New Media Investment Group Inc (NEWM) Stake Lessened by New York State Common Retirement Fund

New York State Common Retirement Fund cut its stake in shares of New Media Investment Group Inc (NYSE:NEWM) by 11.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,500 shares of the company’s stock after selling 7,900 shares during the period. New York State Common Retirement Fund owned approximately 0.10% of New Media Investment Group worth $677,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in NEWM. Acadian Asset Management LLC grew its position in New Media Investment Group by 2.1% during the 4th quarter. Acadian Asset Management LLC now owns 2,296,965 shares of the company’s stock worth $26,573,000 after acquiring an additional 47,869 shares during the last quarter. First Trust Advisors LP bought a new position in New Media Investment Group in the 4th quarter valued at $1,596,000. Prudential Financial Inc. boosted its position in New Media Investment Group by 33.9% in the 4th quarter. Prudential Financial Inc. now owns 122,285 shares of the company’s stock valued at $1,415,000 after buying an additional 30,980 shares during the last quarter. BBT Capital Management LLC bought a new position in New Media Investment Group in the 4th quarter valued at $1,105,000. Finally, Oregon Public Employees Retirement Fund bought a new position in New Media Investment Group in the 4th quarter valued at $239,000. 84.71% of the stock is currently owned by institutional investors.

Shares of NEWM opened at $10.68 on Tuesday. The firm has a market capitalization of $635.37 million, a price-to-earnings ratio of 27.38 and a beta of 1.16. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.10 and a current ratio of 1.20. New Media Investment Group Inc has a 52 week low of $10.46 and a 52 week high of $19.10.

New Media Investment Group (NYSE:NEWM) last announced its quarterly earnings data on Wednesday, February 27th. The company reported $0.22 EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.24). The firm had revenue of $416.00 million during the quarter. New Media Investment Group had a net margin of 1.19% and a return on equity of 2.73%. The business’s revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.50 EPS.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Monday, March 11th were given a $0.38 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $1.52 dividend on an annualized basis and a yield of 14.23%. New Media Investment Group’s payout ratio is 389.74%.

A number of brokerages have commented on NEWM. Citigroup upgraded New Media Investment Group from a “sell” rating to a “neutral” rating in a research report on Wednesday, March 27th. ValuEngine upgraded New Media Investment Group from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Finally, Zacks Investment Research lowered New Media Investment Group from a “hold” rating to a “sell” rating in a research report on Friday, January 11th.

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

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