BidaskClub cut shares of New Media Investment Group Inc. (NYSE:NEWM) from a buy rating to a hold rating in a research report report published on Monday, July 24th.
Other analysts have also recently issued research reports about the stock. TheStreet cut shares of New Media Investment Group from a b- rating to a c rating in a research report on Friday, May 5th. Zacks Investment Research upgraded shares of New Media Investment Group from a strong sell rating to a hold rating in a research report on Thursday, June 29th. Finally, Stephens upgraded shares of New Media Investment Group from an equal weight rating to an overweight rating in a research report on Tuesday, May 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $15.50.
New Media Investment Group (NEWM) traded up 1.89% during mid-day trading on Monday, reaching $13.50. The company’s stock had a trading volume of 332,698 shares. New Media Investment Group has a 52 week low of $11.87 and a 52 week high of $17.19. The firm’s 50 day moving average price is $13.58 and its 200 day moving average price is $13.93. The firm’s market capitalization is $713.68 million.
New Media Investment Group (NYSE:NEWM) last issued its 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 business had revenue of $322.90 million for the quarter, compared to the consensus estimate of $320.54 million. New Media Investment Group had a negative net margin of 0.64% and a positive return on equity of 2.22%. The business’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.21 EPS. On average, analysts anticipate that New Media Investment Group will post $0.27 EPS for the current fiscal year.
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New Media Investment Group declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, May 17th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to buy up to 15.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Wednesday, August 9th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 10.37%. The ex-dividend date of this dividend was Monday, August 7th. New Media Investment Group’s dividend payout ratio (DPR) is -1,272.73%.
In related news, CEO Michael Reed bought 20,000 shares of New Media Investment Group stock in a transaction that occurred on Wednesday, August 16th. The stock was purchased at an average cost of $13.60 per share, with a total value of $272,000.00. Following the purchase, the chief executive officer now owns 235,769 shares in the company, valued at $3,206,458.40. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.34% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the company. Gotham Asset Management LLC bought a new position in shares of New Media Investment Group during the first quarter worth $146,000. State of Alaska Department of Revenue raised its position in shares of New Media Investment Group by 77.6% in the second quarter. State of Alaska Department of Revenue now owns 10,481 shares of the company’s stock worth $141,000 after buying an additional 4,581 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of New Media Investment Group by 1,094.4% in the first quarter. Nisa Investment Advisors LLC now owns 10,750 shares of the company’s stock worth $153,000 after buying an additional 9,850 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of New Media Investment Group during the first quarter worth $164,000. Finally, Piedmont Investment Advisors LLC bought a new position in shares of New Media Investment Group during the second quarter worth $158,000. 76.44% of the stock is owned by hedge funds and other institutional investors.
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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