BNP Paribas Arbitrage SA raised its stake in shares of New Media Investment Group Inc. (NYSE:NEWM) by 49.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,941 shares of the company’s stock after acquiring an additional 5,928 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in New Media Investment Group were worth $242,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NEWM. BlackRock Inc. lifted its holdings in shares of New Media Investment Group by 32,660.2% during the 1st quarter. BlackRock Inc. now owns 6,686,036 shares of the company’s stock valued at $95,009,000 after purchasing an additional 6,665,627 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of New Media Investment Group by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 4,766,528 shares of the company’s stock valued at $67,732,000 after purchasing an additional 220,340 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of New Media Investment Group by 27.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,552,046 shares of the company’s stock valued at $22,055,000 after purchasing an additional 335,190 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of New Media Investment Group by 4.6% during the 1st quarter. Bank of New York Mellon Corp now owns 1,524,687 shares of the company’s stock valued at $21,666,000 after purchasing an additional 67,479 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of New Media Investment Group by 14.2% during the 1st quarter. State Street Corp now owns 1,231,617 shares of the company’s stock valued at $17,500,000 after purchasing an additional 153,300 shares during the last quarter. 75.05% of the stock is currently owned by institutional investors and hedge funds.

In other news, CEO Michael Reed bought 20,000 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was purchased at an average price of $13.60 per share, for a total transaction of $272,000.00. Following the completion of the purchase, the chief executive officer now owns 235,769 shares in the company, valued at approximately $3,206,458.40. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.34% of the company’s stock.

Shares of New Media Investment Group Inc. (NYSE:NEWM) opened at 14.21 on Friday. New Media Investment Group Inc. has a one year low of $11.87 and a one year high of $17.19. The stock’s 50 day moving average price is $13.65 and its 200 day moving average price is $13.63. The stock’s market cap is $751.21 million.

New Media Investment Group (NYSE:NEWM) last issued its earnings results on Thursday, July 27th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.59). The firm had revenue of $322.90 million for the quarter, compared to analyst estimates 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 posted $0.21 EPS. Analysts forecast that New Media Investment Group Inc. will post ($0.03) earnings per share for the current year.

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NEWM has been the subject of several analyst reports. BidaskClub lowered New Media Investment Group from a “buy” rating to a “hold” rating in a report on Tuesday, September 12th. Zacks Investment Research upgraded New Media Investment Group from a “strong sell” rating to a “hold” rating in a report on Thursday, June 29th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. New Media Investment Group currently has a consensus rating of “Hold” and an average target price of $18.00.

New Media Investment Group 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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