Stock Traders Buy Large Volume of Call Options on New Media Investment Group (NYSE:NEWM)

New Media Investment Group Inc (NYSE:NEWM) saw unusually large options trading activity on Monday. Traders purchased 897 call options on the company. This is an increase of 908% compared to the average daily volume of 89 call options.

Shares of NYSE NEWM traded up $0.32 during midday trading on Tuesday, hitting $7.23. The stock had a trading volume of 34,791 shares, compared to its average volume of 1,329,448. The business’s 50 day moving average is $8.62 and its 200-day moving average is $9.19. The company has a market cap of $419.13 million, a P/E ratio of 251.33 and a beta of 1.12. New Media Investment Group has a 52 week low of $7.08 and a 52 week high of $14.30. 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 (NYSE:NEWM) last issued its 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 firm had revenue of $376.60 million during 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 quarter in the previous year, the company posted ($0.10) EPS.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st will be paid a $0.38 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 21.02%.

Separately, Citigroup lowered their price target on shares of 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 other New Media Investment Group news, Director Kevin M. Sheehan purchased 15,000 shares of the stock in a transaction on Friday, August 30th. The stock was acquired at an average cost of $8.76 per share, with a total value of $131,400.00. Following the completion of the purchase, the director now directly owns 48,070 shares of the company’s stock, valued at approximately $421,093.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Reed purchased 250,000 shares of the stock in a transaction on Friday, August 30th. The stock was acquired at an average cost of $8.78 per share, with a total value of $2,195,000.00. Following the completion of the purchase, the chief executive officer now directly owns 627,361 shares of the company’s stock, valued at $5,508,229.58. The disclosure for this purchase can be found here. Insiders own 1.82% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in NEWM. WBI Investments Inc. increased its holdings in New Media Investment Group by 3.0% in the 3rd quarter. WBI Investments Inc. now owns 51,379 shares of the company’s stock worth $453,000 after acquiring an additional 1,496 shares in the last quarter. State of Tennessee Treasury Department lifted its holdings in shares of New Media Investment Group by 8.5% during the third quarter. State of Tennessee Treasury Department now owns 23,872 shares of the company’s stock worth $210,000 after purchasing an additional 1,877 shares during the period. Municipal Employees Retirement System of Michigan lifted its holdings in shares of New Media Investment Group by 11.9% during the third quarter. Municipal Employees Retirement System of Michigan now owns 18,150 shares of the company’s stock worth $160,000 after purchasing an additional 1,930 shares during the period. Louisiana State Employees Retirement System lifted its holdings in shares of New Media Investment Group by 10.3% during the third quarter. Louisiana State Employees Retirement System now owns 22,400 shares of the company’s stock worth $197,000 after purchasing an additional 2,100 shares during the period. Finally, Winfield Associates Inc. lifted its holdings in shares of New Media Investment Group by 6.5% during the third quarter. Winfield Associates Inc. now owns 37,750 shares of the company’s stock worth $333,000 after purchasing an additional 2,300 shares during the period. 84.51% of the stock is owned by hedge funds and other institutional investors.

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.

Featured Story: Understanding the different types of bonds

Receive News & Ratings for New Media Investment Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Media Investment Group and related companies with MarketBeat.com's FREE daily email newsletter.