Retirement Systems of Alabama Reduces Stake in News Co. (NASDAQ:NWSA)

Retirement Systems of Alabama decreased its position in shares of News Co. (NASDAQ:NWSA) by 1.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 82,413 shares of the company’s stock after selling 1,235 shares during the quarter. Retirement Systems of Alabama’s holdings in News were worth $2,195,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC acquired a new position in News in the 2nd quarter valued at about $26,000. Acadian Asset Management LLC lifted its holdings in 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 acquiring an additional 506 shares during the last quarter. Brooklyn Investment Group purchased a new position in News in the third quarter worth approximately $39,000. Innealta Capital LLC acquired a new stake in News during the second quarter worth $46,000. Finally, Family Firm Inc. purchased a new stake in News in the second quarter valued at $73,000. Hedge funds and other institutional investors own 66.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NWSA. StockNews.com downgraded News from a “buy” rating to a “hold” rating in a research report on Wednesday. Guggenheim lifted their price target on shares of News from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, Loop Capital upped their price objective on shares of News from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, December 9th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.33.

News Stock Performance

NASDAQ NWSA opened at $27.86 on Friday. The company has a market cap of $15.84 billion, a P/E ratio of 44.94 and a beta of 1.35. News Co. has a 1-year low of $22.65 and a 1-year high of $30.03. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.38 and a quick ratio of 1.26. The stock has a 50-day moving average of $28.21 and a two-hundred day moving average of $27.50.

News 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.