New Media Investment Group Inc. (NEWM) Position Increased by Royal Bank of Canada

Royal Bank of Canada boosted its position in shares of New Media Investment Group Inc. (NYSE:NEWM) by 4.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 102,912 shares of the company’s stock after purchasing an additional 4,384 shares during the quarter. Royal Bank of Canada owned about 0.19% of New Media Investment Group worth $1,387,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Goldman Sachs Group Inc. grew its position in New Media Investment Group by 45.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 149,011 shares of the company’s stock valued at $2,009,000 after purchasing an additional 46,484 shares during the last quarter. Voya Investment Management LLC grew its position in New Media Investment Group by 329.9% during the 2nd quarter. Voya Investment Management LLC now owns 79,043 shares of the company’s stock valued at $1,065,000 after purchasing an additional 60,655 shares during the last quarter. Dimensional Fund Advisors LP grew its position in New Media Investment Group by 27.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,978,862 shares of the company’s stock valued at $26,676,000 after purchasing an additional 426,816 shares during the last quarter. Citadel Advisors LLC grew its position in New Media Investment Group by 67.0% during the 2nd quarter. Citadel Advisors LLC now owns 430,160 shares of the company’s stock valued at $5,799,000 after purchasing an additional 172,615 shares during the last quarter. Finally, Hancock Holding Co. purchased a new stake in New Media Investment Group during the 2nd quarter valued at about $1,125,000. 75.15% of the stock is currently owned by institutional investors.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Wednesday, November 8th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 9.27%. The ex-dividend date of this dividend is Tuesday, November 7th. This is a positive change from New Media Investment Group’s previous quarterly dividend of $0.35. New Media Investment Group’s payout ratio is -666.67%.

Separately, BidaskClub downgraded shares of New Media Investment Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 25th.

In related news, CEO Michael Reed bought 20,000 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were bought at an average price of $13.60 per share, for a total transaction of $272,000.00. Following the completion of the purchase, the chief executive officer now directly owns 235,769 shares of the company’s stock, valued at $3,206,458.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.34% of the stock is owned by insiders.

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New Media Investment Group Company 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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