Janney Montgomery Scott LLC boosted its stake in shares of New Media Investment Group Inc (NYSE:NEWM) by 6.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 104,658 shares of the company’s stock after acquiring an additional 6,446 shares during the quarter. Janney Montgomery Scott LLC owned 0.20% of New Media Investment Group worth $1,548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of NEWM. Piedmont Investment Advisors LLC bought a new position in shares of New Media Investment Group in the 2nd quarter worth approximately $158,000. WBI Investments Inc. bought a new position in New Media Investment Group during the 2nd quarter valued at approximately $166,000. BNP Paribas Arbitrage SA increased its position in New Media Investment Group by 49.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 17,941 shares of the company’s stock valued at $242,000 after buying an additional 5,928 shares in the last quarter. Stephens Inc. AR purchased a new stake in New Media Investment Group during the 2nd quarter valued at $243,000. Finally, Quinn Opportunity Partners LLC purchased a new stake in New Media Investment Group during the 2nd quarter valued at $271,000. Institutional investors own 77.49% of the company’s stock.
A number of research firms have recently issued reports on NEWM. Zacks Investment Research upgraded New Media Investment Group from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Wednesday, January 3rd. BidaskClub upgraded New Media Investment Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 29th.
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About New Media Investment Group
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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