Janney Montgomery Scott LLC boosted its stake in shares of New Media Investment Group Inc. (NYSE:NEWM) by 12.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,212 shares of the company’s stock after buying an additional 11,126 shares during the period. Janney Montgomery Scott LLC’s holdings in New Media Investment Group were worth $1,324,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in NEWM. Nwam LLC increased its stake in shares of New Media Investment Group by 7.6% in the first quarter. Nwam LLC now owns 52,646 shares of the company’s stock valued at $748,000 after buying an additional 3,736 shares in the last quarter. LSV Asset Management increased its stake in shares of New Media Investment Group by 3.0% in the first quarter. LSV Asset Management now owns 160,500 shares of the company’s stock valued at $2,280,000 after buying an additional 4,700 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in shares of New Media Investment Group by 6.8% in the first quarter. Great West Life Assurance Co. Can now owns 71,588 shares of the company’s stock valued at $1,017,000 after buying an additional 4,580 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of 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 buying an additional 336,109 shares in the last quarter. Finally, North Star Investment Management Corp. increased its stake in shares of New Media Investment Group by 372,314.3% in the first quarter. North Star Investment Management Corp. now owns 52,138 shares of the company’s stock valued at $741,000 after buying an additional 52,124 shares in the last quarter. Institutional investors own 76.10% of the company’s stock.

Shares of New Media Investment Group Inc. (NYSE:NEWM) opened at 13.63 on Friday. 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 $13.61 and its 200-day moving average is $14.01. The stock’s market cap is $720.55 million.

New Media Investment Group (NYSE:NEWM) last announced its quarterly earnings results on Thursday, July 27th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.59. The firm had revenue of $322.90 million during 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 business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.21 EPS. On average, equities research analysts anticipate that New Media Investment Group Inc. will post $0.27 earnings per share for the current year.

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

New Media Investment Group declared that its Board of Directors has initiated a share buyback program on Wednesday, May 17th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 15.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

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Several brokerages have recently commented on NEWM. Zacks Investment Research upgraded shares of New Media Investment Group from a “sell” rating to a “hold” rating in a report on Wednesday, April 26th. BidaskClub downgraded shares of New Media Investment Group from a “buy” rating to a “hold” rating in a report on Monday, July 24th. TheStreet downgraded shares of New Media Investment Group from a “b-” rating to a “c” rating in a report on Friday, May 5th. Finally, Stephens upgraded shares of New Media Investment Group from an “equal weight” rating to an “overweight” rating in a report on Tuesday, May 2nd. One research 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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