New Media Investment Group Inc. (NEWM) Stake Increased by Rhumbline Advisers

Rhumbline Advisers raised its position in New Media Investment Group Inc. (NYSE:NEWM) by 8.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 100,873 shares of the company’s stock after acquiring an additional 7,683 shares during the period. Rhumbline Advisers owned approximately 0.19% of New Media Investment Group worth $1,360,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Clark Estates Inc. NY acquired a new stake in shares of New Media Investment Group in the 2nd quarter worth $2,898,000. Schwab Charles Investment Management Inc. lifted its stake in shares of New Media Investment Group by 51.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 308,103 shares of the company’s stock worth $4,154,000 after acquiring an additional 104,357 shares during the period. Global X Management Co. LLC lifted its stake in shares of New Media Investment Group by 4.8% in the 2nd quarter. Global X Management Co. LLC now owns 607,657 shares of the company’s stock worth $8,191,000 after acquiring an additional 27,904 shares during the period. Texas Permanent School Fund lifted its stake in shares of New Media Investment Group by 0.8% in the 2nd quarter. Texas Permanent School Fund now owns 39,039 shares of the company’s stock worth $526,000 after acquiring an additional 324 shares during the period. Finally, Great West Life Assurance Co. Can lifted its stake in shares of New Media Investment Group by 5.6% in the 2nd quarter. Great West Life Assurance Co. Can now owns 75,588 shares of the company’s stock worth $1,018,000 after acquiring an additional 4,000 shares during the period. Institutional investors own 75.05% of the company’s stock.

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Shares of New Media Investment Group Inc. (NYSE:NEWM) opened at 14.02 on Thursday. The company has a 50 day moving average of $13.65 and a 200 day moving average of $13.63. New Media Investment Group Inc. has a 52 week low of $11.87 and a 52 week high of $17.19. The firm’s market cap is $741.17 million.

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

Several analysts have recently commented on the stock. BidaskClub cut shares of New Media Investment Group from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th. Zacks Investment Research upgraded shares of New Media Investment Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 29th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company. New Media Investment Group has an average rating of “Hold” and an average price target of $18.00.

In related news, CEO Michael Reed acquired 20,000 shares of New Media Investment Group stock in a transaction that occurred on Wednesday, August 16th. The stock was acquired at an average price of $13.60 per share, with a total value of $272,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 235,769 shares of the company’s stock, valued at approximately $3,206,458.40. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.34% of the stock is currently owned by corporate insiders.

New Media Investment Group Company 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.

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

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