New Media Investment Group Inc. (NEWM) Upgraded by BidaskClub to Strong-Buy

BidaskClub upgraded shares of New Media Investment Group Inc. (NYSE:NEWM) from a buy rating to a strong-buy rating in a research report report published on Tuesday morning.

New Media Investment Group (NYSE:NEWM) traded down $0.07 during mid-day trading on Tuesday, hitting $15.87. The company had a trading volume of 158,700 shares, compared to its average volume of 371,379. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.84 and a quick ratio of 1.74. The company has a market capitalization of $848.33, a P/E ratio of 44.28 and a beta of 1.31. New Media Investment Group has a 12-month low of $11.87 and a 12-month high of $16.99.

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The company also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Wednesday, November 8th will be issued a $0.37 dividend. The ex-dividend date is Tuesday, November 7th. This is an increase from New Media Investment Group’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a yield of 9.33%. New Media Investment Group’s payout ratio is currently -704.76%.

A number of institutional investors have recently made changes to their positions in NEWM. BlackRock Inc. raised its holdings in New Media Investment Group by 32,660.2% in the first quarter. BlackRock Inc. now owns 6,686,036 shares of the company’s stock worth $95,009,000 after purchasing an additional 6,665,627 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in New Media Investment Group by 27.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,978,862 shares of the company’s stock worth $26,676,000 after purchasing an additional 426,816 shares in the last quarter. Vanguard Group Inc. raised its holdings in New Media Investment Group by 4.8% in the first quarter. Vanguard Group Inc. now owns 4,766,528 shares of the company’s stock worth $67,732,000 after purchasing an additional 220,340 shares in the last quarter. Clark Estates Inc. NY purchased a new stake in shares of New Media Investment Group during the second quarter worth about $2,898,000. Finally, Citadel Advisors LLC grew its stake in shares of New Media Investment Group by 67.0% during the second quarter. Citadel Advisors LLC now owns 430,160 shares of the company’s stock worth $5,799,000 after acquiring an additional 172,615 shares during the last quarter. Institutional investors and hedge funds own 75.15% of the company’s stock.

New Media Investment Group Company Profile

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.

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