New Media Investment Group (NEWM) : 2 brokerage houses believe that New Media Investment Group (NEWM) is a Strong Buy at current levels. 1 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on New Media Investment Group (NEWM). Zacks Investment Research suggests a Hold with a rank of 3.The median of all the 3 Wall Street Analysts endorse the stock as a Buy with a rating of 1.67.
New Media Investment Group (NEWM) : 3 investment research analysts covering New Media Investment Group (NEWM) have an average price target of $22.67 for the near short term. The highest target price given by the Brokerage Firm to the stock is $26 and the lowest target is $20 for the short term. Analysts expect the variance to be within $3.06 of the average price.
For the current week, the company shares have a recommendation consensus of Buy. New Media Investment Group (NYSE:NEWM): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $16.85 and $16.78 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $16.91. The buying momentum continued till the end and the stock did not give up its gains. It closed at $16.84, notching a gain of 0.24% for the day. The total traded volume was 246,319 . The stock had closed at $16.80 on the previous day.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of New Media Investment Group Inc., Tarica Laurence, had purchased 15,000 shares in a transaction dated on May 12, 2016. The transaction was executed at $15.67 per share with total amount equaling $235,050.
New Media Investment Group Inc. is a holding company. The Company is a publisher of locally-based print and online media. The Company owns, operates and invests in local media assets. It focuses on owning and acquiring local media assets in small to mid-size markets. It focuses on business categories, such as consumers and small to medium size businesses (SMBs). Its portfolio of media assets spans across 379 markets and 27 states. Its products include 452 community print publications, 379 Websites, 360 mobile sites and six yellow page directories. Its digital marketing services business, Propel Marketing (Propel), offers a set of turn-key digital marketing services to SMBs that provides results to the business owners. It operates in four publication groups: Small Community Newspapers, Metros, Large Daily Newspapers and Local Media