News (NASDAQ:NWSA) Shares Gap Down – Should You Sell?

News Co. (NASDAQ:NWSA)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $29.33, but opened at $28.66. News shares last traded at $28.85, with a volume of 79,435 shares changing hands.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NWSA. JPMorgan Chase & Co. upped their price target on News from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. StockNews.com cut News from a “buy” rating to a “hold” rating in a research note on Monday. Loop Capital increased their target price on News from $38.00 to $39.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, Guggenheim lifted their price target on shares of News from $36.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday. One equities research 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, News has a consensus rating of “Moderate Buy” and a consensus target price of $38.67.

News Price Performance

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 has a market cap of $16.52 billion, a P/E ratio of 46.53 and a beta of 1.34. The firm’s fifty day moving average price is $26.75 and its 200-day moving average price is $26.87.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Seelaus Asset Management LLC increased its position in shares of News by 3.8% in the 3rd quarter. Seelaus Asset Management LLC now owns 11,399 shares of the company’s stock valued at $304,000 after acquiring an additional 417 shares during the period. US Bancorp DE raised its position in shares of News by 2.4% during the 1st quarter. US Bancorp DE now owns 18,406 shares of the company’s stock valued at $482,000 after buying an additional 424 shares during the period. Fifth Third Bancorp increased its holdings in News by 3.7% in the 2nd quarter. Fifth Third Bancorp now owns 13,802 shares of the company’s stock valued at $381,000 after purchasing an additional 496 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of News by 95.1% in the second quarter. Acadian Asset Management LLC now owns 1,038 shares of the company’s stock valued at $28,000 after purchasing an additional 506 shares in the last quarter. Finally, CWM LLC increased its holdings in News by 7.8% during the 2nd quarter. CWM LLC now owns 7,339 shares of the company’s stock worth $202,000 after purchasing an additional 532 shares during the period. 66.97% of the stock is owned by hedge funds and other institutional investors.

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.