Martingale Asset Management L P Acquires Shares of 126,652 New Media Investment Group Inc (NEWM)

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Martingale Asset Management L P acquired a new stake in New Media Investment Group Inc (NYSE:NEWM) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 126,652 shares of the company’s stock, valued at approximately $2,341,000. Martingale Asset Management L P owned approximately 0.21% of New Media Investment Group at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of NEWM. Louisiana State Employees Retirement System boosted its holdings in New Media Investment Group by 14.4% in the second quarter. Louisiana State Employees Retirement System now owns 27,000 shares of the company’s stock valued at $499,000 after purchasing an additional 3,400 shares during the period. Texas Permanent School Fund boosted its holdings in New Media Investment Group by 10.4% in the second quarter. Texas Permanent School Fund now owns 38,914 shares of the company’s stock valued at $719,000 after purchasing an additional 3,670 shares during the period. Rhumbline Advisers lifted its holdings in New Media Investment Group by 3.1% during the 1st quarter. Rhumbline Advisers now owns 124,105 shares of the company’s stock worth $2,127,000 after buying an additional 3,738 shares during the last quarter. Arizona State Retirement System lifted its holdings in New Media Investment Group by 4.6% during the 2nd quarter. Arizona State Retirement System now owns 87,811 shares of the company’s stock worth $1,623,000 after buying an additional 3,833 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its holdings in New Media Investment Group by 6.3% during the 1st quarter. Great West Life Assurance Co. Can now owns 77,011 shares of the company’s stock worth $1,320,000 after buying an additional 4,534 shares during the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

In other New Media Investment Group news, CEO Michael Reed purchased 32,000 shares of the firm’s stock in a transaction on Monday, August 13th. The stock was bought at an average cost of $15.74 per share, with a total value of $503,680.00. Following the acquisition, the chief executive officer now directly owns 302,361 shares of the company’s stock, valued at $4,759,162.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.23% of the stock is owned by insiders.

Shares of NYSE NEWM opened at $15.89 on Thursday. The stock has a market cap of $949.01 million, a price-to-earnings ratio of 22.17 and a beta of 1.08. The company has a quick ratio of 1.21, a current ratio of 1.32 and a debt-to-equity ratio of 0.52. New Media Investment Group Inc has a 1 year low of $13.32 and a 1 year high of $19.10.

New Media Investment Group (NYSE:NEWM) last announced its quarterly earnings results on Thursday, August 2nd. The company reported $0.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.04). The business had revenue of $388.80 million for the quarter, compared to analysts’ expectations of $367.84 million. New Media Investment Group had a return on equity of 5.60% and a net margin of 2.46%. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period last year, the firm earned ($0.41) earnings per share. equities research analysts expect that New Media Investment Group Inc will post 0.83 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 21st. Shareholders of record on Monday, August 13th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 9.31%. This is an increase from New Media Investment Group’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, August 10th. New Media Investment Group’s payout ratio is 274.07%.

NEWM has been the subject of a number of recent analyst reports. TheStreet downgraded New Media Investment Group from a “b-” rating to a “c” rating in a report 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 price target for the company in a report on Saturday, May 26th. Finally, ValuEngine raised New Media Investment Group from a “hold” rating to a “buy” rating in a report on Friday, June 15th.

About New Media Investment Group

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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