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

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, ValuEngine lowered shares of New Media Investment Group from a buy rating to a hold rating in a research report on Thursday, August 2nd.

NYSE NEWM traded down $0.04 during mid-day trading on Wednesday, reaching $14.16. 442,011 shares of the stock were exchanged, compared to its average volume of 535,617. New Media Investment Group has a 1-year low of $13.90 and a 1-year high of $19.10. The firm has a market cap of $874.91 million, a P/E ratio of 26.22 and a beta of 1.07. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.25.

New Media Investment Group (NYSE:NEWM) last announced its earnings results on Wednesday, October 31st. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.24). New Media Investment Group had a return on equity of 4.17% and a net margin of 2.08%. The firm had revenue of $380.42 million for the quarter, compared to analyst estimates of $398.45 million. During the same quarter last year, the business posted ($0.04) EPS. The firm’s revenue was up 19.9% compared to the same quarter last year. As a group, equities analysts predict that New Media Investment Group will post 0.72 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Monday, November 12th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.52 dividend on an annualized basis and a yield of 10.73%. This is a positive change from New Media Investment Group’s previous quarterly dividend of $0.37. New Media Investment Group’s dividend payout ratio (DPR) is 274.07%.

In related news, COO Kirk A. Davis purchased 6,750 shares of the firm’s stock in a transaction on Thursday, November 8th. The shares were bought at an average price of $14.20 per share, for a total transaction of $95,850.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Reed purchased 32,000 shares of the firm’s stock in a transaction on Monday, August 13th. The stock was bought at an average price of $15.74 per share, for a total transaction of $503,680.00. Following the acquisition, the chief executive officer now owns 302,361 shares in the company, valued at $4,759,162.14. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 128,750 shares of company stock worth $1,883,230. 2.23% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. boosted its holdings in shares of New Media Investment Group by 31.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 560,212 shares of the company’s stock valued at $10,353,000 after purchasing an additional 133,488 shares during the last quarter. Miller Value Partners LLC boosted its holdings in shares of New Media Investment Group by 18.0% in the 2nd quarter. Miller Value Partners LLC now owns 262,835 shares of the company’s stock valued at $4,857,000 after purchasing an additional 40,000 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of New Media Investment Group by 63.1% in the 2nd quarter. Renaissance Technologies LLC now owns 884,800 shares of the company’s stock valued at $16,351,000 after purchasing an additional 342,400 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of New Media Investment Group in the 2nd quarter valued at $275,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of New Media Investment Group by 11.4% in the 2nd quarter. Wells Fargo & Company MN now owns 1,686,904 shares of the company’s stock valued at $31,173,000 after purchasing an additional 172,837 shares during the last quarter. Institutional investors own 86.20% of the company’s stock.

New Media Investment Group Company Profile

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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