New Media Investment Group Inc (NEWM) Shares Bought by Cowen Prime Services LLC

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Cowen Prime Services LLC boosted its position in New Media Investment Group Inc (NYSE:NEWM) by 24.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 120,850 shares of the company’s stock after acquiring an additional 23,650 shares during the quarter. Cowen Prime Services LLC’s holdings in New Media Investment Group were worth $1,896,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of NEWM. BlackRock Inc. lifted its stake in shares of New Media Investment Group by 20.1% during the second quarter. BlackRock Inc. now owns 8,543,289 shares of the company’s stock worth $157,881,000 after purchasing an additional 1,428,170 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of New Media Investment Group by 21.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,516,392 shares of the company’s stock worth $64,983,000 after purchasing an additional 630,873 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of New Media Investment Group by 54.8% during the second quarter. Acadian Asset Management LLC now owns 2,046,373 shares of the company’s stock worth $37,815,000 after purchasing an additional 724,101 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of New Media Investment Group by 11.4% during the second quarter. Wells Fargo & Company MN now owns 1,686,904 shares of the company’s stock worth $31,173,000 after purchasing an additional 172,837 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of New Media Investment Group by 6.1% during the second quarter. Bank of New York Mellon Corp now owns 1,445,578 shares of the company’s stock worth $26,715,000 after purchasing an additional 83,391 shares in the last quarter. Hedge funds and other institutional investors own 86.31% of the company’s stock.

In other New Media Investment Group news, CEO Michael Reed bought 32,000 shares of the company’s stock in a transaction dated Monday, August 13th. The shares were acquired at an average cost of $15.74 per share, with a total value of $503,680.00. Following the completion of the transaction, the chief executive officer now owns 302,361 shares in the company, valued at $4,759,162.14. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.23% of the stock is currently owned by insiders.

A number of research analysts have commented on the company. Zacks Investment Research upgraded New Media Investment Group from a “sell” rating to a “hold” rating in a research note on Saturday, October 13th. TheStreet upgraded New Media Investment Group from a “c” rating to a “b-” rating in a research note on Monday, July 2nd. Finally, ValuEngine lowered New Media Investment Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd.

Shares of NYSE NEWM opened at $15.31 on Tuesday. New Media Investment Group Inc has a 1 year low of $14.93 and a 1 year high of $19.10. The stock has a market cap of $921.28 million, a PE ratio of 21.52 and a beta of 1.01. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.21 and a current ratio of 1.32.

New Media Investment Group (NYSE:NEWM) last announced its earnings results on Thursday, August 2nd. The company reported $0.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.04). New Media Investment Group had a return on equity of 5.60% and a net margin of 2.46%. The business had revenue of $388.80 million for the quarter, compared to analysts’ expectations of $367.84 million. During the same period in the previous year, the firm posted ($0.41) earnings per share. The firm’s revenue was up 20.4% compared to the same quarter last year. Equities research analysts anticipate that New Media Investment Group Inc will post 0.72 earnings per share for the current year.

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.

Further Reading: Understanding Compound Annual Growth Rate (CAGR)

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

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