News Corp (NWS) Position Raised by Bank of Montreal Can
Bank of Montreal Can lifted its stake in shares of News Corp (NASDAQ:NWS) by 64.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,873 shares of the company’s stock after purchasing an additional 20,415 shares during the quarter. Bank of Montreal Can’s holdings in News were worth $704,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of News during the second quarter valued at about $179,000. Paloma Partners Management Co bought a new stake in shares of News during the second quarter valued at about $234,000. Russell Investments Group Ltd. raised its stake in shares of News by 24.3% during the first quarter. Russell Investments Group Ltd. now owns 26,930 shares of the company’s stock valued at $432,000 after purchasing an additional 5,267 shares in the last quarter. Strs Ohio bought a new stake in shares of News during the second quarter valued at about $532,000. Finally, Canada Pension Plan Investment Board raised its stake in shares of News by 24.8% during the second quarter. Canada Pension Plan Investment Board now owns 103,959 shares of the company’s stock valued at $1,648,000 after purchasing an additional 20,659 shares in the last quarter. Institutional investors and hedge funds own 9.36% of the company’s stock.
Shares of NASDAQ NWS opened at $13.85 on Friday. News Corp has a fifty-two week low of $12.57 and a fifty-two week high of $17.70. The company has a current ratio of 1.26, a quick ratio of 1.15 and a debt-to-equity ratio of 0.11. The stock has a market cap of $8.10 billion, a P/E ratio of 25.25 and a beta of 1.52.
NWS has been the topic of a number of recent analyst reports. Goldman Sachs Group upgraded shares of News from a “neutral” rating to a “buy” rating in a research note on Tuesday, October 9th. BidaskClub upgraded shares of News from a “sell” rating to a “hold” rating in a research note on Tuesday, October 16th.
News Corporation, a media and information services company, creates and distributes content for consumers and businesses worldwide. It operates in five segments: News and Information Services, Book Publishing, Digital Real Estate Services, Subscription Video Services, and Other. The company distributes content and data products, including The Wall Street Journal, Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires, Barron's, MarketWatch, and DJX through various media channels, such as newspapers, newswires, Websites, mobile device applications, tablets and e-book readers, newsletters, magazines, proprietary databases, live journalism, video, and podcasts.
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