Today The Delphi Financial Group Inc. Continues to Hold Position in New Media Investment Group Inc. (NEWM)

Today The Delphi Financial Group Inc. Continues to Hold Position in New Media Investment Group Inc. (NEWM)

Delphi Financial Group Inc. held its stake in shares of New Media Investment Group Inc. (NYSE:NEWM) during the fourth quarter, Holdings Channel reports. The fund owned 660,000 shares of the company’s stock at the end of the fourth quarter. New Media Investment Group makes up approximately 3.4% of Delphi Financial Group Inc.’s portfolio, making the stock its 10th largest position. Delphi Financial Group Inc. owned 1.48% of New Media Investment Group worth $10,553,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Teacher Retirement System of Texas increased its stake in shares of 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 valued at $112,000 after buying an additional 999 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of New Media Investment Group during the third quarter valued at $152,000. Crow Point Partners LLC purchased a new stake in shares of New Media Investment Group during the third quarter valued at $156,000. Eqis Capital Management Inc. purchased a new stake in shares of New Media Investment Group during the third quarter valued at $169,000. Finally, Nisa Investment Advisors LLC increased its stake in shares of 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 valued at $172,000 after buying an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 65.85% of the company’s stock.

New Media Investment Group Inc. (NYSE:NEWM) traded up 0.98% during mid-day trading on Wednesday, hitting $15.38. 187,877 shares of the company’s stock were exchanged. New Media Investment Group Inc. has a 52 week low of $13.95 and a 52 week high of $19.89. The firm has a 50 day moving average of $15.89 and a 200 day moving average of $16.18. The stock has a market capitalization of $684.96 million, a P/E ratio of 9.38 and a beta of 1.33.

NEWM has been the topic of several recent research reports. Zacks Investment Research upgraded shares of New Media Investment Group from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Wednesday, October 26th. Barrington Research downgraded shares of New Media Investment Group from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 29th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. New Media Investment Group has an average rating of “Hold” and an average target price of $17.00.

In other New Media Investment Group news, CEO Michael Reed purchased 50,000 shares of the stock in a transaction on Thursday, November 3rd. The shares were purchased at an average price of $14.34 per share, with a total value of $717,000.00. Following the acquisition, the chief executive officer now directly owns 165,769 shares of the company’s stock, valued at approximately $2,377,127.46. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Gregory William Freiberg purchased 10,000 shares of the stock in a transaction on Wednesday, November 23rd. The stock was acquired at an average cost of $16.00 per share, for a total transaction of $160,000.00. Following the acquisition, the chief financial officer now directly owns 117,769 shares in the company, valued at $1,884,304. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 155,000 shares of company stock valued at $2,311,850. Corporate insiders own 3.46% of the company’s stock.

New Media Investment Group Company Profile

New Media Investment Group Inc (New Media) is a holding company. The Company owns, operates and invests in local media assets. It has a focus on owning and acquiring local media assets in small to mid-size markets. The Company is a publisher of locally based print and online media. The Company’s operating segments include Eastern US Publishing, Central US Publishing and Western US Publishing.

Want to see what other hedge funds are holding NEWM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for New Media Investment Group Inc. (NYSE:NEWM).

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