Municipal Employees Retirement System of Michigan Has $1.05 Million Stake in New Media Investment Group Inc. (NEWM)

Municipal Employees Retirement System of Michigan increased its position in New Media Investment Group Inc. (NYSE:NEWM) by 11.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,870 shares of the company’s stock after acquiring an additional 7,440 shares during the quarter. Municipal Employees Retirement System of Michigan owned about 0.13% of New Media Investment Group worth $1,049,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in New Media Investment Group by 2.1% in the second quarter. BlackRock Inc. now owns 6,826,522 shares of the company’s stock valued at $92,021,000 after purchasing an additional 140,486 shares in the last quarter. Vanguard Group Inc. raised its stake in New Media Investment Group by 4.8% in the first quarter. Vanguard Group Inc. now owns 4,766,528 shares of the company’s stock valued at $67,732,000 after purchasing an additional 220,340 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in New Media Investment Group by 27.5% in the second 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 in the last quarter. Wells Fargo & Company MN raised its stake in New Media Investment Group by 4.6% in the second quarter. Wells Fargo & Company MN now owns 1,420,767 shares of the company’s stock valued at $19,152,000 after purchasing an additional 62,592 shares in the last quarter. Finally, State Street Corp raised its stake in New Media Investment Group by 6.4% in the second quarter. State Street Corp now owns 1,309,928 shares of the company’s stock valued at $17,657,000 after purchasing an additional 78,311 shares in the last quarter. Institutional investors own 75.22% of the company’s stock.

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

Shares of New Media Investment Group Inc. (NYSE NEWM) opened at $17.12 on Thursday. The firm has a market cap of $904.21, a P/E ratio of 47.19 and a beta of 1.31. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.84 and a quick ratio of 1.74. New Media Investment Group Inc. has a one year low of $11.87 and a one year high of $17.23.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Wednesday, November 8th were paid a $0.37 dividend. This is an increase from New Media Investment Group’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a yield of 8.64%. The ex-dividend date of this dividend was Tuesday, November 7th. New Media Investment Group’s dividend payout ratio (DPR) is currently -704.76%.

New Media Investment Group 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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