Stephens Inc. AR purchased a new stake in shares of New Media Investment Group Inc. (NYSE:NEWM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 17,990 shares of the company’s stock, valued at approximately $243,000.

A number of other hedge funds have also made changes to their positions in the business. Wells Fargo & Company MN lifted its position in New Media Investment Group by 4.6% during the second quarter. Wells Fargo & Company MN now owns 1,420,767 shares of the company’s stock valued at $19,152,000 after buying an additional 62,592 shares in the last quarter. Quinn Opportunity Partners LLC acquired a new position in New Media Investment Group during the second quarter valued at approximately $271,000. OMERS ADMINISTRATION Corp acquired a new position in New Media Investment Group during the second quarter valued at approximately $345,000. Cowen Prime Services LLC lifted its position in New Media Investment Group by 74.9% during the second quarter. Cowen Prime Services LLC now owns 78,200 shares of the company’s stock valued at $1,054,000 after buying an additional 33,500 shares in the last quarter. Finally, Royce & Associates LP lifted its position in New Media Investment Group by 0.5% during the second quarter. Royce & Associates LP now owns 468,100 shares of the company’s stock valued at $6,310,000 after buying an additional 2,200 shares in the last quarter. 75.05% of the stock is currently owned by hedge funds and other institutional investors.

New Media Investment Group Inc. (NYSE NEWM) opened at 14.21 on Friday. The firm’s 50-day moving average is $13.65 and its 200-day moving average is $13.63. New Media Investment Group Inc. has a 12 month low of $11.87 and a 12 month high of $17.19. The firm’s market capitalization is $751.21 million.

New Media Investment Group (NYSE:NEWM) last released 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 firm had revenue of $322.90 million during the quarter, compared to analyst estimates of $320.54 million. During the same quarter in the prior year, the company posted $0.21 EPS. The company’s quarterly revenue was up 2.6% on a year-over-year basis. On average, equities research analysts expect that New Media Investment Group Inc. will post ($0.03) EPS for the current year.

A number of brokerages have weighed in on NEWM. BidaskClub raised shares of New Media Investment Group from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Zacks Investment Research raised shares of New Media Investment Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 29th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. New Media Investment Group has a consensus rating of “Hold” and an average price target of $18.00.

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In other news, CEO Michael Reed acquired 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The shares were purchased at an average price of $13.60 per share, for a total transaction of $272,000.00. Following the completion of the acquisition, the chief executive officer now owns 235,769 shares of the company’s stock, valued at approximately $3,206,458.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.34% of the company’s stock.

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.

Institutional Ownership by Quarter for New Media Investment Group (NYSE:NEWM)

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