Great West Life Assurance Co. Can Boosts Stake in New Media Investment Group Inc (NEWM)

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Great West Life Assurance Co. Can raised its holdings in shares of New Media Investment Group Inc (NYSE:NEWM) by 11.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 85,729 shares of the company’s stock after purchasing an additional 8,718 shares during the period. Great West Life Assurance Co. Can owned 0.14% of New Media Investment Group worth $1,584,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in NEWM. Commonwealth Equity Services LLC acquired a new stake in New Media Investment Group during the 1st quarter worth approximately $177,000. Koch Industries Inc. acquired a new stake in New Media Investment Group during the 1st quarter worth approximately $208,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in New Media Investment Group during the 2nd quarter worth approximately $236,000. Element Capital Management LLC bought a new position in shares of New Media Investment Group during the 1st quarter worth approximately $294,000. Finally, Fox Run Management L.L.C. grew its stake in shares of New Media Investment Group by 98.9% during the 2nd quarter. Fox Run Management L.L.C. now owns 20,317 shares of the company’s stock worth $375,000 after acquiring an additional 10,103 shares in the last quarter. Institutional investors own 86.37% of the company’s stock.

In other news, CEO Michael Reed bought 32,000 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The stock was acquired at an average cost of $15.74 per share, with a total value of $503,680.00. Following the completion of the purchase, the chief executive officer now owns 302,361 shares of the company’s stock, valued at $4,759,162.14. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.23% of the stock is currently owned by company insiders.

Several equities analysts have recently weighed in on NEWM shares. ValuEngine raised shares of New Media Investment Group from a “hold” rating to a “buy” rating in a research note on Friday, June 15th. Zacks Investment Research raised shares of New Media Investment Group from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Friday, June 15th. Finally, TheStreet raised shares of New Media Investment Group from a “c” rating to a “b-” rating in a research note on Monday, July 2nd.

Shares of NYSE:NEWM traded down $0.08 during midday trading on Friday, hitting $15.50. The stock had a trading volume of 268,549 shares, compared to its average volume of 427,783. New Media Investment Group Inc has a 12 month low of $14.25 and a 12 month high of $19.10. The company has a current ratio of 1.32, a quick ratio of 1.21 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $946.00 million, a PE ratio of 28.70 and a beta of 1.01.

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

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.

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

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