JPMorgan Chase & Co. Increases Stock Position in News Co. (NASDAQ:NWSA)

JPMorgan Chase & Co. boosted its holdings in News Co. (NASDAQ:NWSA) by 30.3% in the 3rd quarter, Holdings Channel reports. The firm owned 1,458,869 shares of the company’s stock after purchasing an additional 338,958 shares during the period. JPMorgan Chase & Co.’s holdings in News were worth $38,850,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Acadian Asset Management LLC boosted its stake in shares of News by 95.1% during the second quarter. Acadian Asset Management LLC now owns 1,038 shares of the company’s stock worth $28,000 after buying an additional 506 shares during the period. Brooklyn Investment Group acquired a new stake in shares of News in the 3rd quarter worth $39,000. ORG Wealth Partners LLC purchased a new stake in shares of News in the third quarter valued at about $79,000. Wilmington Savings Fund Society FSB acquired a new position in shares of News during the third quarter worth about $85,000. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of News by 1,419.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 5,045 shares of the company’s stock valued at $134,000 after buying an additional 4,713 shares during the period. 66.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NWSA has been the topic of several research analyst reports. StockNews.com upgraded shares of News from a “hold” rating to a “buy” rating in a research report on Thursday, December 26th. Guggenheim boosted their price objective on shares of News from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, Loop Capital reduced their price target on shares of News from $44.00 to $41.00 and set a “buy” rating for the company in a research report on Monday, December 23rd. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $39.33.

News Price Performance

Shares of NASDAQ NWSA opened at $27.55 on Monday. The company has a current ratio of 1.38, a quick ratio of 1.26 and a debt-to-equity ratio of 0.30. The company’s 50-day moving average price is $28.53 and its 200 day moving average price is $27.54. News Co. has a 52 week low of $22.65 and a 52 week high of $30.03. The stock has a market cap of $15.67 billion, a price-to-earnings ratio of 44.44 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.