News Co. (NASDAQ:NWSA) Short Interest Update

News Co. (NASDAQ:NWSA) was the target of a large drop in short interest in October. As of October 31st, there was short interest totalling 5,890,000 shares, a drop of 21.5% from the October 15th total of 7,500,000 shares. Based on an average trading volume of 2,300,000 shares, the days-to-cover ratio is presently 2.6 days. Currently, 1.6% of the company’s stock are short sold.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NWSA shares. JPMorgan Chase & Co. increased 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. Loop Capital raised their price target on shares of News from $38.00 to $39.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. StockNews.com downgraded shares of News from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Guggenheim lifted their target price on shares of News from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $38.67.

Institutional Trading of News

A number of hedge funds have recently bought and sold shares of NWSA. Barclays PLC lifted its position in News by 124.0% in the third quarter. Barclays PLC now owns 14,713,823 shares of the company’s stock valued at $391,832,000 after purchasing an additional 8,144,856 shares during the last quarter. Whale Rock Capital Management LLC purchased a new position in shares of News in the third quarter worth $44,585,000. State Street Corp raised its holdings in News by 6.1% during the 3rd quarter. State Street Corp now owns 25,799,596 shares of the company’s stock valued at $689,397,000 after buying an additional 1,476,224 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in News by 1,815.4% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,413,158 shares of the company’s stock valued at $37,632,000 after buying an additional 1,339,379 shares during the period. Finally, Bank of Montreal Can boosted its position in News by 230.1% during the 3rd quarter. Bank of Montreal Can now owns 1,092,506 shares of the company’s stock valued at $28,951,000 after buying an additional 761,524 shares during the period. Institutional investors own 66.97% of the company’s stock.

News Price Performance

Shares of NASDAQ NWSA opened at $28.62 on Friday. The firm has a market capitalization of $16.27 billion, a P/E ratio of 46.16 and a beta of 1.34. The company has a quick ratio of 1.26, a current ratio of 1.38 and a debt-to-equity ratio of 0.30. The stock’s 50-day simple moving average is $26.84 and its two-hundred day simple moving average is $26.94. News has a twelve month low of $20.83 and a twelve month high of $30.03.

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.