Stevens Capital Management LP trimmed its position in shares of New Media Investment Group Inc. (NYSE:NEWM) by 71.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,830 shares of the company’s stock after selling 29,025 shares during the quarter. Stevens Capital Management LP’s holdings in New Media Investment Group were worth $159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NEWM. BlackRock Inc. grew its holdings in shares of New Media Investment Group by 2.1% in the second quarter. BlackRock Inc. now owns 6,826,522 shares of the company’s stock worth $92,021,000 after acquiring an additional 140,486 shares during the period. Nationwide Fund Advisors increased its position in New Media Investment Group by 56.3% during the second quarter. Nationwide Fund Advisors now owns 58,242 shares of the company’s stock valued at $785,000 after acquiring an additional 20,972 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in New Media Investment Group by 1.5% in the second quarter. Ameriprise Financial Inc. now owns 292,683 shares of the company’s stock valued at $3,947,000 after acquiring an additional 4,231 shares during the period. TIAA CREF Investment Management LLC lifted its holdings in New Media Investment Group by 44.3% in the second quarter. TIAA CREF Investment Management LLC now owns 241,391 shares of the company’s stock valued at $3,254,000 after acquiring an additional 74,107 shares during the period. Finally, WBI Investments Inc. bought a new position in New Media Investment Group in the second quarter valued at about $166,000. 75.05% of the stock is currently owned by hedge funds and other institutional investors.

Shares of New Media Investment Group Inc. (NEWM) opened at 14.91 on Tuesday. New Media Investment Group Inc. has a 12 month low of $11.87 and a 12 month high of $17.19. The company’s market cap is $788.22 million. The stock’s 50 day moving average is $13.89 and its 200-day moving average is $13.62.

New Media Investment Group (NYSE:NEWM) last posted its quarterly earnings results on Thursday, July 27th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.59). New Media Investment Group had a negative net margin of 0.64% and a positive return on equity of 2.22%. The company had revenue of $322.90 million during the quarter, compared to analyst estimates of $320.54 million. During the same period in the prior year, the business earned $0.21 EPS. New Media Investment Group’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, equities analysts forecast that New Media Investment Group Inc. will post ($0.03) EPS for the current year.

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Several research analysts have issued reports on NEWM shares. Zacks Investment Research raised New Media Investment Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 29th. BidaskClub downgraded New Media Investment Group from a “buy” rating to a “hold” rating in a research note on Monday, July 24th.

In other news, CEO Michael Reed bought 20,000 shares of New Media Investment Group stock in a transaction that occurred on Wednesday, August 16th. The shares were purchased at an average price of $13.60 per share, with a total value of $272,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 235,769 shares in the company, valued at $3,206,458.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.34% of the stock is currently owned by corporate insiders.

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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