Rhumbline Advisers Acquires 20,911 Shares of New Media Investment Group Inc (NYSE:NEWM)

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Rhumbline Advisers increased its holdings in shares of New Media Investment Group Inc (NYSE:NEWM) by 12.1% in the third quarter, Holdings Channel.com reports. The firm owned 194,433 shares of the company’s stock after purchasing an additional 20,911 shares during the quarter. Rhumbline Advisers’ holdings in New Media Investment Group were worth $1,713,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in New Media Investment Group by 10.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 690,318 shares of the company’s stock worth $6,517,000 after purchasing an additional 65,413 shares in the last quarter. Cooperman Leon G increased its stake in New Media Investment Group by 39.1% during the 2nd quarter. Cooperman Leon G now owns 3,536,400 shares of the company’s stock worth $33,384,000 after purchasing an additional 994,000 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in New Media Investment Group by 13.5% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 989,368 shares of the company’s stock worth $9,341,000 after purchasing an additional 117,306 shares in the last quarter. 6 Meridian bought a new stake in New Media Investment Group during the 3rd quarter worth approximately $608,000. Finally, Commonwealth Equity Services LLC bought a new stake in New Media Investment Group during the 2nd quarter worth approximately $131,000. 84.51% of the stock is owned by institutional investors and hedge funds.

Separately, Citigroup decreased their price target on shares of New Media Investment Group from $14.00 to $11.00 and set a “positive” rating for the company in a research note on Wednesday, August 7th.

In other New Media Investment Group news, CEO Michael Reed purchased 250,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was bought at an average cost of $8.78 per share, with a total value of $2,195,000.00. Following the purchase, the chief executive officer now directly owns 627,361 shares of the company’s stock, valued at $5,508,229.58. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kevin M. Sheehan purchased 15,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were acquired at an average cost of $8.76 per share, with a total value of $131,400.00. Following the completion of the purchase, the director now directly owns 48,070 shares in the company, valued at $421,093.20. The disclosure for this purchase can be found here. 1.82% of the stock is owned by company insiders.

Shares of NEWM opened at $6.57 on Friday. The stock has a market capitalization of $431.23 million, a P/E ratio of 237.67 and a beta of 1.12. New Media Investment Group Inc has a twelve month low of $6.52 and a twelve month high of $14.11. The company has a 50 day moving average of $8.46 and a 200-day moving average of $9.14. The company has a quick ratio of 0.84, a current ratio of 0.92 and a debt-to-equity ratio of 0.86.

New Media Investment Group (NYSE:NEWM) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.43). The business had revenue of $376.60 million for the quarter. New Media Investment Group had a positive return on equity of 0.17% and a negative net margin of 0.73%. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.10) earnings per share.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st were paid a dividend of $0.38 per share. The ex-dividend date was Thursday, October 31st. This represents a $1.52 annualized dividend and a dividend yield of 23.14%.

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 146 daily newspapers with total paid circulation of approximately 1.5 million; 323 weekly newspapers with total paid circulation of approximately 268,000 and total free circulation of approximately 1.4 million; 132 shoppers with total circulation of approximately 3.1 million; and 581 locally-focused Websites, including Internet and mobile devices with approximately 364 million page views per month.

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Institutional Ownership by Quarter for New Media Investment Group (NYSE:NEWM)

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