Zacks Investment Research upgraded shares of New Media Investment Group (NYSE:NEWM) from a sell rating to a hold rating in a research report released on Saturday.

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. “

Several other brokerages also recently issued reports on NEWM. TheStreet raised shares of New Media Investment Group from a c rating to a b- rating in a report on Monday, July 2nd. ValuEngine downgraded shares of New Media Investment Group from a buy rating to a hold rating in a report on Thursday, August 2nd.

Shares of NYSE:NEWM traded down $0.40 during midday trading on Friday, reaching $15.28. 416,518 shares of the company’s stock were exchanged, compared to its average volume of 327,455. The company has a market capitalization of $921.28 million, a price-to-earnings ratio of 28.30 and a beta of 1.01. New Media Investment Group has a 12 month low of $14.93 and a 12 month high of $19.10. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.21 and a current ratio of 1.32.

New Media Investment Group (NYSE:NEWM) last released its quarterly earnings data on Thursday, August 2nd. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). The business had revenue of $388.80 million for the quarter, compared to the consensus estimate of $367.84 million. New Media Investment Group had a return on equity of 5.60% and a net margin of 2.46%. New Media Investment Group’s revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.41) earnings per share. Sell-side analysts forecast that New Media Investment Group will post 0.72 EPS for the current year.

In related news, CEO Michael Reed bought 32,000 shares of the company’s stock in a transaction on Monday, August 13th. The stock was bought at an average cost of $15.74 per share, with a total value of $503,680.00. Following the completion of the purchase, the chief executive officer now owns 302,361 shares in the company, valued at approximately $4,759,162.14. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.23% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC acquired a new stake in shares of New Media Investment Group during the 2nd quarter worth approximately $167,000. Commonwealth Equity Services LLC acquired a new stake in shares of New Media Investment Group during the 1st quarter worth approximately $177,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of New Media Investment Group during the 2nd quarter worth approximately $236,000. Cubist Systematic Strategies LLC acquired a new stake in shares of New Media Investment Group during the 2nd quarter worth approximately $275,000. Finally, Advisors Asset Management Inc. acquired a new stake in shares of New Media Investment Group during the 2nd quarter worth approximately $2,918,000. 86.39% of the stock is owned by institutional investors.

About New Media Investment Group

New Media Investment Group Inc invests in, owns, and operates local media assets in the United States. The company's principal products include 142 daily newspapers with total paid circulation of approximately 1.5 million; 326 weekly newspapers with total paid circulation of approximately 318,000 and total free circulation of approximately 2.0 million; 140 shoppers with total circulation of approximately 3.5 million; and 569 locally-focused Websites, including Internet and mobile devices with approximately 290 million page views per month.

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