New Media Investment Group (NEWM) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of New Media Investment Group (NYSE:NEWM) from a sell rating to a hold rating in a research note published on Wednesday morning.

According to Zacks, “New Media Investment Group, Inc. is an online advertising and digital marketing company. The company’s core products include daily newspapers; weekly newspapers; locally focused Websites; mobile sites and yellow page directories. Its print and online products provide local market news and information that covers various topics, such as local news and politics, community and regional events, youth sports, opinion and editorial pages, and local schools. It also invests in diversified portfolio of local media assets. New Media Investment Group Inc. is based in New York. “

Separately, ValuEngine lowered shares of New Media Investment Group from a buy rating to a hold rating in a report on Thursday, August 2nd.

Shares of NEWM opened at $14.16 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.25 and a debt-to-equity ratio of 0.55. New Media Investment Group has a 1 year low of $13.90 and a 1 year high of $19.10. The company has a market cap of $874.91 million, a price-to-earnings ratio of 26.22 and a beta of 1.07.

New Media Investment Group (NYSE:NEWM) last announced its quarterly earnings data on Wednesday, October 31st. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.24). New Media Investment Group had a net margin of 2.08% and a return on equity of 4.17%. The company had revenue of $380.42 million for the quarter, compared to analysts’ expectations of $398.45 million. During the same period last year, the business earned ($0.04) earnings per share. The company’s quarterly revenue was up 19.9% compared to the same quarter last year. Analysts forecast that New Media Investment Group will post 0.72 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 20th. Shareholders of record on Monday, November 12th will be issued a dividend of $0.38 per share. This is a positive change from New Media Investment Group’s previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a yield of 10.73%. The ex-dividend date of this dividend is Thursday, November 8th. New Media Investment Group’s dividend payout ratio (DPR) is 274.07%.

In other news, CFO Gregory William Freiberg sold 85,000 shares of the stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $14.24, for a total transaction of $1,210,400.00. Following the completion of the transaction, the chief financial officer now directly owns 37,897 shares in the company, valued at approximately $539,653.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Kirk A. Davis bought 6,750 shares of the stock in a transaction dated Thursday, November 8th. The shares were purchased at an average price of $14.20 per share, with a total value of $95,850.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 128,750 shares of company stock valued at $1,883,230. Insiders own 2.23% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC bought a new position in shares of New Media Investment Group during the 2nd quarter valued at approximately $167,000. Claraphi Advisory Network LLC bought a new position in shares of New Media Investment Group during the 3rd quarter valued at approximately $180,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of New Media Investment Group during the 2nd quarter valued at approximately $236,000. Cubist Systematic Strategies LLC bought a new position in shares of New Media Investment Group during the 2nd quarter valued at approximately $275,000. Finally, Advisors Asset Management Inc. bought a new position in shares of New Media Investment Group during the 2nd quarter valued at approximately $2,918,000. Hedge funds and other institutional investors own 86.20% of the company’s stock.

New Media Investment Group Company Profile

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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