Berson Corrado Investment Advisors Lowers stake in New Media Investment Group Inc (NEWM)

New Media Investment Group Inc (NEWM) : Berson Corrado Investment Advisors reduced its stake in New Media Investment Group Inc by 2.6% during the most recent quarter end. The investment management company now holds a total of 314,212 shares of New Media Investment Group Inc which is valued at $5,916,612 after selling 8,374 shares in New Media Investment Group Inc , the firm said in a disclosure report filed with the SEC on Jul 8, 2016.New Media Investment Group Inc makes up approximately 2.21% of Berson Corrado Investment Advisors’s portfolio.

Other Hedge Funds, Including , Alpha Windward reduced its stake in NEWM by selling 3,000 shares or 11.21% in the most recent quarter. The Hedge Fund company now holds 23,760 shares of NEWM which is valued at $447,401. New Media Investment Group Inc makes up approx 0.32% of Alpha Windward’s portfolio. Bnp Paribas Arbitrage Sa added NEWM to its portfolio by purchasing 1,904 company shares during the most recent quarter which is valued at $35,852.

New Media Investment Group Inc closed down -0.06 points or -0.31% at $19.33 with 2,43,667 shares getting traded on Wednesday. Post opening the session at $19.4, the shares hit an intraday low of $19.23 and an intraday high of $19.5 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, New Media Investment Group Inc reported $0.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.03. The company had revenue of $300.10 million for the quarter, compared to analysts expectations of $296.27 million. The company’s revenue was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.14 EPS.

Many Wall Street Analysts have commented on New Media Investment Group Inc. Shares were Reiterated by Compass Point on Apr 29, 2016 to “Buy” and Lowered the Price Target to $ 21 from a previous price target of $24 .

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

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