New Media Investment Group Inc (NEWM) : Omega Advisors reduced its stake in New Media Investment Group Inc by 0.93% during the most recent quarter end. The investment management company now holds a total of 3,172,602 shares of New Media Investment Group Inc which is valued at $53,680,426 after selling 29,839 shares in New Media Investment Group Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.New Media Investment Group Inc makes up approximately 1.40% of Omega Advisors’s portfolio.
Other Hedge Funds, Including , Wellington Management Group Llp added NEWM to its portfolio by purchasing 10,100 company shares during the most recent quarter which is valued at $170,892.Secor Capital Advisors Lp boosted its stake in NEWM in the latest quarter, The investment management firm added 118,384 additional shares and now holds a total of 170,751 shares of New Media Investment Group Inc which is valued at $2,875,447. New Media Investment Group Inc makes up approx 0.40% of Secor Capital Advisors Lp’s portfolio.Thompson Siegel Walmsley reduced its stake in NEWM by selling 28,052 shares or 2.52% in the most recent quarter. The Hedge Fund company now holds 1,083,549 shares of NEWM which is valued at $18,886,259. New Media Investment Group Inc makes up approx 0.29% of Thompson Siegel Walmsley’s portfolio. Gargoyle Investment Advisor L.l.c. added NEWM to its portfolio by purchasing 26,648 company shares during the most recent quarter which is valued at $522,301. New Media Investment Group Inc makes up approx 0.18% of Gargoyle Investment Advisor L.l.c.’s portfolio.
New Media Investment Group Inc closed down -0.07 points or -0.44% at $15.91 with 2,35,652 shares getting traded on Thursday. Post opening the session at $16.02, the shares hit an intraday low of $15.75 and an intraday high of $16.02 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
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.
Many Wall Street Analysts have commented on New Media Investment Group Inc. New Media Investment Group Inc was Downgraded by Citigroup to ” Sell” on Aug 24, 2016. 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 .
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