News (NASDAQ:NWSA) Downgraded to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of News (NASDAQ:NWSA) from a buy rating to a hold rating in a report issued on Friday morning.

Several other research analysts also recently commented on the company. Loop Capital decreased their price objective on News from $44.00 to $41.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. Guggenheim lifted their price target on News from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, Citigroup began coverage on News in a research note on Friday, January 10th. They set a “buy” rating and a $36.00 price objective for the company. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $38.50.

News Price Performance

NWSA stock opened at $27.43 on Friday. The firm has a market cap of $15.60 billion, a P/E ratio of 44.24 and a beta of 1.35. The firm’s fifty day moving average is $28.45 and its 200 day moving average is $27.54. News has a 52 week low of $22.65 and a 52 week high of $30.03. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.26 and a current ratio of 1.38.

Institutional Investors Weigh In On News

Several institutional investors and hedge funds have recently modified their holdings of the stock. Ballentine Partners LLC raised its stake in News by 3.8% in the fourth quarter. Ballentine Partners LLC now owns 11,576 shares of the company’s stock worth $319,000 after buying an additional 422 shares in the last quarter. Clarius Group LLC bought a new position in shares of News in the 4th quarter worth approximately $201,000. HB Wealth Management LLC purchased a new position in shares of News in the 4th quarter valued at approximately $209,000. Avanza Fonder AB bought a new stake in shares of News during the fourth quarter valued at approximately $697,000. Finally, Assenagon Asset Management S.A. grew its stake in News by 374.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,160,045 shares of the company’s stock worth $59,488,000 after purchasing an additional 1,704,944 shares during the period. 66.97% of the stock is owned by hedge funds and other institutional investors.

About News

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.