New Media Investment Group Inc. (NYSE:NEWM) issued its quarterly earnings data on Thursday. The company reported $0.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by $0.07. The company earned $306.80 million during the quarter, compared to analyst estimates of $308.80 million. New Media Investment Group had a net margin of 5.86% and a return on equity of 6.50%. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period last year, the firm earned $0.14 EPS.
New Media Investment Group (NYSE:NEWM) opened at 14.27 on Monday. The firm’s 50 day moving average price is $15.22 and its 200-day moving average price is $16.62. The firm has a market cap of $635.49 million, a PE ratio of 8.71 and a beta of 1.24. New Media Investment Group has a one year low of $13.95 and a one year high of $20.11.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 17th. Shareholders of record on Wednesday, November 9th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, November 7th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 9.81%. This is a boost from New Media Investment Group’s previous quarterly dividend of $0.33. New Media Investment Group’s dividend payout ratio is presently 80.49%.
In related news, major shareholder Leon G. Cooperman purchased 30,000 shares of the stock in a transaction that occurred on Thursday, August 25th. The shares were purchased at an average price of $15.40 per share, with a total value of $462,000.00. Following the completion of the acquisition, the insider now directly owns 750,000 shares in the company, valued at approximately $11,550,000. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.46% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas raised its position in New Media Investment Group by 19.2% in the second quarter. Teacher Retirement System of Texas now owns 6,207 shares of the company’s stock worth $112,000 after buying an additional 999 shares in the last quarter. Springbok Capital Management LLC raised its position in New Media Investment Group by 69.4% in the first quarter. Springbok Capital Management LLC now owns 8,300 shares of the company’s stock worth $138,000 after buying an additional 3,400 shares in the last quarter. Capital Fund Management S.A. bought a new position in New Media Investment Group during the second quarter worth about $188,000. Eqis Capital Management Inc. bought a new position in New Media Investment Group during the third quarter worth about $169,000. Finally, Nisa Investment Advisors LLC raised its position in New Media Investment Group by 909.1% in the third quarter. Nisa Investment Advisors LLC now owns 11,100 shares of the company’s stock worth $172,000 after buying an additional 10,000 shares in the last quarter. 77.40% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on NEWM shares. Barrington Research cut New Media Investment Group from an “outperform” rating to a “market perform” rating in a report on Thursday, September 29th. Zacks Investment Research raised New Media Investment Group from a “strong sell” rating to a “hold” rating in a report on Friday, September 23rd. Citigroup Inc. cut New Media Investment Group from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $17.00 to $13.00 in a report on Wednesday, August 24th. Finally, TheStreet cut New Media Investment Group from a “buy” rating to a “hold” rating in a report on Monday, August 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $17.00.
New Media Investment Group Company Profile