Dimensional Fund Advisors LP boosted its position in New Media Investment Group Inc. (NYSE:NEWM) by 27.5% during the first quarter, Holdings Channel reports. The firm owned 1,552,046 shares of the company’s stock after buying an additional 335,190 shares during the period. Dimensional Fund Advisors LP’s holdings in New Media Investment Group were worth $22,055,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. 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 period. Quantbot Technologies LP purchased a new position in shares of New Media Investment Group during the first quarter worth about $164,000. Mason Street Advisors LLC raised its position in shares of New Media Investment Group by 9.3% in the first quarter. Mason Street Advisors LLC now owns 12,504 shares of the company’s stock worth $178,000 after buying an additional 1,060 shares during the period. UBS Asset Management Americas Inc. purchased a new position in shares of New Media Investment Group during the first quarter worth about $214,000. Finally, Louisiana State Employees Retirement System raised its position in shares of New Media Investment Group by 3.3% in the first quarter. Louisiana State Employees Retirement System now owns 21,800 shares of the company’s stock worth $310,000 after buying an additional 700 shares during the period. Institutional investors and hedge funds own 76.10% of the company’s stock.

Shares of New Media Investment Group Inc. (NEWM) opened at 13.77 on Thursday. New Media Investment Group Inc. has a 12-month low of $11.87 and a 12-month high of $17.19. The company’s 50-day moving average is $13.60 and its 200-day moving average is $14.01. The stock’s market cap is $727.95 million.

New Media Investment Group (NYSE:NEWM) last released its earnings results on Thursday, July 27th. The company reported ($0.41) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.59. The company had revenue of $322.90 million for the quarter, compared to analyst estimates 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 firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.21 EPS. On average, analysts expect that New Media Investment Group Inc. will post $0.27 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Wednesday, August 9th will be paid a dividend of $0.35 per share. The ex-dividend date is Monday, August 7th. This represents a $1.40 annualized dividend and a yield of 10.09%. New Media Investment Group’s payout ratio is -1,272.73%.

New Media Investment Group declared that its board has approved a stock buyback plan on Wednesday, May 17th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 15.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

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A number of research analysts have recently issued reports on the stock. BidaskClub lowered shares of New Media Investment Group from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research upgraded shares of New Media Investment Group from a “sell” rating to a “hold” rating in a research note on Wednesday, April 26th. Stephens upgraded shares of New Media Investment Group from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, May 2nd. Finally, TheStreet lowered shares of New Media Investment Group from a “b-” rating to a “c” rating in a research note on Friday, May 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. New Media Investment Group currently has an average rating of “Hold” and an average target price of $16.67.

About New Media Investment Group

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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