Wahed Invest LLC Has $246,000 Stake in News Co. (NASDAQ:NWSA)

Wahed Invest LLC boosted its stake in shares of News Co. (NASDAQ:NWSA) by 10.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,238 shares of the company’s stock after acquiring an additional 860 shares during the quarter. Wahed Invest LLC’s holdings in News were worth $246,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of NWSA. Whale Rock Capital Management LLC bought a new stake in shares of News during the third quarter worth $44,585,000. State Street Corp boosted its holdings in News by 6.1% during the third quarter. State Street Corp now owns 25,799,596 shares of the company’s stock worth $689,397,000 after buying an additional 1,476,224 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in News by 1,815.4% during 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 during the last quarter. Bank of Montreal Can raised its position in shares of News by 230.1% during 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 during the period. Finally, Metropolis Capital Ltd raised its position in shares of News by 8.9% during 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 during the period. 66.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

News Trading Down 0.6 %

NASDAQ NWSA opened at $29.35 on Friday. The business’s 50-day moving average price is $27.73 and its two-hundred day moving average price is $27.37. News Co. has a 12 month low of $21.65 and a 12 month high of $30.03. The firm has a market capitalization of $16.69 billion, a PE ratio of 47.34 and a beta of 1.35. The company has a current ratio of 1.38, a quick ratio of 1.26 and a debt-to-equity ratio of 0.30.

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.