New Media Investment Group (NYSE:NEWM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage currently has a $19.00 price objective on the stock. Zacks Investment Research‘s target price suggests a potential upside of 14.46% from the stock’s previous close.

According to Zacks, “New Media Investment Group, Inc. is an online advertising and digital marketing company. The company’s core products include daily newspapers; weekly newspapers; locally focused Websites; mobile sites and yellow page directories. Its print and online products provide local market news and information that covers various topics, such as local news and politics, community and regional events, youth sports, opinion and editorial pages, and local schools. It also invests in diversified portfolio of local media assets. New Media Investment Group Inc. is based in New York. “

Separately, BidaskClub raised shares of New Media Investment Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 14th.

Shares of New Media Investment Group (NYSE:NEWM) traded up $0.19 on Wednesday, hitting $16.60. 125,600 shares of the stock were exchanged, compared to its average volume of 216,767. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 1.84. New Media Investment Group has a fifty-two week low of $11.87 and a fifty-two week high of $17.62. The stock has a market cap of $883.46, a PE ratio of -79.05 and a beta of 1.35.

Several institutional investors and hedge funds have recently modified their holdings of NEWM. Schwab Charles Investment Management Inc. increased its stake in shares of New Media Investment Group by 51.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 308,103 shares of the company’s stock worth $4,154,000 after purchasing an additional 104,357 shares in the last quarter. Rhumbline Advisers increased its stake in shares of New Media Investment Group by 8.2% during the 2nd quarter. Rhumbline Advisers now owns 100,873 shares of the company’s stock worth $1,360,000 after purchasing an additional 7,683 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of New Media Investment Group by 68.7% during the 2nd quarter. SG Americas Securities LLC now owns 27,652 shares of the company’s stock worth $373,000 after purchasing an additional 11,256 shares in the last quarter. Legal & General Group Plc increased its stake in shares of New Media Investment Group by 10.0% during the 2nd quarter. Legal & General Group Plc now owns 103,601 shares of the company’s stock worth $1,396,000 after purchasing an additional 9,391 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in shares of New Media Investment Group by 49.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 17,941 shares of the company’s stock worth $242,000 after purchasing an additional 5,928 shares in the last quarter. 77.49% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION WARNING: “New Media Investment Group (NEWM) Stock Rating Upgraded by Zacks Investment Research” was originally reported by Daily Political and is owned by of Daily Political. If you are viewing this piece of content on another publication, it was stolen and republished in violation of United States & international trademark & copyright legislation. The legal version of this piece of content can be read at https://www.dailypolitical.com/2018/01/05/new-media-investment-group-newm-stock-rating-upgraded-by-zacks-investment-research.html.

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.

Receive News & Ratings for New Media Investment Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Media Investment Group and related companies with MarketBeat.com's FREE daily email newsletter.