BidaskClub upgraded shares of New Media Investment Group Inc. (NYSE:NEWM) from a buy rating to a strong-buy rating in a research report released on Tuesday morning.

New Media Investment Group (NEWM) opened at $16.74 on Tuesday. New Media Investment Group has a fifty-two week low of $11.87 and a fifty-two week high of $17.02. The company has a market cap of $885.05, a PE ratio of 44.08 and a beta of 1.31. The company has a quick ratio of 1.74, a current ratio of 1.84 and a debt-to-equity ratio of 0.53.

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The business also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Wednesday, November 8th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 8.84%. This is a positive change from New Media Investment Group’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Tuesday, November 7th. New Media Investment Group’s dividend payout ratio is -704.76%.

Several hedge funds and other institutional investors have recently bought and sold shares of NEWM. BlackRock Inc. raised its position in New Media Investment Group by 2.1% during the second quarter. BlackRock Inc. now owns 6,826,522 shares of the company’s stock valued at $92,021,000 after acquiring an additional 140,486 shares in the last quarter. Goldman Sachs Group Inc. raised its position in New Media Investment Group by 45.3% during the second quarter. Goldman Sachs Group Inc. now owns 149,011 shares of the company’s stock valued at $2,009,000 after acquiring an additional 46,484 shares in the last quarter. Marshall Wace North America L.P. bought a new position in New Media Investment Group during the second quarter valued at approximately $625,000. Schwab Charles Investment Management Inc. raised its position in New Media Investment Group by 51.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 308,103 shares of the company’s stock valued at $4,154,000 after acquiring an additional 104,357 shares in the last quarter. Finally, Citadel Advisors LLC raised its position in New Media Investment Group by 67.0% during the second quarter. Citadel Advisors LLC now owns 430,160 shares of the company’s stock valued at $5,799,000 after acquiring an additional 172,615 shares in the last quarter. 75.15% of the stock is owned by institutional investors and hedge funds.

About New Media Investment Group

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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