New Media Investment Group Inc (NEWM) Shares Sold by BNP Paribas Arbitrage SA

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BNP Paribas Arbitrage SA trimmed its holdings in shares of New Media Investment Group Inc (NYSE:NEWM) by 34.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,982 shares of the company’s stock after selling 9,593 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in New Media Investment Group were worth $308,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in NEWM. Schwab Charles Investment Management Inc. raised its stake in shares of New Media Investment Group by 11.3% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 378,218 shares of the company’s stock worth $6,347,000 after buying an additional 38,338 shares during the period. Teacher Retirement System of Texas acquired a new position in shares of New Media Investment Group during the 4th quarter worth approximately $308,000. Swiss National Bank raised its stake in shares of New Media Investment Group by 5.2% during the 4th quarter. Swiss National Bank now owns 90,762 shares of the company’s stock worth $1,523,000 after buying an additional 4,500 shares during the period. Arizona State Retirement System raised its stake in shares of New Media Investment Group by 224.2% during the 4th quarter. Arizona State Retirement System now owns 89,478 shares of the company’s stock worth $1,501,000 after buying an additional 61,878 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of New Media Investment Group by 17.2% during the 4th quarter. Rhumbline Advisers now owns 120,367 shares of the company’s stock worth $2,020,000 after buying an additional 17,634 shares during the period. 72.25% of the stock is owned by institutional investors and hedge funds.

Shares of New Media Investment Group opened at $18.48 on Friday, MarketBeat.com reports. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.37 and a quick ratio of 1.26. The company has a market cap of $1.13 billion, a PE ratio of 34.22 and a beta of 1.14. New Media Investment Group Inc has a 1-year low of $12.74 and a 1-year high of $19.02.

New Media Investment Group (NYSE:NEWM) last issued its quarterly earnings results on Thursday, May 3rd. The company reported ($0.01) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. New Media Investment Group had a return on equity of 3.42% and a net margin of 0.15%. The firm had revenue of $340.80 million during the quarter, compared to analysts’ expectations of $336.87 million. During the same period in the previous year, the business earned ($0.07) earnings per share. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. sell-side analysts forecast that New Media Investment Group Inc will post 0.83 earnings per share for the current fiscal year.

In other news, CEO Michael Reed purchased 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 10th. The stock was purchased at an average cost of $16.45 per share, for a total transaction of $411,250.00. Following the completion of the transaction, the chief executive officer now owns 270,361 shares of the company’s stock, valued at $4,447,438.45. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.23% of the stock is currently owned by insiders.

Several research analysts have recently weighed in on NEWM shares. TheStreet downgraded New Media Investment Group from a “b-” rating to a “c” rating in a research note on Thursday, May 3rd. Zacks Investment Research raised New Media Investment Group from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Saturday, May 26th. Finally, ValuEngine raised New Media Investment Group from a “hold” rating to a “buy” rating in a research note on Friday, June 15th.

New Media Investment Group Profile

New Media Investment Group Inc invests in, owns, and operates local media assets in the United States. The company's principal products include 142 daily newspapers with total paid circulation of approximately 1.5 million; 326 weekly newspapers with total paid circulation of approximately 318,000 and total free circulation of approximately 2.0 million; 140 shoppers with total circulation of approximately 3.5 million; and 569 locally-focused Websites, including Internet and mobile devices with approximately 290 million page views per month.

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Institutional Ownership by Quarter for New Media Investment Group (NYSE:NEWM)

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