Aigen Investment Management LP Makes New Investment in News Co. (NASDAQ:NWSA)

Aigen Investment Management LP acquired a new stake in News Co. (NASDAQ:NWSA) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 22,230 shares of the company’s stock, valued at approximately $592,000.

Several other institutional investors have also modified their holdings of NWSA. International Assets Investment Management LLC acquired a new stake in News in the second quarter valued at $26,000. Acadian Asset Management LLC raised its position in shares of News by 95.1% during the 2nd quarter. Acadian Asset Management LLC now owns 1,038 shares of the company’s stock worth $28,000 after acquiring an additional 506 shares in the last quarter. Covestor Ltd lifted its stake in News by 125.8% during the first quarter. Covestor Ltd now owns 1,727 shares of the company’s stock worth $45,000 after purchasing an additional 962 shares during the last quarter. Innealta Capital LLC acquired a new position in News in the second quarter valued at approximately $46,000. Finally, Family Firm Inc. purchased a new position in News in the second quarter valued at approximately $73,000. 66.97% of the stock is owned by hedge funds and other institutional investors.

News Stock Down 1.6 %

Shares of NASDAQ:NWSA opened at $28.85 on Thursday. 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 stock has a market cap of $16.40 billion, a P/E ratio of 46.53 and a beta of 1.34. News Co. has a 1-year low of $20.81 and a 1-year high of $30.03. The firm has a fifty day moving average price of $26.75 and a 200 day moving average price of $26.87.

Analyst Upgrades and Downgrades

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

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.