Shikiar Asset Management Inc. grew its holdings in shares of New Media Investment Group Inc (NYSE:NEWM) by 4.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 251,340 shares of the company’s stock after purchasing an additional 11,375 shares during the quarter. New Media Investment Group makes up about 1.1% of Shikiar Asset Management Inc.’s portfolio, making the stock its 28th biggest holding. Shikiar Asset Management Inc. owned approximately 0.42% of New Media Investment Group worth $2,639,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Quantamental Technologies LLC acquired a new position in shares of New Media Investment Group during the 1st quarter valued at about $46,000. Citigroup Inc. increased its stake in New Media Investment Group by 33.0% during the fourth quarter. Citigroup Inc. now owns 8,605 shares of the company’s stock worth $99,000 after purchasing an additional 2,137 shares during the period. Virtu Financial LLC purchased a new stake in New Media Investment Group during the first quarter worth about $156,000. BNP Paribas Arbitrage SA increased its stake in New Media Investment Group by 150.6% during the first quarter. BNP Paribas Arbitrage SA now owns 14,851 shares of the company’s stock worth $156,000 after purchasing an additional 8,926 shares during the period. Finally, Two Sigma Investments LP purchased a new stake in New Media Investment Group during the fourth quarter worth about $163,000. 81.56% of the stock is currently owned by institutional investors.
Separately, Citigroup upgraded shares of New Media Investment Group from a “sell” rating to a “neutral” rating in a research note on Wednesday, March 27th.
Shares of NEWM stock traded down $0.22 during trading hours on Friday, reaching $9.00. 356,100 shares of the stock were exchanged, compared to its average volume of 477,240. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.90 and a current ratio of 0.99. The firm has a market capitalization of $558.69 million, a price-to-earnings ratio of 24.87 and a beta of 1.15. New Media Investment Group Inc has a 12-month low of $8.99 and a 12-month high of $19.10.
New Media Investment Group (NYSE:NEWM) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.01). The firm had revenue of $387.60 million during the quarter. New Media Investment Group had a return on equity of 3.12% and a net margin of 0.62%. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period last year, the company earned ($0.01) earnings per share.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Monday, May 13th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 16.89%. The ex-dividend date was Friday, May 10th.
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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 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.
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