Vanguard Group Inc. raised its position in shares of New Media Investment Group Inc. (NYSE:NEWM) by 4.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,766,528 shares of the company’s stock after buying an additional 220,340 shares during the period. Vanguard Group Inc. owned approximately 8.89% of New Media Investment Group worth $67,732,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Norges Bank purchased a new position in New Media Investment Group during the fourth quarter worth about $15,702,000. Global X Management Co. LLC bought a new position in shares of New Media Investment Group during the first quarter valued at $8,238,000. Wells Fargo & Company MN increased its position in shares of New Media Investment Group by 32.9% in the first quarter. Wells Fargo & Company MN now owns 1,358,175 shares of the company’s stock valued at $19,298,000 after buying an additional 336,109 shares during the period. Dimensional Fund Advisors LP increased its position in shares of New Media Investment Group by 26.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,216,856 shares of the company’s stock valued at $19,458,000 after buying an additional 255,622 shares during the period. Finally, State Street Corp increased its position in shares of New Media Investment Group by 29.3% in the fourth quarter. State Street Corp now owns 1,078,317 shares of the company’s stock valued at $17,242,000 after buying an additional 244,636 shares during the period. Institutional investors and hedge funds own 76.44% of the company’s stock.

Shares of New Media Investment Group Inc. (NYSE NEWM) traded down 0.59% during midday trading on Thursday, hitting $13.42. The stock had a trading volume of 140,924 shares. The company’s 50-day moving average price is $13.61 and its 200-day moving average price is $13.95. New Media Investment Group Inc. has a 12-month low of $11.87 and a 12-month high of $17.19. The firm’s market cap is $709.45 million.

New Media Investment Group (NYSE:NEWM) last issued its quarterly earnings results on Thursday, July 27th. The company reported ($0.41) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.59. New Media Investment Group had a positive return on equity of 2.22% and a negative net margin of 0.64%. The firm had revenue of $322.90 million for the quarter, compared to the consensus estimate of $320.54 million. During the same period last year, the company posted $0.21 EPS. The business’s revenue was up 2.6% on a year-over-year basis. Equities research analysts forecast that New Media Investment Group Inc. will post $0.27 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Wednesday, August 9th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 10.37%. The ex-dividend date is Monday, August 7th. New Media Investment Group’s payout ratio is -1,272.73%.

New Media Investment Group declared that its Board of Directors has approved a stock buyback plan on Wednesday, May 17th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to buy up to 15.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

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Several analysts have recently commented on the company. BidaskClub raised New Media Investment Group from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. TheStreet cut New Media Investment Group from a “b-” rating to a “c” rating in a report on Friday, May 5th. Zacks Investment Research raised New Media Investment Group from a “strong sell” rating to a “hold” rating in a report on Thursday, June 29th. Finally, Stephens raised New Media Investment Group from an “equal weight” rating to an “overweight” rating in a report on Tuesday, May 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $15.50.

About New Media Investment Group

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.

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

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