News Co. (NASDAQ:NWSA) Short Interest Update

News Co. (NASDAQ:NWSA) was the recipient of a large drop in short interest in the month of 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 trading volume of 2,300,000 shares, the days-to-cover ratio is presently 2.6 days.

Analyst Ratings Changes

Several brokerages recently commented on NWSA. Loop Capital boosted their price target on News from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. StockNews.com downgraded shares of News from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. increased their price objective on shares of News from $34.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Finally, Guggenheim boosted their target price on News from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.67.

Hedge Funds Weigh In On News

Large investors have recently modified their holdings of the business. International Assets Investment Management LLC acquired a new position in News in the 2nd quarter valued at about $26,000. Acadian Asset Management LLC raised its position in News by 95.1% in 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 in the last quarter. Brooklyn Investment Group purchased a new position in News in the third quarter worth approximately $39,000. Covestor Ltd grew its holdings in News by 125.8% during the 1st quarter. Covestor Ltd now owns 1,727 shares of the company’s stock worth $45,000 after acquiring an additional 962 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in shares of News in the 2nd quarter valued at approximately $46,000. Institutional investors and hedge funds own 66.97% of the company’s stock.

News Trading Down 1.7 %

NASDAQ:NWSA traded down $0.49 on Friday, hitting $28.62. The stock had a trading volume of 3,945,455 shares, compared to its average volume of 2,575,923. The company has a fifty day moving average price of $26.84 and a two-hundred day moving average price of $26.94. News has a 1-year low of $20.83 and a 1-year high of $30.03. The company has a quick ratio of 1.26, a current ratio of 1.38 and a debt-to-equity ratio of 0.30. The stock has a market cap of $16.27 billion, a price-to-earnings ratio of 46.16 and a beta of 1.34.

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.