UBS Asset Management Americas Inc. Boosts Stake in New Media Investment Group Inc (NYSE:NEWM)

UBS Asset Management Americas Inc. lifted its stake in New Media Investment Group Inc (NYSE:NEWM) by 9.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,136 shares of the company’s stock after buying an additional 4,630 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.09% of New Media Investment Group worth $492,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of NEWM. Charles Schwab Investment Management Inc. lifted its stake in New Media Investment Group by 10.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 690,318 shares of the company’s stock worth $6,517,000 after purchasing an additional 65,413 shares during the last quarter. Cooperman Leon G lifted its stake in New Media Investment Group by 39.1% during the second quarter. Cooperman Leon G now owns 3,536,400 shares of the company’s stock worth $33,384,000 after purchasing an additional 994,000 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in New Media Investment Group by 13.5% during the second quarter. Robeco Institutional Asset Management B.V. now owns 989,368 shares of the company’s stock worth $9,341,000 after purchasing an additional 117,306 shares during the last quarter. Commonwealth Equity Services LLC bought a new stake in New Media Investment Group during the second quarter worth $131,000. Finally, Weiss Asset Management LP bought a new stake in New Media Investment Group during the second quarter worth $160,000. Institutional investors and hedge funds own 84.41% of the company’s stock.

Separately, Citigroup cut their target price on New Media Investment Group from $14.00 to $11.00 and set a “positive” rating for the company in a research note on Wednesday, August 7th.

In related news, CEO Michael Reed purchased 250,000 shares of the stock in a transaction dated Friday, August 30th. The stock was bought at an average cost of $8.78 per share, for a total transaction of $2,195,000.00. Following the completion of the acquisition, the chief executive officer now owns 627,361 shares of the company’s stock, valued at $5,508,229.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kevin M. Sheehan acquired 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was bought at an average price of $8.76 per share, with a total value of $131,400.00. Following the completion of the acquisition, the director now directly owns 48,070 shares of the company’s stock, valued at $421,093.20. The disclosure for this purchase can be found here. 1.82% of the stock is currently owned by corporate insiders.

Shares of NYSE:NEWM traded down $0.08 during trading on Friday, hitting $7.54. 2,089,408 shares of the company were exchanged, compared to its average volume of 976,570. The business’s 50 day moving average is $8.69 and its 200-day moving average is $9.23. The company has a market capitalization of $463.28 million, a P/E ratio of 272.67 and a beta of 1.12. The company has a quick ratio of 0.84, a current ratio of 0.92 and a debt-to-equity ratio of 0.86. New Media Investment Group Inc has a 1-year low of $7.08 and a 1-year high of $14.30.

New Media Investment Group (NYSE:NEWM) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.43). The company had revenue of $376.60 million for the quarter. New Media Investment Group had a positive return on equity of 0.17% and a negative net margin of 0.73%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.10) EPS.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.52 annualized dividend and a dividend yield of 20.16%.

About New Media Investment Group

New Media Investment Group Inc invests in, owns, and operates local media assets in the United States. The company's principal products include 146 daily newspapers with total paid circulation of approximately 1.5 million; 323 weekly newspapers with total paid circulation of approximately 268,000 and total free circulation of approximately 1.4 million; 132 shoppers with total circulation of approximately 3.1 million; and 581 locally-focused Websites, including Internet and mobile devices with approximately 364 million page views per month.

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Institutional Ownership by Quarter for New Media Investment Group (NYSE:NEWM)

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