Clark Estates Inc. NY purchased a new stake in shares of New Media Investment Group Inc. (NYSE:NEWM) during the second quarter, Holdings Channel reports. The fund purchased 215,000 shares of the company’s stock, valued at approximately $2,898,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of NEWM. Highbridge Capital Management LLC increased its stake in shares of New Media Investment Group by 39.9% in the first quarter. Highbridge Capital Management LLC now owns 36,094 shares of the company’s stock valued at $513,000 after buying an additional 10,285 shares during the period. Selz Capital LLC purchased a new stake in shares of New Media Investment Group during the first quarter valued at about $1,151,000. Norges Bank purchased a new stake in shares of New Media Investment Group during the fourth quarter valued at about $15,702,000. Swiss National Bank increased its stake in shares of New Media Investment Group by 3.1% in the first quarter. Swiss National Bank now owns 86,262 shares of the company’s stock valued at $1,226,000 after buying an additional 2,600 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake 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 valued at $19,458,000 after buying an additional 255,622 shares during the period. 76.10% of the stock is currently owned by institutional investors.

New Media Investment Group Inc. (NEWM) opened at 13.32 on Friday. The stock’s market capitalization is $704.16 million. The stock’s 50 day moving average is $13.60 and its 200 day moving average is $14.00. New Media Investment Group Inc. has a 12-month low of $11.87 and a 12-month high of $17.19.

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

New Media Investment Group announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, May 17th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 15.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Wednesday, August 9th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Monday, August 7th. This represents a $1.40 annualized dividend and a yield of 10.51%. New Media Investment Group’s payout ratio is currently -1,272.73%.

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NEWM has been the topic of several recent analyst reports. Stephens raised shares of New Media Investment Group from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, May 2nd. Zacks Investment Research downgraded shares of New Media Investment Group from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd. BidaskClub raised shares of New Media Investment Group from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Finally, TheStreet downgraded shares of New Media Investment Group from a “b-” rating to a “c” rating in a research note on Friday, May 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. New Media Investment Group currently has a consensus rating of “Hold” and a consensus price target of $16.67.

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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