New Media Investment Group Inc (NEWM) Director Purchases $217,200.00 in Stock

New Media Investment Group Inc (NYSE:NEWM) Director Laurence Tarica purchased 15,000 shares of New Media Investment Group stock in a transaction on Wednesday, November 7th. The shares were acquired at an average cost of $14.48 per share, for a total transaction of $217,200.00. Following the purchase, the director now owns 103,070 shares in the company, valued at $1,492,453.60. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

Shares of New Media Investment Group stock traded down $0.04 during trading hours on Friday, reaching $14.16. 442,011 shares of the company’s stock were exchanged, compared to its average volume of 535,617. New Media Investment Group Inc has a 52-week low of $13.90 and a 52-week high of $19.10. The firm has a market cap of $874.91 million, a PE ratio of 26.22 and a beta of 1.07. 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 (NYSE:NEWM) last issued its quarterly earnings results on Wednesday, October 31st. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.24). The business had revenue of $380.42 million for the quarter, compared to analysts’ expectations of $398.45 million. New Media Investment Group had a return on equity of 4.17% and a net margin of 2.08%. The company’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.04) EPS. Equities research analysts anticipate that New Media Investment Group Inc will post 0.72 EPS for the current year.

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

A number of brokerages have weighed in on NEWM. ValuEngine lowered New Media Investment Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Zacks Investment Research lowered New Media Investment Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 7th.

Several institutional investors and hedge funds have recently modified their holdings of NEWM. BlackRock Inc. raised its position in shares of New Media Investment Group by 20.1% in the 2nd quarter. BlackRock Inc. now owns 8,543,289 shares of the company’s stock worth $157,881,000 after buying an additional 1,428,170 shares during the period. Acadian Asset Management LLC raised its position in shares of New Media Investment Group by 54.8% in the 2nd quarter. Acadian Asset Management LLC now owns 2,046,373 shares of the company’s stock worth $37,815,000 after buying an additional 724,101 shares during the period. Dimensional Fund Advisors LP raised its position in shares of New Media Investment Group by 21.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,516,392 shares of the company’s stock worth $64,983,000 after buying an additional 630,873 shares during the period. Citadel Advisors LLC raised its position in shares of New Media Investment Group by 318.7% in the 2nd quarter. Citadel Advisors LLC now owns 491,646 shares of the company’s stock worth $9,086,000 after buying an additional 374,230 shares during the period. Finally, American Century Companies Inc. purchased a new position in shares of New Media Investment Group in the 2nd quarter worth $6,631,000. 86.20% of the stock is currently owned by institutional investors and hedge funds.

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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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