Citigroup Initiates Coverage on News (NASDAQ:NWSA)

Citigroup began coverage on shares of News (NASDAQ:NWSA) in a research report sent to investors on Friday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $36.00 price objective on the stock.

A number of other equities analysts also recently commented on the stock. Loop Capital reduced their price objective on shares of News from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. Guggenheim increased their price target on News from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, StockNews.com upgraded News from a “hold” rating to a “buy” rating in a research note on Thursday, December 26th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, News currently has a consensus rating of “Buy” and a consensus price target of $38.50.

News Price Performance

Shares of NWSA opened at $26.98 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.38 and a debt-to-equity ratio of 0.30. News has a twelve month low of $22.65 and a twelve month high of $30.03. The stock has a market capitalization of $15.34 billion, a P/E ratio of 43.52 and a beta of 1.35. The company has a 50 day moving average of $28.56 and a 200-day moving average of $27.54.

Hedge Funds Weigh In On News

Several large investors have recently modified their holdings of NWSA. Victory Capital Management Inc. grew its stake in News by 3.5% in the 2nd quarter. Victory Capital Management Inc. now owns 218,796 shares of the company’s stock valued at $6,032,000 after buying an additional 7,464 shares during the last quarter. Acadian Asset Management LLC boosted its stake 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 during the period. Choreo LLC acquired a new position in News in the 2nd quarter valued at $240,000. Daiwa Securities Group Inc. lifted its holdings in shares of News by 6.4% during the second quarter. Daiwa Securities Group Inc. now owns 46,824 shares of the company’s stock worth $1,291,000 after buying an additional 2,812 shares in the last quarter. Finally, Headlands Technologies LLC boosted its position in shares of News by 27.5% in the second quarter. Headlands Technologies LLC now owns 16,220 shares of the company’s stock valued at $447,000 after acquiring an additional 3,499 shares during the period. 66.97% of the stock is owned by institutional investors.

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.