News Co. (NASDAQ:NWSA) Short Interest Down 21.5% in October

News Co. (NASDAQ:NWSA) was the target of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 5,890,000 shares, a drop of 21.5% from the October 15th total of 7,500,000 shares. Currently, 1.6% of the company’s stock are short sold. Based on an average daily trading volume, of 2,300,000 shares, the days-to-cover ratio is presently 2.6 days.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Loop Capital raised their target price on shares of News from $38.00 to $39.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. StockNews.com downgraded News from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Guggenheim raised 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, JPMorgan Chase & Co. upped their price objective on News from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, News currently has an average rating of “Moderate Buy” and an average price target of $38.67.

News Stock Down 1.7 %

NASDAQ:NWSA opened at $28.62 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.38 and a quick ratio of 1.26. News has a one year low of $20.83 and a one year high of $30.03. The firm’s 50 day simple moving average is $26.84 and its 200 day simple moving average is $26.94. The company has a market cap of $16.27 billion, a PE ratio of 46.16 and a beta of 1.34.

Institutional Investors Weigh In On News

Several large investors have recently modified their holdings of NWSA. International Assets Investment Management LLC acquired a new position in shares of News during the 2nd quarter valued at $26,000. Acadian Asset Management LLC raised its holdings in shares of News by 95.1% during the second quarter. Acadian Asset Management LLC now owns 1,038 shares of the company’s stock valued at $28,000 after purchasing an additional 506 shares during the period. Brooklyn Investment Group bought a new position in shares of News during the 3rd quarter worth about $39,000. Covestor Ltd grew its stake in shares of News by 125.8% in the 1st quarter. Covestor Ltd now owns 1,727 shares of the company’s stock valued at $45,000 after buying an additional 962 shares during the period. Finally, Innealta Capital LLC bought a new stake in News in the 2nd quarter valued at about $46,000. 66.97% of the stock is currently owned by institutional investors and hedge funds.

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.