Victory Capital Management Inc. Lowers Stock Holdings in News Co. (NASDAQ:NWSA)

Victory Capital Management Inc. reduced its position in shares of News Co. (NASDAQ:NWSA) by 0.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 217,619 shares of the company’s stock after selling 1,177 shares during the period. Victory Capital Management Inc.’s holdings in News were worth $5,795,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Aigen Investment Management LP purchased a new position in shares of News during the third quarter worth $592,000. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of News by 1.0% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 818,882 shares of the company’s stock worth $21,807,000 after buying an additional 8,289 shares during the period. GSA Capital Partners LLP boosted its position in shares of News by 894.3% during the third quarter. GSA Capital Partners LLP now owns 98,401 shares of the company’s stock worth $2,620,000 after buying an additional 88,504 shares during the period. Entropy Technologies LP raised its stake in shares of News by 658.4% in the third quarter. Entropy Technologies LP now owns 86,174 shares of the company’s stock valued at $2,295,000 after acquiring an additional 74,811 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of News by 2.9% in the third quarter. Principal Financial Group Inc. now owns 435,388 shares of the company’s stock valued at $11,594,000 after acquiring an additional 12,345 shares in the last quarter. 66.97% of the stock is currently owned by hedge funds and other institutional investors.

News Stock Down 0.2 %

News stock opened at $29.49 on Friday. News Co. has a 1-year low of $21.52 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 has a market cap of $16.77 billion, a PE ratio of 47.52 and a beta of 1.34. The stock’s fifty day moving average is $27.06 and its two-hundred day moving average is $27.06.

Analysts Set New Price Targets

Several analysts have recently issued reports on NWSA shares. Loop Capital increased their price objective on News from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. StockNews.com cut 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 News from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Finally, Guggenheim increased their price objective on News from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. 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.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.