Miller Value Partners LLC Grows Position in New Media Investment Group Inc (NEWM)

Miller Value Partners LLC lifted its stake in New Media Investment Group Inc (NYSE:NEWM) by 18.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 262,835 shares of the company’s stock after buying an additional 40,000 shares during the period. Miller Value Partners LLC’s holdings in New Media Investment Group were worth $4,857,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. MetLife Investment Advisors LLC increased its holdings in shares of New Media Investment Group by 24.3% during the second quarter. MetLife Investment Advisors LLC now owns 27,741 shares of the company’s stock worth $513,000 after buying an additional 5,431 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its holdings in shares of New Media Investment Group by 49.7% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 54,800 shares of the company’s stock valued at $1,013,000 after purchasing an additional 18,200 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of New Media Investment Group in the second quarter valued at approximately $167,000. Cubist Systematic Strategies LLC acquired a new stake in shares of New Media Investment Group in the second quarter valued at approximately $275,000. Finally, Capital Fund Management S.A. acquired a new stake in shares of New Media Investment Group in the second quarter valued at approximately $432,000. Institutional investors and hedge funds own 86.37% of the company’s stock.

In related news, CEO Michael Reed purchased 32,000 shares of the stock in a transaction that occurred on Monday, August 13th. The stock was acquired at an average price of $15.74 per share, with a total value of $503,680.00. Following the completion of the acquisition, the chief executive officer now directly owns 302,361 shares in the company, valued at approximately $4,759,162.14. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.23% of the company’s stock.

A number of analysts recently weighed in on the stock. Zacks Investment Research raised shares of New Media Investment Group from a “sell” rating to a “hold” rating in a report on Friday. ValuEngine lowered shares of New Media Investment Group from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Finally, TheStreet raised shares of New Media Investment Group from a “c” rating to a “b-” rating in a report on Monday, July 2nd.

Shares of New Media Investment Group stock opened at $15.54 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.32 and a quick ratio of 1.21. The company has a market capitalization of $928.51 million, a P/E ratio of 28.78 and a beta of 1.01. New Media Investment Group Inc has a fifty-two week low of $13.72 and a fifty-two week high of $19.10.

New Media Investment Group (NYSE:NEWM) last issued its quarterly earnings results on Thursday, August 2nd. The company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). The company had revenue of $388.80 million during the quarter, compared to analyst estimates of $367.84 million. New Media Investment Group had a net margin of 2.46% and a return on equity of 5.60%. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.41) EPS. equities analysts predict that New Media Investment Group Inc will post 0.72 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 21st. Investors of record on Monday, August 13th were issued a $0.37 dividend. The ex-dividend date of this dividend was Friday, August 10th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 9.52%. This is a positive change from New Media Investment Group’s previous quarterly dividend of $0.33. New Media Investment Group’s dividend payout ratio (DPR) is currently 274.07%.

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 142 daily newspapers with total paid circulation of approximately 1.5 million; 326 weekly newspapers with total paid circulation of approximately 318,000 and total free circulation of approximately 2.0 million; 140 shoppers with total circulation of approximately 3.5 million; and 569 locally-focused Websites, including Internet and mobile devices with approximately 290 million page views per month.

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

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