Avala Global LP Cuts Stock Holdings in News Co. (NASDAQ:NWSA)

Avala Global LP decreased its holdings in shares of News Co. (NASDAQ:NWSA) by 38.5% in the 3rd quarter, Holdings Channel reports. The firm owned 1,395,154 shares of the company’s stock after selling 874,646 shares during the period. News comprises 2.4% of Avala Global LP’s investment portfolio, making the stock its 19th largest holding. Avala Global LP’s holdings in News were worth $37,153,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of NWSA. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in News by 1,815.4% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,413,158 shares of the company’s stock worth $37,632,000 after buying an additional 1,339,379 shares in the last quarter. Bank of Montreal Can raised its holdings in News by 230.1% in the third quarter. Bank of Montreal Can now owns 1,092,506 shares of the company’s stock worth $28,951,000 after purchasing an additional 761,524 shares in the last quarter. Metropolis Capital Ltd raised its holdings in News by 8.9% in the third quarter. Metropolis Capital Ltd now owns 6,779,137 shares of the company’s stock worth $180,528,000 after purchasing an additional 555,789 shares in the last quarter. ING Groep NV raised its holdings in News by 815.5% in the third quarter. ING Groep NV now owns 429,598 shares of the company’s stock worth $11,440,000 after purchasing an additional 382,671 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of News by 188.3% in the second quarter. AQR Capital Management LLC now owns 491,123 shares of the company’s stock worth $13,540,000 after acquiring an additional 320,785 shares during the last quarter. Hedge funds and other institutional investors own 66.97% of the company’s stock.

News Stock Up 1.0 %

NWSA stock opened at $29.35 on Monday. News Co. has a fifty-two week low of $21.52 and a fifty-two week high of $30.03. The business’s 50-day moving average is $27.42 and its two-hundred day moving average is $27.26. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.26 and a current ratio of 1.38. The company has a market cap of $16.69 billion, a price-to-earnings ratio of 47.34 and a beta of 1.34.

Analyst Upgrades and Downgrades

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

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.