Victory Capital Management Inc. Grows Position in New Media Investment Group Inc. (NEWM)

Victory Capital Management Inc. increased its position in shares of New Media Investment Group Inc. (NYSE:NEWM) by 8.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,643 shares of the company’s stock after purchasing an additional 2,664 shares during the quarter. Victory Capital Management Inc. owned 0.07% of New Media Investment Group worth $480,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in New Media Investment Group by 32,660.2% in the first quarter. BlackRock Inc. now owns 6,686,036 shares of the company’s stock valued at $95,009,000 after acquiring an additional 6,665,627 shares during the period. Vanguard Group Inc. lifted its holdings in New Media Investment Group by 4.8% in the first quarter. Vanguard Group Inc. now owns 4,766,528 shares of the company’s stock valued at $67,732,000 after acquiring an additional 220,340 shares during the period. Dimensional Fund Advisors LP lifted its holdings in New Media Investment Group by 27.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,552,046 shares of the company’s stock valued at $22,055,000 after acquiring an additional 335,190 shares during the period. Bank of New York Mellon Corp lifted its holdings in New Media Investment Group by 4.6% in the first quarter. Bank of New York Mellon Corp now owns 1,524,687 shares of the company’s stock valued at $21,666,000 after acquiring an additional 67,479 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in New Media Investment Group by 32.9% in the first quarter. Wells Fargo & Company MN now owns 1,358,175 shares of the company’s stock valued at $19,298,000 after acquiring an additional 336,109 shares during the period. 75.05% of the stock is owned by hedge funds and other institutional investors.

In related news, CEO Michael Reed acquired 20,000 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was bought at an average cost of $13.60 per share, with a total value of $272,000.00. Following the transaction, the chief executive officer now owns 235,769 shares of the company’s stock, valued at $3,206,458.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.34% of the stock is currently owned by company insiders.

Shares of New Media Investment Group Inc. (NYSE NEWM) opened at 13.83 on Tuesday. The stock’s market capitalization is $731.12 million. The stock has a 50 day moving average price of $13.65 and a 200-day moving average price of $13.64. New Media Investment Group Inc. has a 52-week low of $11.87 and a 52-week high of $17.19.

New Media Investment Group (NYSE:NEWM) last posted its quarterly earnings data on Thursday, July 27th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.59). New Media Investment Group had a positive return on equity of 2.22% and a negative net margin of 0.64%. The company had revenue of $322.90 million for the quarter, compared to analyst estimates of $320.54 million. During the same period in the previous year, the business posted $0.21 earnings per share. The firm’s revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts anticipate that New Media Investment Group Inc. will post ($0.03) EPS for the current fiscal year.

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A number of research analysts have issued reports on NEWM shares. BidaskClub raised New Media Investment Group from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research raised New Media Investment Group from a “strong sell” rating to a “hold” rating in a report on Thursday, June 29th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $18.00.

New Media Investment Group Profile

New Media Investment Group Inc is a holding company. The Company owns, operates and invests in local media assets. The Company’s segments include Eastern US Publishing, Central US Publishing, Western US Publishing and BridgeTower. It focuses on owning and acquiring local media assets in small to mid-size markets.

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

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