New Media Investment Group (NEWM) : Traders are negative on New Media Investment Group (NEWM), as it has 5.5% of short positions outstanding compared to its float. The total shorts have reduced by -63,450 shares, which is a -2.6% reduction. From Jul 29, 2016, to August 15, 2016, the shorts came down from,2,409,993 to 2,346,543 shares. While the daily trading volume of the stock is 257,021, there are 9 days remaining to cover the open short positions. The short interest indicates that the traders dont see a large downside in the stock from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.
New Media Investment Group (NYSE:NEWM): The stock opened at $16.38 on Wednesday but the bulls could not build on the opening and the stock topped out at $16.42 for the day. The stock traded down to $15.16 during the day, due to lack of any buying support eventually closed down at $15.40 with a loss of -8.88% for the day. The stock had closed at $16.90 on the previous day. The total traded volume was 1,085,522 shares.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of New Media Investment Group Inc., Tarica Laurence, had purchased 15,000 shares in a transaction dated on May 12, 2016. The transaction was executed at $15.67 per share with total amount equaling $235,050.
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