News Co. (NASDAQ:NWSA) Short Interest Down 21.5% in October

News Co. (NASDAQ:NWSA) was the target of a significant drop in short interest in October. As of October 31st, there was short interest totalling 5,890,000 shares, a drop of 21.5% from the October 15th total of 7,500,000 shares. Currently, 1.6% of the shares of the stock are sold short. Based on an average daily volume of 2,300,000 shares, the short-interest ratio is presently 2.6 days.

Analyst Ratings Changes

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

News Trading Down 1.7 %

Shares of NWSA traded down $0.49 during trading hours on Friday, hitting $28.62. 3,945,455 shares of the stock were exchanged, compared to its average volume of 2,654,405. News has a fifty-two week low of $20.83 and a fifty-two week high of $30.03. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.38 and a quick ratio of 1.26. The business has a 50-day moving average of $26.84 and a 200-day moving average of $26.92. The firm has a market capitalization of $16.27 billion, a P/E ratio of 46.16 and a beta of 1.34.

Institutional Trading of News

Large investors have recently made changes to their positions in the company. Seelaus Asset Management LLC boosted its holdings in News by 3.8% during the 3rd quarter. Seelaus Asset Management LLC now owns 11,399 shares of the company’s stock worth $304,000 after acquiring an additional 417 shares during the last quarter. US Bancorp DE boosted its stake in News by 2.4% in the first quarter. US Bancorp DE now owns 18,406 shares of the company’s stock worth $482,000 after buying an additional 424 shares in the last quarter. Fifth Third Bancorp grew its position in News by 3.7% during the 2nd quarter. Fifth Third Bancorp now owns 13,802 shares of the company’s stock worth $381,000 after acquiring an additional 496 shares during the last quarter. Acadian Asset Management LLC raised its position in News by 95.1% during the 2nd quarter. Acadian Asset Management LLC now owns 1,038 shares of the company’s stock valued at $28,000 after purchasing an additional 506 shares during the last quarter. Finally, CWM LLC boosted its position in News by 7.8% during the 2nd quarter. CWM LLC now owns 7,339 shares of the company’s stock valued at $202,000 after acquiring an additional 532 shares in the last quarter. 66.97% of the stock is currently owned by institutional investors and hedge funds.

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.