns 4,435 shares of the company’s stock worth $116,000 after buying an additional 2,883 shares during the period. Fifth Third Bancorp increased its position in News by 3.7% during the second quarter. Fifth Third Bancorp now owns 13,802 shares of the company’s stock valued at $381,000 after acquiring an additional 496 shares during the last quarter. Family Firm Inc. purchased a new stake in shares of News in the second quarter valued at $73,000. Finally, Bank of New York Mellon Corp lifted its holdings 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 worth $78,729,000 after acquiring an additional 61,417 shares during the last quarter. 66.97% of the stock is currently owned by institutional investors.

News Price Performance

Shares of NWSA stock opened at $28.25 on Wednesday. The company’s 50-day simple moving average is $28.06 and its two-hundred day simple moving average is $27.48. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.38 and a quick ratio of 1.26. News Co. has a one year low of $22.65 and a one year high of $30.03. The company has a market capitalization of $16.07 billion, a P/E ratio of 45.56 and a beta of 1.35.

Analyst Ratings Changes

A number of analysts recently weighed in on NWSA shares. Loop Capital increased their price objective on shares of News from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Guggenheim increased their price target on News from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, StockNews.com lowered News from a “buy” rating to a “hold” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, News currently has a consensus rating of “Moderate Buy” and an average price target of $40.33.

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.