Public Sector Pension investment Board Has $371,000 Stake in New Media Investment Group Inc. (NEWM)

Public Sector Pension investment Board cut its stake in New Media Investment Group Inc. (NYSE:NEWM) by 25.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,500 shares of the company’s stock after selling 9,500 shares during the quarter. Public Sector Pension investment Board owned 0.05% of New Media Investment Group worth $371,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. State of Alaska Department of Revenue grew its holdings in shares of New Media Investment Group by 77.6% in the second quarter. State of Alaska Department of Revenue now owns 10,481 shares of the company’s stock valued at $141,000 after acquiring an additional 4,581 shares in the last quarter. Gotham Asset Management LLC bought a new position in shares of New Media Investment Group in the first quarter valued at approximately $146,000. WBI Investments Inc. bought a new position in shares of New Media Investment Group in the second quarter valued at approximately $166,000. Mason Street Advisors LLC grew its holdings in shares of New Media Investment Group by 9.3% in the first quarter. Mason Street Advisors LLC now owns 12,504 shares of the company’s stock valued at $178,000 after acquiring an additional 1,060 shares in the last quarter. Finally, UBS Asset Management Americas Inc. bought a new position in shares of New Media Investment Group in the first quarter valued at approximately $214,000. 75.05% of the stock is owned by hedge funds and other institutional investors.

Separately, BidaskClub raised New Media Investment Group from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd.

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New Media Investment Group (NYSE:NEWM) last announced its quarterly earnings data on Thursday, July 27th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.59). New Media Investment Group had a positive return on equity of 2.22% and a negative net margin of 0.64%. The firm had revenue of $322.90 million during the quarter, compared to analysts’ expectations of $320.54 million. During the same quarter in the previous year, the firm earned $0.21 earnings per share. New Media Investment Group’s revenue was up 2.6% on a year-over-year basis.

In other news, CEO Michael Reed acquired 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was bought at an average cost of $13.60 per share, for a total transaction of $272,000.00. Following the acquisition, the chief executive officer now directly owns 235,769 shares in the company, valued at $3,206,458.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.34% of the stock is owned by insiders.

About New Media Investment Group

New Media Investment Group Inc is a holding company. The Company owns, operates and invests in local media assets. The Company’s segments include Eastern US Publishing, Central US Publishing, Western US Publishing and BridgeTower. It focuses on owning and acquiring local media assets in small to mid-size markets.

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

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