M&T Bank Corp Sells 578 Shares of News Co. (NASDAQ:NWSA)

M&T Bank Corp cut its stake in News Co. (NASDAQ:NWSA) by 3.0% during the third quarter, HoldingsChannel reports. The fund owned 18,418 shares of the company’s stock after selling 578 shares during the quarter. M&T Bank Corp’s holdings in News were worth $491,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in NWSA. International Assets Investment Management LLC purchased a new position in News in the second quarter valued at about $26,000. Acadian Asset Management LLC boosted its holdings 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 valued at $28,000 after buying an additional 506 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of News in the 3rd quarter worth approximately $39,000. Innealta Capital LLC purchased a new stake in News during the second quarter valued at approximately $46,000. Finally, Family Firm Inc. acquired a new stake in News in the second quarter valued at approximately $73,000. 66.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NWSA has been the topic of a number of recent analyst reports. Loop Capital upped their price target on News from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Guggenheim increased their price target on News from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, StockNews.com lowered News from a “buy” rating to a “hold” rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, News currently has an average rating of “Moderate Buy” and an average target price of $40.33.

News Stock Performance

Shares of NWSA stock opened at $28.25 on Wednesday. The business has a fifty day moving average of $28.06 and a 200 day moving average of $27.48. 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 firm has a market capitalization of $16.07 billion, a price-to-earnings ratio of 45.56 and a beta of 1.35.

About News

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.