Kentucky Retirement Systems Cuts Stock Position in News Co. (NASDAQ:NWSA)

Kentucky Retirement Systems lessened its stake in News Co. (NASDAQ:NWSA) by 7.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,356 shares of the company’s stock after selling 2,219 shares during the period. Kentucky Retirement Systems’ holdings in News were worth $702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NWSA. Metropolis Capital Ltd grew its stake in News by 8.9% in the third quarter. Metropolis Capital Ltd now owns 6,779,137 shares of the company’s stock valued at $180,528,000 after purchasing an additional 555,789 shares during the last quarter. ING Groep NV grew its stake in shares of News by 815.5% during the third quarter. ING Groep NV now owns 429,598 shares of the company’s stock worth $11,440,000 after acquiring an additional 382,671 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of News by 188.3% during 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. Jane Street Group LLC grew its stake in shares of News by 812.6% during the first quarter. Jane Street Group LLC now owns 229,262 shares of the company’s stock worth $6,002,000 after acquiring an additional 204,141 shares during the last quarter. Finally, Achmea Investment Management B.V. grew its stake in shares of News by 504.7% during the second quarter. Achmea Investment Management B.V. now owns 236,044 shares of the company’s stock worth $6,508,000 after acquiring an additional 197,008 shares during the last quarter. Hedge funds and other institutional investors own 66.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Loop Capital boosted their price target on News from $38.00 to $39.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Guggenheim boosted their price target on News from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. StockNews.com lowered News from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. upped their target price on News from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $38.67.

News Price Performance

Shares of NASDAQ NWSA opened at $28.80 on Wednesday. The business’s 50 day moving average price is $26.93 and its 200 day moving average price is $27.02. The firm has a market cap of $16.38 billion, a P/E ratio of 46.45 and a beta of 1.34. News Co. has a 52 week low of $20.95 and a 52 week high of $30.03. The company has a quick ratio of 1.26, a current ratio of 1.38 and a debt-to-equity ratio of 0.30.

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.