New Media Investment Group Inc (NYSE:NEWM) Short Interest Up 20.4% in September

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New Media Investment Group Inc (NYSE:NEWM) was the target of a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 23,070,000 shares, a growth of 20.4% from the August 30th total of 19,160,000 shares. Based on an average trading volume of 1,900,000 shares, the days-to-cover ratio is presently 12.1 days. Approximately 39.1% of the shares of the company are short sold.

In other New Media Investment Group news, CEO Michael Reed purchased 250,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were acquired at an average cost of $8.78 per share, for a total transaction of $2,195,000.00. Following the completion of the acquisition, the chief executive officer now owns 627,361 shares of the company’s stock, valued at approximately $5,508,229.58. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kevin M. Sheehan purchased 15,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were acquired at an average price of $8.76 per share, for a total transaction of $131,400.00. Following the completion of the acquisition, the director now directly owns 48,070 shares of the company’s stock, valued at approximately $421,093.20. The disclosure for this purchase can be found here. Company insiders own 1.82% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of NEWM. Bank of Montreal Can raised its stake in shares of New Media Investment Group by 441.2% in the second quarter. Bank of Montreal Can now owns 6,213 shares of the company’s stock valued at $59,000 after buying an additional 5,065 shares during the period. Magnus Financial Group LLC bought a new stake in shares of New Media Investment Group in the second quarter valued at $107,000. Capital Fund Management S.A. bought a new stake in shares of New Media Investment Group in the second quarter valued at $107,000. NumerixS Investment Technologies Inc bought a new stake in shares of New Media Investment Group in the first quarter valued at $124,000. Finally, Commonwealth Equity Services LLC bought a new stake in shares of New Media Investment Group in the second quarter valued at $131,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

New Media Investment Group stock traded up $0.41 during mid-day trading on Friday, reaching $8.12. 1,139,628 shares of the company’s stock were exchanged, compared to its average volume of 1,617,099. The business’s fifty day simple moving average is $8.80 and its 200 day simple moving average is $9.54. The firm has a market capitalization of $466.30 million, a PE ratio of 29.65 and a beta of 1.15. New Media Investment Group has a one year low of $7.08 and a one year high of $16.25. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 0.81.

New Media Investment Group (NYSE:NEWM) last issued its earnings results on Monday, August 5th. The company reported $0.07 earnings per share (EPS) for the quarter. The firm had revenue of $404.39 million for the quarter. New Media Investment Group had a return on equity of 2.09% and a net margin of 0.05%.

Separately, Citigroup dropped their price target on New Media Investment Group from $14.00 to $11.00 and set a “positive” rating on the stock in a report on Wednesday, August 7th.

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 146 daily newspapers with total paid circulation of approximately 1.5 million; 323 weekly newspapers with total paid circulation of approximately 268,000 and total free circulation of approximately 1.4 million; 132 shoppers with total circulation of approximately 3.1 million; and 581 locally-focused Websites, including Internet and mobile devices with approximately 364 million page views per month.

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