New Media Investment Group Inc. (NYSE:NEWM) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

Separately, Zacks Investment Research raised shares of New Media Investment Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 29th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. New Media Investment Group presently has a consensus rating of “Hold” and a consensus price target of $18.00.

New Media Investment Group (NYSE:NEWM) opened at 13.74 on Tuesday. New Media Investment Group has a 1-year low of $11.87 and a 1-year high of $17.19. The firm’s market capitalization is $726.37 million. The firm’s 50-day moving average price is $13.64 and its 200-day moving average price is $13.69.

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 firm had revenue of $322.90 million during the quarter, compared to analysts’ expectations 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 firm’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.21 earnings per share. On average, equities research analysts predict that New Media Investment Group will post ($0.03) EPS for the current fiscal year.

New Media Investment Group announced that its board has approved a stock buyback program on Wednesday, May 17th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to repurchase up to 15.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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In other news, CEO Michael Reed bought 20,000 shares of the stock in a transaction 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 of the company’s stock, valued at $3,206,458.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.34% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of New Media Investment Group during the 2nd quarter valued at $306,000. WINTON GROUP Ltd purchased a new stake in shares of New Media Investment Group during the 2nd quarter valued at $911,000. Piedmont Investment Advisors LLC purchased a new stake in shares of New Media Investment Group during the 2nd quarter valued at $158,000. California State Teachers Retirement System grew its stake in shares of New Media Investment Group by 1.6% during the 2nd quarter. California State Teachers Retirement System now owns 90,666 shares of the company’s stock valued at $1,222,000 after buying an additional 1,400 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of New Media Investment Group by 12.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 39,970 shares of the company’s stock valued at $539,000 after buying an additional 4,469 shares during the period. 75.05% of the stock is owned by 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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