Vanguard Group Inc. Raises Stake in New Media Investment Group Inc. (NYSE:NEWM)

Vanguard Group Inc. raised its position in New Media Investment Group Inc. (NYSE:NEWM) by 4.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,766,528 shares of the company’s stock after buying an additional 220,340 shares during the period. Vanguard Group Inc. owned approximately 8.89% of New Media Investment Group worth $67,732,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its stake in New Media Investment Group by 1,094.4% in the first quarter. Nisa Investment Advisors LLC now owns 10,750 shares of the company’s stock worth $153,000 after buying an additional 9,850 shares during the last quarter. Quantbot Technologies LP acquired a new stake in New Media Investment Group during the first quarter worth about $164,000. Mason Street Advisors LLC raised its stake in New Media Investment Group by 9.3% in the first quarter. Mason Street Advisors LLC now owns 12,504 shares of the company’s stock worth $178,000 after buying an additional 1,060 shares during the last quarter. UBS Asset Management Americas Inc. acquired a new stake in New Media Investment Group during the first quarter worth about $214,000. Finally, Teachers Retirement System of The State of Kentucky acquired a new stake in New Media Investment Group during the fourth quarter worth about $273,000. 75.58% of the stock is owned by institutional investors and hedge funds.

Shares of New Media Investment Group Inc. (NEWM) traded up 1.56% on Friday, hitting $13.67. 430,776 shares of the stock traded hands. The firm’s 50 day moving average is $13.59 and its 200-day moving average is $14.08. New Media Investment Group Inc. has a 12 month low of $11.87 and a 12 month high of $17.44. The company’s market cap is $722.66 million.

New Media Investment Group (NYSE:NEWM) last posted its quarterly earnings data on Thursday, July 27th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by $0.59. The company had revenue of $322.90 million for the quarter, compared to analysts’ expectations of $320.54 million. New Media Investment Group had a positive return on equity of 2.22% and a negative net margin of 0.64%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.21 EPS. Equities analysts predict that New Media Investment Group Inc. will post $0.27 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Wednesday, August 9th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 10.24%. The ex-dividend date of this dividend is Monday, August 7th. New Media Investment Group’s dividend payout ratio is presently -1,272.73%.

New Media Investment Group announced that its board has approved a share repurchase program on Wednesday, May 17th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to buy up to 15.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

A number of research firms have recently issued reports on NEWM. BidaskClub raised shares of New Media Investment Group from a “hold” rating to a “buy” rating in a report on Wednesday. Zacks Investment Research raised shares of New Media Investment Group from a “strong sell” rating to a “hold” rating in a report on Thursday, June 29th. TheStreet lowered shares of New Media Investment Group from a “b-” rating to a “c” rating in a report on Friday, May 5th. Finally, Stephens raised shares of New Media Investment Group from an “equal weight” rating to an “overweight” rating in a report on Tuesday, May 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. New Media Investment Group has an average rating of “Hold” and a consensus target price of $16.67.

New Media Investment Group Company Profile

New Media Investment Group Inc is a holding company. The Company owns, operates and invests in local media assets. The Company’s segments include Eastern US Publishing, Central US Publishing, Western US Publishing and BridgeTower. It focuses on owning and acquiring local media assets in small to mid-size markets.

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