Insider Buying: New Media Investment Group Inc (NEWM) COO Acquires 6,750 Shares of Stock
New Media Investment Group Inc (NYSE:NEWM) COO Kirk A. Davis purchased 6,750 shares of the stock in a transaction that occurred on Thursday, November 8th. The stock was purchased at an average price of $14.20 per share, with a total value of $95,850.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Shares of NYSE NEWM opened at $14.16 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.25 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $874.91 million, a P/E ratio of 26.38 and a beta of 1.07. New Media Investment Group Inc has a 52-week low of $13.90 and a 52-week high of $19.10.
New Media Investment Group (NYSE:NEWM) last announced its quarterly earnings results 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). The firm had revenue of $380.42 million during the quarter, compared to analysts’ expectations of $398.45 million. New Media Investment Group had a net margin of 2.08% and a return on equity of 4.17%. The firm’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.04) EPS. Analysts anticipate that New Media Investment Group Inc will post 0.72 EPS for the current year.
A number of analysts recently issued reports on NEWM shares. Zacks Investment Research upgraded New Media Investment Group from a “sell” rating to a “hold” rating in a report on Wednesday. ValuEngine lowered New Media Investment Group from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd.
A number of institutional investors have recently bought and sold shares of NEWM. Tower Research Capital LLC TRC purchased a new stake in New Media Investment Group during the second quarter worth $167,000. Claraphi Advisory Network LLC purchased a new stake in New Media Investment Group during the third quarter worth $180,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of New Media Investment Group during the second quarter worth $236,000. Cubist Systematic Strategies LLC acquired a new position in shares of New Media Investment Group during the second quarter worth $275,000. Finally, Fox Run Management L.L.C. increased its position in shares of New Media Investment Group by 98.9% during the second quarter. Fox Run Management L.L.C. now owns 20,317 shares of the company’s stock worth $375,000 after purchasing an additional 10,103 shares in the last quarter. 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.
Further Reading: Price to Earnings Ratio (PE) Basics
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