The New Media Investment Group Inc. (NEWM) Position Decreased by Buckhead Capital Management LLC

The New Media Investment Group Inc. (NEWM) Position Decreased by Buckhead Capital Management LLC

Buckhead Capital Management LLC reduced its stake in New Media Investment Group Inc. (NYSE:NEWM) by 14.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 94,135 shares of the company’s stock after selling 15,400 shares during the period. Buckhead Capital Management LLC’s holdings in New Media Investment Group were worth $1,459,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NEWM. Bank of Montreal Can purchased a new position in shares of New Media Investment Group during the second quarter valued at about $16,933,000. Capital Fund Management S.A. purchased a new position in shares of New Media Investment Group during the second quarter valued at about $188,000. Gargoyle Investment Advisor L.L.C. purchased a new position in shares of New Media Investment Group during the second quarter valued at about $482,000. Monarch Partners Asset Management LLC boosted its position in shares of New Media Investment Group by 23.0% in the second quarter. Monarch Partners Asset Management LLC now owns 25,792 shares of the company’s stock valued at $466,000 after buying an additional 4,820 shares during the last quarter. Finally, SignalPoint Asset Management LLC boosted its position in shares of New Media Investment Group by 6.9% in the second quarter. SignalPoint Asset Management LLC now owns 30,864 shares of the company’s stock valued at $558,000 after buying an additional 1,983 shares during the last quarter. 65.81% of the stock is currently owned by institutional investors and hedge funds.

Shares of New Media Investment Group Inc. (NYSE:NEWM) traded down 1.99% during mid-day trading on Thursday, reaching $15.27. The company had a trading volume of 277,459 shares. The stock has a 50 day moving average of $15.93 and a 200-day moving average of $16.28. The company has a market capitalization of $680.06 million, a price-to-earnings ratio of 9.32 and a beta of 1.33. New Media Investment Group Inc. has a 52 week low of $13.95 and a 52 week high of $19.89.

New Media Investment Group (NYSE:NEWM) last issued its earnings results on Thursday, October 27th. The company reported $0.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by $0.07. New Media Investment Group had a net margin of 5.86% and a return on equity of 6.50%. The firm earned $306.80 million during the quarter, compared to the consensus estimate of $308.80 million. During the same period in the previous year, the company posted $0.14 EPS. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. On average, analysts expect that New Media Investment Group Inc. will post $0.85 earnings per share for the current fiscal year.

NEWM has been the topic of a number of analyst reports. Zacks Investment Research raised New Media Investment Group from a “strong sell” rating to a “hold” rating in a research report on Friday, September 23rd. Barrington Research cut New Media Investment Group from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $17.00.

In other news, CFO Gregory William Freiberg bought 85,000 shares of the stock in a transaction on Monday, November 7th. The stock was purchased at an average price of $15.01 per share, with a total value of $1,275,850.00. Following the completion of the purchase, the chief financial officer now owns 107,769 shares of the company’s stock, valued at $1,617,612.69. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Reed bought 50,000 shares of the stock in a transaction on Thursday, November 3rd. The stock was purchased at an average cost of $14.34 per share, with a total value of $717,000.00. Following the purchase, the chief executive officer now directly owns 165,769 shares of the company’s stock, valued at approximately $2,377,127.46. The disclosure for this purchase can be found here. Insiders acquired 155,000 shares of company stock valued at $2,311,850 in the last ninety days. Insiders own 3.46% of the company’s stock.

New Media Investment Group Company Profile

New Media Investment Group Inc (New Media) is a holding company. The Company owns, operates and invests in local media assets. It has a focus on owning and acquiring local media assets in small to mid-size markets. The Company is a publisher of locally based print and online media. The Company’s operating segments include Eastern US Publishing, Central US Publishing and Western US Publishing.

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