Y Intercept Hong Kong Ltd Makes New Investment in News Co. (NASDAQ:NWSA)

Y Intercept Hong Kong Ltd purchased a new stake in shares of News Co. (NASDAQ:NWSA) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 15,732 shares of the company’s stock, valued at approximately $419,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Wealth Enhancement Advisory Services LLC acquired a new position in News during the second quarter valued at approximately $289,000. Blue Trust Inc. raised its holdings in News by 185.8% in the 2nd quarter. Blue Trust Inc. now owns 4,435 shares of the company’s stock worth $116,000 after acquiring an additional 2,883 shares during the period. Fifth Third Bancorp increased its stake in shares of News by 3.7% in the second quarter. Fifth Third Bancorp now owns 13,802 shares of the company’s stock worth $381,000 after purchasing an additional 496 shares during the period. Family Firm Inc. acquired a new position in shares of News during the 2nd quarter worth about $73,000. Finally, Bank of New York Mellon Corp grew its holdings in 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 valued at $78,729,000 after buying an additional 61,417 shares during the last quarter. Institutional investors and hedge funds own 66.97% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on NWSA. Loop Capital increased their price objective on News from $41.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, December 9th. StockNews.com upgraded shares of News from a “hold” rating to a “buy” rating in a report on Tuesday, December 10th. Finally, Guggenheim increased their target price on shares of News from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $40.33.

News Stock Performance

News stock opened at $28.65 on Tuesday. News Co. 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 current ratio of 1.38 and a quick ratio of 1.26. The stock has a fifty day moving average price of $28.06 and a two-hundred day moving average price of $27.48. The firm has a market capitalization of $16.29 billion, a P/E ratio of 46.21 and a beta of 1.35.

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.