Gotham Asset Management LLC cut its position in shares of New Media Inv Group (NYSE:NEWM) by 67.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,548 shares of the company’s stock after selling 24,290 shares during the period. Gotham Asset Management LLC’s holdings in New Media Inv Group were worth $194,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. BlackRock Inc. raised its stake in New Media Inv Group by 2.0% during the fourth quarter. BlackRock Inc. now owns 7,080,138 shares of the company’s stock worth $118,806,000 after purchasing an additional 136,161 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of New Media Inv Group by 15.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,288,336 shares of the company’s stock valued at $33,845,000 after acquiring an additional 309,474 shares during the period. Wells Fargo & Company MN raised its stake in shares of New Media Inv Group by 2.0% in the 3rd quarter. Wells Fargo & Company MN now owns 1,448,678 shares of the company’s stock valued at $21,425,000 after acquiring an additional 27,911 shares during the period. Acadian Asset Management LLC raised its stake in shares of New Media Inv Group by 859.7% in the 4th quarter. Acadian Asset Management LLC now owns 591,686 shares of the company’s stock valued at $9,928,000 after acquiring an additional 530,035 shares during the period. Finally, Millennium Management LLC raised its stake in shares of New Media Inv Group by 59.9% in the 4th quarter. Millennium Management LLC now owns 478,754 shares of the company’s stock valued at $8,033,000 after acquiring an additional 179,300 shares during the period. 80.12% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently issued reports on NEWM shares. TheStreet raised shares of New Media Inv Group from a “c” rating to a “b-” rating in a research note on Wednesday, February 28th. Zacks Investment Research raised shares of New Media Inv Group from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Wednesday, January 3rd.
New Media Inv Group (NYSE:NEWM) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.18. The business had revenue of $394.43 million for the quarter, compared to the consensus estimate of $364.88 million. New Media Inv Group had a negative net margin of 0.07% and a positive return on equity of 4.18%. The business’s revenue was up 18.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.31 EPS. research analysts forecast that New Media Inv Group will post 0.69 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 22nd. Stockholders of record on Wednesday, March 14th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 9.08%. The ex-dividend date was Tuesday, March 13th. New Media Inv Group’s dividend payout ratio (DPR) is 274.07%.
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New Media Inv 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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