Zacks Investment Research upgraded shares of New Media Investment Group (NYSE:NEWM) from a sell rating to a hold rating in a report published on Wednesday.

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, ValuEngine downgraded New Media Investment Group from a buy rating to a hold rating in a research report on Thursday, August 2nd.

Shares of NEWM opened at $14.16 on Wednesday. The firm has a market capitalization of $874.91 million, a P/E ratio of 26.22 and a beta of 1.07. New Media Investment Group has a 52-week low of $13.90 and a 52-week high of $19.10. 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.24). The company had revenue of $380.42 million during the quarter, compared to the consensus estimate of $398.45 million. New Media Investment Group had a return on equity of 4.17% and a net margin of 2.08%. The firm’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.04) earnings per share. On average, sell-side analysts anticipate that New Media Investment Group will post 0.72 earnings per share for the current fiscal year.

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

In other New Media Investment Group news, COO Kirk A. Davis bought 6,750 shares of New Media Investment Group stock in a transaction on Thursday, November 8th. The shares were acquired at an average price of $14.20 per share, for a total transaction of $95,850.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Laurence Tarica bought 15,000 shares of New Media Investment Group stock in a transaction on Wednesday, November 7th. The stock was acquired at an average price of $14.48 per share, for a total transaction of $217,200.00. Following the purchase, the director now owns 103,070 shares of the company’s stock, valued at $1,492,453.60. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 128,750 shares of company stock worth $1,883,230. Insiders own 2.23% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System increased its stake in New Media Investment Group by 14.4% in the second quarter. Louisiana State Employees Retirement System now owns 27,000 shares of the company’s stock worth $499,000 after purchasing an additional 3,400 shares during the period. Texas Permanent School Fund increased its stake in shares of New Media Investment Group by 10.4% during the second quarter. Texas Permanent School Fund now owns 38,914 shares of the company’s stock valued at $719,000 after buying an additional 3,670 shares during the period. Arizona State Retirement System increased its stake in shares of New Media Investment Group by 4.6% during the second quarter. Arizona State Retirement System now owns 87,811 shares of the company’s stock valued at $1,623,000 after buying an additional 3,833 shares during the period. Swiss National Bank increased its stake in shares of New Media Investment Group by 4.3% during the third quarter. Swiss National Bank now owns 94,662 shares of the company’s stock valued at $1,485,000 after buying an additional 3,900 shares during the period. Finally, Global X Management Co LLC increased its stake in shares of New Media Investment Group by 0.7% during the second quarter. Global X Management Co LLC now owns 608,406 shares of the company’s stock valued at $11,243,000 after buying an additional 4,384 shares during the period. Institutional investors and hedge funds own 86.20% of the company’s stock.

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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