News (NASDAQ:NWSA) Shares Gap Down – Here’s What Happened

News Co. (NASDAQ:NWSA)’s share price gapped down before the market opened 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 trading hands.

Analyst Ratings Changes

A number of research firms have recently weighed in on NWSA. StockNews.com lowered shares of News from a “buy” rating to a “hold” rating in a research note on Monday. Guggenheim lifted their price objective on News from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. upped their target price on shares of News from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Finally, Loop Capital increased their price target on News from $38.00 to $39.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, News presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.67.

News Trading Up 0.7 %

The business’s 50 day simple moving average is $26.75 and its 200 day simple moving average is $26.87. The company has a market capitalization of $16.52 billion, a price-to-earnings ratio of 46.53 and a beta of 1.34. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.38 and a quick ratio of 1.26.

Institutional Trading of News

Large investors have recently made changes to their positions in the stock. International Assets Investment Management LLC acquired a new position in shares of News in the 2nd quarter valued at approximately $26,000. Acadian Asset Management LLC lifted its stake in shares of News by 95.1% in the 2nd quarter. Acadian Asset Management LLC now owns 1,038 shares of the company’s stock worth $28,000 after acquiring an additional 506 shares during the period. Brooklyn Investment Group bought a new stake in shares of News in the 3rd quarter worth approximately $39,000. Covestor Ltd raised its holdings in shares of News by 125.8% during the first quarter. Covestor Ltd now owns 1,727 shares of the company’s stock valued at $45,000 after acquiring an additional 962 shares during the period. Finally, Innealta Capital LLC acquired a new position in News in the 2nd quarter valued at approximately $46,000. Institutional investors and hedge funds own 66.97% of the company’s stock.

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.