Assetmark Inc. Has $619,000 Holdings in News Co. (NASDAQ:NWSA)

Assetmark Inc. reduced its position in News Co. (NASDAQ:NWSA) by 2.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 23,244 shares of the company’s stock after selling 621 shares during the period. Assetmark Inc.’s holdings in News were worth $619,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Mitsubishi UFJ Trust & Banking Corp increased its position in News by 13.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 230,799 shares of the company’s stock worth $6,027,000 after buying an additional 27,324 shares during the last quarter. Bessemer Group Inc. boosted its position in News by 3,107.1% during the first quarter. Bessemer Group Inc. now owns 59,363 shares of the company’s stock valued at $1,555,000 after acquiring an additional 57,512 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of News by 59.6% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 72,078 shares of the company’s stock valued at $1,987,000 after acquiring an additional 26,911 shares in the last quarter. Swedbank AB bought a new position in shares of News in the first quarter valued at approximately $4,300,000. Finally, Bayesian Capital Management LP purchased a new position in shares of News in the 1st quarter worth approximately $1,279,000. 66.97% of the stock is currently owned by institutional investors.

News Trading Down 1.7 %

Shares of NWSA stock opened at $28.62 on Friday. News Co. has a 1 year low of $20.83 and a 1 year 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’s 50 day simple moving average is $26.84 and its two-hundred day simple moving average is $26.92. The company has a market cap of $16.27 billion, a PE ratio of 46.16 and a beta of 1.34.

Wall Street Analysts Forecast Growth

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

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.