Arizona State Retirement System raised its position in New Media Investment Group Inc (NYSE:NEWM) by 224.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 89,478 shares of the company’s stock after purchasing an additional 61,878 shares during the period. Arizona State Retirement System’s holdings in New Media Investment Group were worth $1,501,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Meeder Asset Management Inc. increased its stake in shares of New Media Investment Group by 391.0% in the 4th quarter. Meeder Asset Management Inc. now owns 8,072 shares of the company’s stock valued at $136,000 after acquiring an additional 6,428 shares in the last quarter. Aperio Group LLC increased its stake in shares of New Media Investment Group by 27.0% in the 3rd quarter. Aperio Group LLC now owns 18,813 shares of the company’s stock valued at $278,000 after acquiring an additional 3,995 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in shares of New Media Investment Group in the 4th quarter valued at $308,000. Macquarie Group Ltd. bought a new stake in shares of New Media Investment Group in the 3rd quarter valued at $334,000. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of New Media Investment Group in the 3rd quarter valued at $361,000. Hedge funds and other institutional investors own 80.12% of the company’s stock.

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Several analysts have recently weighed in on the stock. TheStreet upgraded shares of New Media Investment Group from a “c” rating to a “b-” rating in a research note on Wednesday, February 28th. Zacks Investment Research lowered shares of New Media Investment Group from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st.

Shares of New Media Investment Group Inc (NEWM) opened at $17.44 on Thursday. The firm has a market cap of $928.16, a price-to-earnings ratio of -193.78 and a beta of 1.17. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.20. New Media Investment Group Inc has a one year low of $11.87 and a one year high of $17.69.

New Media Investment Group (NYSE:NEWM) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.18. The business had revenue of $394.43 million during the quarter, compared to analyst estimates of $364.88 million. New Media Investment Group had a negative net margin of 0.07% and a positive return on equity of 4.18%. New Media Investment Group’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.31 EPS. analysts expect that New Media Investment Group Inc will post 0.69 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Wednesday, March 14th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, March 13th. This represents a $1.48 dividend on an annualized basis and a yield of 8.49%. New Media Investment Group’s dividend payout ratio (DPR) is presently -1,644.44%.

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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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