According to Zacks, “New Media Investment Group, Inc. is an online advertising and digital marketing company. The company’s core products include daily newspapers; weekly newspapers; locally focused Websites; mobile sites and yellow page directories. Its print and online products provide local market news and information that covers various topics, such as local news and politics, community and regional events, youth sports, opinion and editorial pages, and local schools. It also invests in diversified portfolio of local media assets. New Media Investment Group Inc. is based in New York. “
A number of other analysts have also recently issued reports on the company. Citigroup Inc. cut New Media Investment Group from a neutral rating to a sell rating and decreased their target price for the company from $17.00 to $13.00 in a research report on Wednesday, August 24th. TheStreet cut New Media Investment Group from a buy rating to a hold rating in a research report on Friday, June 24th. Barrington Research decreased their price objective on New Media Investment Group from $22.00 to $19.00 and set an outperform rating for the company in a research report on Monday, August 15th. Finally, Compass Point cut New Media Investment Group from a buy rating to a neutral rating and decreased their price objective for the stock from $21.00 to $20.00 in a research report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $18.50.
Shares of New Media Investment Group (NYSE:NEWM) opened at 15.97 on Friday. The stock has a market capitalization of $711.11 million, a PE ratio of 9.34 and a beta of 1.23. New Media Investment Group has a 12 month low of $14.25 and a 12 month high of $20.11. The company’s 50 day moving average price is $16.22 and its 200 day moving average price is $16.81.
New Media Investment Group (NYSE:NEWM) last announced its earnings results on Thursday, July 28th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by $0.08. The firm earned $314.80 million during the quarter, compared to analyst estimates of $311.88 million. New Media Investment Group had a net margin of 6.09% and a return on equity of 7.07%. New Media Investment Group’s revenue was up 5.1% on a year-over-year basis. Equities analysts anticipate that New Media Investment Group will post $0.90 earnings per share for the current fiscal year.
In other New Media Investment Group news, major shareholder Leon G. Cooperman purchased 30,000 shares of New Media Investment Group stock in a transaction dated Thursday, August 25th. The stock was acquired at an average cost of $15.40 per share, with a total value of $462,000.00. Following the acquisition, the insider now directly owns 750,000 shares of the company’s stock, valued at $11,550,000. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 3.46% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the stock. Teacher Retirement System of Texas boosted its stake 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 valued at $112,000 after buying an additional 999 shares in the last quarter. Springbok Capital Management LLC increased 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 valued at $138,000 after buying an additional 3,400 shares during the last quarter. Shufro Rose & Co. LLC purchased a new position in New Media Investment Group during the first quarter valued at $178,000. Legal & General Group Plc increased 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 valued at $178,000 after buying an additional 2,632 shares during the last quarter. Finally, Mesirow Financial Investment Management US Value Equity purchased a new position in New Media Investment Group during the first quarter valued at $181,000. 77.98% of the stock is owned by institutional investors and hedge funds.
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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