Verition Fund Management LLC Grows Stake in News Co. (NASDAQ:NWSA)

Verition Fund Management LLC increased its holdings in News Co. (NASDAQ:NWSA) by 1,224.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 324,297 shares of the company’s stock after purchasing an additional 299,807 shares during the period. Verition Fund Management LLC owned 0.06% of News worth $8,636,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. HBK Investments L P boosted its position in shares of News by 34.3% during the third quarter. HBK Investments L P now owns 1,110,000 shares of the company’s stock worth $29,559,000 after acquiring an additional 283,500 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in News by 9.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 16,371 shares of the company’s stock worth $436,000 after purchasing an additional 1,400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of News by 26.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 180,283 shares of the company’s stock valued at $4,801,000 after purchasing an additional 37,702 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of News in the third quarter worth about $1,551,000. Finally, Blueshift Asset Management LLC purchased a new stake in shares of News in the third quarter worth about $1,275,000. 66.97% of the stock is owned by hedge funds and other institutional investors.

News Trading Up 1.0 %

NWSA stock opened at $29.35 on Monday. The firm’s fifty day simple moving average is $27.42 and its two-hundred day simple moving average is $27.26. The stock has a market capitalization of $16.69 billion, a price-to-earnings ratio of 47.34 and a beta of 1.34. 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 Co. has a twelve month low of $21.52 and a twelve month high of $30.03.

Analyst Ratings Changes

Several equities analysts have weighed in on NWSA shares. Guggenheim raised their price target on News from $36.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Loop Capital boosted their price target on shares of News from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. JPMorgan Chase & Co. increased their price objective on shares of News from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Finally, StockNews.com downgraded shares of News from a “buy” rating to a “hold” rating in a report on Monday, November 11th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.67.

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.