Short Interest in News Co. (NASDAQ:NWSA) Decreases By 14.0%

News Co. (NASDAQ:NWSA) was the recipient of a significant decline in short interest in December. As of December 15th, there was short interest totalling 4,670,000 shares, a decline of 14.0% from the November 30th total of 5,430,000 shares. Based on an average daily volume of 2,380,000 shares, the short-interest ratio is presently 2.0 days. Currently, 1.2% of the company’s stock are short sold.

News Price Performance

Shares of News stock traded up $0.05 during trading on Tuesday, reaching $27.53. The company’s stock had a trading volume of 376,208 shares, compared to its average volume of 2,616,958. The business has a 50 day moving average price of $28.41 and a 200-day moving average price of $27.52. The company has a market capitalization of $15.66 billion, a P/E ratio of 44.40 and a beta of 1.35. The company has a quick ratio of 1.26, a current ratio of 1.38 and a debt-to-equity ratio of 0.30. News has a 12-month low of $22.65 and a 12-month high of $30.03.

Analysts Set New Price Targets

NWSA has been the topic of a number of analyst reports. Loop Capital cut their price target on News from $44.00 to $41.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. Guggenheim boosted their target price on News from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, StockNews.com upgraded shares of News from a “hold” rating to a “buy” rating in a research note on Thursday, December 26th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, News has a consensus rating of “Buy” and an average target price of $39.33.

Hedge Funds Weigh In On News

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. iA Global Asset Management Inc. acquired a new stake in News in the second quarter valued at $262,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in News by 2.6% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 41,181 shares of the company’s stock valued at $1,135,000 after acquiring an additional 1,039 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of News in the second quarter valued at about $26,000. National Bank of Canada FI grew its position in shares of News by 23.9% in the second quarter. National Bank of Canada FI now owns 103,971 shares of the company’s stock valued at $2,837,000 after purchasing an additional 20,031 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of News by 3.5% during the 2nd quarter. Victory Capital Management Inc. now owns 218,796 shares of the company’s stock worth $6,032,000 after purchasing an additional 7,464 shares in the last quarter. 66.97% of the stock is owned by institutional investors and hedge funds.

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.