Quest Partners LLC Has $2.55 Million Position in News Co. (NASDAQ:NWSA)

Quest Partners LLC lifted its holdings in shares of News Co. (NASDAQ:NWSA) by 563,282.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,775 shares of the company’s stock after purchasing an additional 95,758 shares during the quarter. Quest Partners LLC’s holdings in News were worth $2,550,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. 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. Bank of New York Mellon Corp raised its position in shares of News by 2.2% during the second quarter. Bank of New York Mellon Corp now owns 2,855,605 shares of the company’s stock worth $78,729,000 after purchasing an additional 61,417 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of News by 0.5% during the second quarter. The Manufacturers Life Insurance Company now owns 1,317,664 shares of the company’s stock worth $36,328,000 after purchasing an additional 5,930 shares during the period. Swiss National Bank raised its position in shares of News by 1.0% during the third quarter. Swiss National Bank now owns 1,124,375 shares of the company’s stock worth $29,942,000 after purchasing an additional 10,900 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of News by 1.0% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 818,882 shares of the company’s stock worth $21,807,000 after purchasing an additional 8,289 shares during the period. Institutional investors and hedge funds own 66.97% of the company’s stock.

News Stock Down 1.7 %

NWSA stock opened at $28.62 on Monday. 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 business has a 50 day moving average price of $26.84 and a two-hundred day moving average price of $26.96. The company has a market cap of $16.27 billion, a price-to-earnings ratio of 46.16 and a beta of 1.34. News Co. has a twelve month low of $20.83 and a twelve month high of $30.03.

Wall Street Analyst Weigh In

NWSA has been the topic of a number of research analyst reports. Loop Capital raised their price target on 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 News from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Guggenheim increased their price objective on News from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, StockNews.com downgraded 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 given a buy rating to the stock. According to data from MarketBeat, News currently has a consensus 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.