ING Groep NV Grows Stock Holdings in News Co. (NASDAQ:NWSA)

ING Groep NV grew its stake in News Co. (NASDAQ:NWSA) by 815.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 429,598 shares of the company’s stock after purchasing an additional 382,671 shares during the period. ING Groep NV’s holdings in News were worth $11,440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in shares of News in the 2nd quarter valued at approximately $26,000. Acadian Asset Management LLC grew its position in News by 95.1% in the second quarter. Acadian Asset Management LLC now owns 1,038 shares of the company’s stock worth $28,000 after acquiring an additional 506 shares during the period. Covestor Ltd increased its stake in News by 125.8% during the first quarter. Covestor Ltd now owns 1,727 shares of the company’s stock worth $45,000 after acquiring an additional 962 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of News in the 2nd quarter valued at $46,000. Finally, Family Firm Inc. purchased a new position in shares of News during the 2nd quarter worth $73,000. Hedge funds and other institutional investors own 66.97% of the company’s stock.

News Trading Up 0.9 %

Shares of NWSA stock opened at $29.11 on Friday. The stock has a market capitalization of $16.55 billion, a P/E ratio of 46.95 and a beta of 1.34. News Co. has a fifty-two week low of $20.83 and a fifty-two week high of $30.03. 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 50 day moving average price of $26.80 and a 200 day moving average price of $26.89.

Analysts Set New Price Targets

Several analysts recently issued reports on NWSA shares. JPMorgan Chase & Co. boosted their price objective on shares of News from $34.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Loop Capital boosted their price target on shares of News from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Guggenheim lifted their target price on shares of News from $36.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday. Finally, StockNews.com lowered News from a “buy” rating to a “hold” rating in a research report on Monday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently 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.