Zacks Investment Research upgraded shares of New Media Investment Group (NYSE:NEWM) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning. Zacks Investment Research currently has $19.00 price target on the stock.
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, BidaskClub raised shares of New Media Investment Group from a buy rating to a strong-buy rating in a report on Tuesday, November 14th.
Shares of New Media Investment Group (NYSE NEWM) traded up $0.19 on Wednesday, hitting $16.60. 125,696 shares of the stock traded hands, compared to its average volume of 216,767. New Media Investment Group has a 12 month low of $11.87 and a 12 month high of $17.62. The company has a market capitalization of $883.46, a PE ratio of -79.05 and a beta of 1.35. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.84 and a quick ratio of 1.74.
Several institutional investors and hedge funds have recently made changes to their positions in the company. GSA Capital Partners LLP increased its stake in New Media Investment Group by 107.1% in the third quarter. GSA Capital Partners LLP now owns 69,892 shares of the company’s stock valued at $1,034,000 after acquiring an additional 36,152 shares during the last quarter. Algert Global LLC bought a new position in New Media Investment Group in the third quarter valued at approximately $2,308,000. Janney Montgomery Scott LLC increased its stake in New Media Investment Group by 6.6% in the third quarter. Janney Montgomery Scott LLC now owns 104,658 shares of the company’s stock valued at $1,548,000 after acquiring an additional 6,446 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in New Media Investment Group by 15.6% in the third quarter. Dimensional Fund Advisors LP now owns 2,288,336 shares of the company’s stock valued at $33,845,000 after acquiring an additional 309,474 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in New Media Investment Group by 10.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 339,880 shares of the company’s stock valued at $5,027,000 after acquiring an additional 31,777 shares during the last quarter. 77.49% of the stock is currently owned by institutional investors.
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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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