Alambic Investment Management L.P. lessened its holdings in shares of New Media Investment Group Inc (NYSE:NEWM) by 29.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 95,072 shares of the company’s stock after selling 39,737 shares during the period. Alambic Investment Management L.P. owned 0.16% of New Media Investment Group worth $1,757,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Commonwealth Equity Services LLC bought a new stake in shares of New Media Investment Group during the first quarter worth $177,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of New Media Investment Group during the first quarter worth $196,000. Koch Industries Inc. bought a new stake in shares of New Media Investment Group during the first quarter worth $208,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in New Media Investment Group in the second quarter valued at about $236,000. Finally, Element Capital Management LLC bought a new position in New Media Investment Group in the first quarter valued at about $294,000. Institutional investors own 86.14% of the company’s stock.
New Media Investment Group stock opened at $15.69 on Friday. The stock has a market capitalization of $956.85 million, a P/E ratio of 29.06 and a beta of 1.01. New Media Investment Group Inc has a 12-month low of $13.32 and a 12-month high of $19.10. The company has a current ratio of 1.32, a quick ratio of 1.21 and a debt-to-equity ratio of 0.52.
New Media Investment Group (NYSE:NEWM) last posted its quarterly earnings results on Thursday, August 2nd. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.04). The firm had revenue of $388.80 million during the quarter, compared to the consensus estimate of $367.84 million. New Media Investment Group had a net margin of 2.46% and a return on equity of 5.60%. New Media Investment Group’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.41) EPS. equities analysts predict that New Media Investment Group Inc will post 0.83 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 21st. Investors of record on Monday, August 13th were issued a $0.37 dividend. This is a boost from New Media Investment Group’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, August 10th. This represents a $1.48 annualized dividend and a yield of 9.43%. New Media Investment Group’s dividend payout ratio (DPR) is currently 274.07%.
In other news, CEO Michael Reed purchased 32,000 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The shares were acquired at an average price of $15.74 per share, for a total transaction of $503,680.00. Following the completion of the acquisition, the chief executive officer now directly owns 302,361 shares in the company, valued at $4,759,162.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.23% of the stock is owned by company insiders.
Several research firms recently issued reports on NEWM. TheStreet upgraded New Media Investment Group from a “c” rating to a “b-” rating in a report on Monday, July 2nd. Zacks Investment Research upgraded New Media Investment Group from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Friday, June 15th. Finally, ValuEngine upgraded New Media Investment Group from a “hold” rating to a “buy” rating in a report on Friday, June 15th.
New Media Investment Group Company 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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