New Media Investment Group Inc (NEWM) was Downgraded by Citigroup to ” Sell”. Earlier the firm had a rating of “Neutral ” on the company shares. Citigroup advised their investors in a research report released on Aug 24, 2016.
Many Wall Street Analysts have commented on New Media Investment Group Inc. Shares were Reiterated by Barrington Research on Aug 15, 2016 to “Outperform” and Lowered the Price Target to $ 19 from a previous price target of $22 .Shares were Downgraded by Compass Point on Jul 29, 2016 to ” Neutral” and Lowered the Price Target to $ 20 from a previous price target of $21 .
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 opened for trading at $16.88 and hit $17.04 on the upside on Tuesday, eventually ending the session at $16.9, with a gain of 0.18% or 0.03 points. The heightened volatility saw the trading volume jump to 1,46,061 shares. Company has a market cap of $758 M.
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