New Media Investment Group Inc (NEWM) is Downgraded by Compass Point to Neutral, Lowers Price Target to $ 20

New Media Investment Group Inc (NEWM) was Downgraded by Compass Point to ” Neutral” while Lowering the Price Target of the company shares to $ 20 from a previous price target of $21 . Earlier the firm had a rating of “Buy ” on the company shares. Compass Point advised their investors in a research report released on Jul 29, 2016.

On the company’s financial health, New Media Investment Group Inc reported $0.21 EPS for the quarter, missing the analyst consensus estimate by $ -0.06 based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus of $0.27. The company had revenue of $314.80 million for the quarter, compared to analysts expectations of $313.36 million. The company’s revenue was up 5.1% compared to the same quarter last year.

New Media Investment Group Inc closed down -1.58 points or -8.06% at $18.02 with 6,44,573 shares getting traded on Thursday. Post opening the session at $19.1, the shares hit an intraday low of $17.65 and an intraday high of $19.1 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

In a different news, on May 16, 2016, Laurence Tarica (director) purchased 15,000 shares at $15.67 per share price. According to the SEC, on May 16, 2016, Michael Reed (CEO) purchased 60,000 shares at $15.90 per share price. On May 10, 2016, Gregory William Freiberg (CFO) purchased 25,000 shares at $16.10 per share price, according to the Form-4 filing with the securities and exchange commission.

New Media Investment Group Inc. is a holding company. The Company is a publisher of locally-based print and online media. The Company owns operates and invests in local media assets. It focuses on owning and acquiring local media assets in small to mid-size markets. It focuses on business categories such as consumers and small to medium size businesses (SMBs). Its portfolio of media assets spans across 379 markets and 27 states. Its products include 452 community print publications 379 Websites 360 mobile sites and six yellow page directories. Its digital marketing services business Propel Marketing (Propel) offers a set of turn-key digital marketing services to SMBs that provides results to the business owners. It operates in four publication groups: Small Community Newspapers Metros Large Daily Newspapers and Local Media

New Media Investment Group Inc

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