Global X Management Co. LLC increased its position in New Media Investment Group Inc. (NYSE:NEWM) by 4.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 607,657 shares of the company’s stock after buying an additional 27,904 shares during the period. Global X Management Co. LLC’s holdings in New Media Investment Group were worth $8,191,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of NEWM. Dimensional Fund Advisors LP boosted its position in shares of New Media Investment Group by 26.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,216,856 shares of the company’s stock worth $19,458,000 after buying an additional 255,622 shares in the last quarter. Norges Bank bought a new position in shares of New Media Investment Group during the fourth quarter worth $15,702,000. Teachers Advisors LLC boosted its position in shares of New Media Investment Group by 40.4% in the fourth quarter. Teachers Advisors LLC now owns 99,379 shares of the company’s stock worth $1,589,000 after buying an additional 28,590 shares in the last quarter. Highbridge Capital Management LLC bought a new position in shares of New Media Investment Group during the fourth quarter worth $413,000. Finally, Louisiana State Employees Retirement System boosted 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 in the last quarter. 76.10% of the stock is currently owned by hedge funds and other institutional investors.

New Media Investment Group Inc. (NYSE NEWM) opened at 13.63 on Friday. The stock’s market cap is $720.55 million. The firm’s 50-day moving average price is $13.61 and its 200 day moving average price is $14.01. New Media Investment Group Inc. has a 1-year low of $11.87 and a 1-year high of $17.19.

New Media Investment Group (NYSE:NEWM) last released its earnings results on Thursday, July 27th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of $0.18 by $0.59. New Media Investment Group had a negative net margin of 0.64% and a positive return on equity of 2.22%. The company had revenue of $322.90 million during the quarter, compared to analyst estimates of $320.54 million. During the same period in the previous year, the company posted $0.21 EPS. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. Equities research analysts expect that New Media Investment Group Inc. will post $0.27 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Wednesday, August 9th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 10.27%. The ex-dividend date is Monday, August 7th. New Media Investment Group’s dividend payout ratio is currently -1,272.73%.

New Media Investment Group announced that its board has approved a share buyback program on Wednesday, May 17th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 15.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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A number of equities analysts recently weighed in on NEWM shares. Zacks Investment Research raised New Media Investment Group from a “sell” rating to a “hold” rating in a research note on Wednesday, April 26th. Stephens raised New Media Investment Group from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, May 2nd. TheStreet cut New Media Investment Group from a “b-” rating to a “c” rating in a research note on Friday, May 5th. Finally, BidaskClub cut New Media Investment Group from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus 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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