News Corp. (NWS) Upgraded to “Hold” by Zacks Investment Research
According to Zacks, “News Corp. provides media and information services. It is focused on creating and distributing authoritative and engaging content to consumers. The company’s business comprises of media, which includes news and information services, sports programming primarily in Australia, digital real estate services, book publishing, digital education and pay-TV distribution primarily in Australia. It operates primarily in the United States, Australia and the United Kingdom. News Corp. is headquartered in New York. “
NWS has been the topic of a number of other research reports. Bank of America Corp. cut shares of News Corp. from a neutral rating to an underperform rating in a research note on Thursday, October 27th. TheStreet cut shares of News Corp. from a buy rating to a hold rating in a research note on Thursday, October 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $18.00.
News Corp. (NASDAQ:NWS) opened at 12.10 on Friday. News Corp. has a 52 week low of $10.73 and a 52 week high of $15.22. The stock’s 50 day moving average price is $12.87 and its 200-day moving average price is $13.05. The company’s market capitalization is $7.03 billion.
In other News Corp. news, CFO Bedi Ajay Singh sold 29,857 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $14.39, for a total value of $429,642.23. Following the sale, the chief financial officer now owns 33,667 shares in the company, valued at approximately $484,468.13. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 39.40% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in NWS. Emerald Acquisition Ltd. bought a new stake in shares of News Corp. during the second quarter valued at approximately $4,596,000. Cornerstone Capital Management Holdings LLC. boosted its stake in shares of News Corp. by 1,557.6% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 384,823 shares of the company’s stock valued at $5,471,000 after buying an additional 361,608 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of News Corp. by 12.9% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,873,993 shares of the company’s stock valued at $40,868,000 after buying an additional 327,643 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of News Corp. by 201.7% in the third quarter. Principal Financial Group Inc. now owns 485,759 shares of the company’s stock valued at $6,907,000 after buying an additional 324,754 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of News Corp. by 119.5% in the third quarter. Wells Fargo & Company MN now owns 579,635 shares of the company’s stock valued at $8,241,000 after buying an additional 315,521 shares during the last quarter. Institutional investors and hedge funds own 9.63% of the company’s stock.
About News Corp.
News Corporation is a diversified media and information services company. The Company operates in five segments: News and Information Services, Cable Network Programming, Digital Real Estate Services, Book Publishing, and Other. The Company’s business consists of range of media, including news and information services, sports programming in Australia, digital real estate services, book publishing, and pay-television (TV) distribution in Australia, that are distributed under the brands, including The Wall Street Journal, Dow Jones, Herald Sun, The Sun, The Times, HarperCollins Publishers, FOX SPORTS Australia and realestate.com.au.
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