NEWM has been the subject of several other research reports. Compass Point lowered New Media Investment Group from a buy rating to a neutral rating and cut their price target for the company from $21.00 to $20.00 in a research note on Friday, July 29th. Zacks Investment Research cut New Media Investment Group from a buy rating to a hold rating in a report on Friday, July 29th. TheStreet upgraded New Media Investment Group from a hold rating to a buy rating in a report on Thursday, July 14th. Finally, Citigroup Inc. cut New Media Investment Group from a neutral rating to a sell rating and lowered their price objective for the stock from $17.00 to $13.00 in a report on Wednesday, August 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $18.50.
Shares of New Media Investment Group (NYSE:NEWM) opened at 15.63 on Thursday. The stock has a market capitalization of $695.97 million, a P/E ratio of 9.15 and a beta of 1.23. The stock has a 50 day moving average price of $16.17 and a 200 day moving average price of $16.80. New Media Investment Group has a one year low of $14.25 and a one year high of $20.11.
New Media Investment Group (NYSE:NEWM) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by $0.08. New Media Investment Group had a net margin of 6.09% and a return on equity of 7.07%. The business earned $314.80 million during the quarter, compared to analysts’ expectations of $311.88 million. The business’s revenue was up 5.1% on a year-over-year basis. Equities analysts forecast that New Media Investment Group will post $0.90 earnings per share for the current year.
In related news, major shareholder Leon G. Cooperman bought 30,000 shares of the stock in a transaction dated Thursday, August 25th. The shares were acquired at an average cost of $15.40 per share, for a total transaction of $462,000.00. Following the acquisition, the insider now directly owns 750,000 shares in the company, valued at approximately $11,550,000. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.46% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of NEWM. Teacher Retirement System of Texas boosted its position in New Media Investment Group by 19.2% in the second quarter. Teacher Retirement System of Texas now owns 6,207 shares of the company’s stock worth $112,000 after buying an additional 999 shares in the last quarter. Springbok Capital Management LLC boosted its position in New Media Investment Group by 69.4% in the first quarter. Springbok Capital Management LLC now owns 8,300 shares of the company’s stock worth $138,000 after buying an additional 3,400 shares in the last quarter. Shufro Rose & Co. LLC acquired a new position in New Media Investment Group during the first quarter worth approximately $178,000. Legal & General Group Plc boosted its position in New Media Investment Group by 32.5% in the first quarter. Legal & General Group Plc now owns 10,737 shares of the company’s stock worth $178,000 after buying an additional 2,632 shares in the last quarter. Finally, Mesirow Financial Investment Management US Value Equity acquired a new position in New Media Investment Group during the first quarter worth approximately $181,000. Institutional investors and hedge funds own 77.98% of the company’s stock.
New Media Investment Group Company Profile
New Media Investment Group Inc (New Media) is a holding company. The Company owns, operates and invests in local media assets. It has a focus on owning and acquiring local media assets in small to mid-size markets. The Company is a publisher of locally based print and online media. The Company’s operating segments include Eastern US Publishing, Central US Publishing and Western US Publishing.
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