The Schroder Investment Management Group Buys New Position in New Media Investment Group Inc. (NEWM)

The Schroder Investment Management Group Buys New Position in New Media Investment Group Inc. (NEWM)

Schroder Investment Management Group bought a new stake in shares of New Media Investment Group Inc. (NYSE:NEWM) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 21,800 shares of the company’s stock, valued at approximately $338,000.

A number of other hedge funds have also modified their holdings of the stock. Teacher Retirement System of Texas increased its stake in shares of New Media Investment Group by 19.2% in the second quarter. Teacher Retirement System of Texas now owns 6,207 shares of the company’s stock valued at $112,000 after buying an additional 999 shares in the last quarter. SG Americas Securities LLC purchased a new position in New Media Investment Group during the third quarter valued at $152,000. Capital Fund Management S.A. purchased a new position in New Media Investment Group during the second quarter valued at $188,000. Eqis Capital Management Inc. purchased a new position in New Media Investment Group during the third quarter valued at $169,000. Finally, Nisa Investment Advisors LLC boosted its position in New Media Investment Group by 909.1% in the third quarter. Nisa Investment Advisors LLC now owns 11,100 shares of the company’s stock valued at $172,000 after buying an additional 10,000 shares during the last quarter. Institutional investors and hedge funds own 65.81% of the company’s stock.

Shares of New Media Investment Group Inc. (NYSE:NEWM) traded down 1.45% during trading on Wednesday, reaching $15.58. The company had a trading volume of 294,911 shares. New Media Investment Group Inc. has a 1-year low of $13.95 and a 1-year high of $19.89. The company’s 50 day moving average is $15.92 and its 200-day moving average is $16.29. The stock has a market capitalization of $693.87 million, a price-to-earnings ratio of 9.51 and a beta of 1.33.

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

Several research firms have recently weighed in on NEWM. Zacks Investment Research cut New Media Investment Group from a “hold” rating to a “sell” rating in a report on Wednesday, November 23rd. Barrington Research cut New Media Investment Group from an “outperform” rating to a “market perform” rating in a report on Thursday, September 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $17.00.

In related news, CEO Michael Reed purchased 50,000 shares of the business’s stock in a transaction that occurred on Thursday, November 3rd. The shares were purchased at an average cost of $14.34 per share, with a total value of $717,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 165,769 shares of the company’s stock, valued at approximately $2,377,127.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Gregory William Freiberg purchased 85,000 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The stock was bought at an average cost of $15.01 per share, for a total transaction of $1,275,850.00. Following the completion of the acquisition, the chief financial officer now directly owns 107,769 shares of the company’s stock, valued at $1,617,612.69. The disclosure for this purchase can be found here. 3.46% of the stock is currently owned by corporate insiders.

About New Media Investment Group

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.

Want to see what other hedge funds are holding NEWM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for New Media Investment Group Inc. (NYSE:NEWM).

Related posts

Leave a Comment