News Corp. (NWS) Receives $18.00 Average Price Target from Analysts
Shares of News Corp. (NASDAQ:NWS) have earned an average rating of “Hold” from the six ratings firms that are covering the stock. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $18.00.
Several equities analysts recently commented on the stock. TheStreet raised shares of News Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, August 9th. Zacks Investment Research lowered shares of News Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, November 1st. Finally, Bank of America Corp. lowered shares of News Corp. from a “neutral” rating to an “underperform” rating in a report on Thursday, October 27th.
Shares of News Corp. (NASDAQ:NWS) opened at 12.10 on Tuesday. The firm has a 50-day moving average of $12.87 and a 200 day moving average of $13.05. The company’s market capitalization is $7.03 billion. News Corp. has a 1-year low of $10.74 and a 1-year high of $15.22.
In other News Corp. news, CFO Bedi Ajay Singh sold 29,857 shares of the stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $14.39, for a total transaction of $429,642.23. Following the completion of the sale, the chief financial officer now owns 33,667 shares of the company’s stock, valued at approximately $484,468.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 39.40% of the company’s stock.
Several large investors have recently bought and sold shares of NWS. Advantus Capital Management Inc boosted its stake in News Corp. by 1.5% in the second quarter. Advantus Capital Management Inc now owns 10,343 shares of the company’s stock valued at $121,000 after buying an additional 148 shares in the last quarter. World Asset Management Inc boosted its stake in News Corp. by 0.3% in the second quarter. World Asset Management Inc now owns 10,860 shares of the company’s stock valued at $127,000 after buying an additional 31 shares in the last quarter. CIBC Asset Management Inc boosted its stake in News Corp. by 6.4% in the second quarter. CIBC Asset Management Inc now owns 11,310 shares of the company’s stock valued at $132,000 after buying an additional 685 shares in the last quarter. Bank of Montreal Can bought a new stake in News Corp. during the second quarter valued at approximately $144,000. Finally, TFS Capital LLC bought a new stake in News Corp. during the second quarter valued at approximately $144,000. 9.63% of the stock is owned by hedge funds and other institutional investors.
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News Corp. Company Profile
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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