New Media Investment Group Inc (NEWM) : Shikiar Asset Management Inc scooped up 26,400 additional shares in New Media Investment Group Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 20, 2016. The investment management firm now holds a total of 302,475 shares of New Media Investment Group Inc which is valued at $5,958,758.New Media Investment Group Inc makes up approximately 2.54% of Shikiar Asset Management Inc’s portfolio.
Other Hedge Funds, Including , Simplex Trading sold out all of its stake in NEWM during the most recent quarter. The investment firm sold 332 shares of NEWM which is valued $6,517.Alpha Windward reduced its stake in NEWM by selling 3,000 shares or 11.21% in the most recent quarter. The Hedge Fund company now holds 23,760 shares of NEWM which is valued at $447,401. New Media Investment Group Inc makes up approx 0.32% of Alpha Windward’s portfolio. Bnp Paribas Arbitrage Sa added NEWM to its portfolio by purchasing 1,904 company shares during the most recent quarter which is valued at $35,852.
New Media Investment Group Inc opened for trading at $19.72 and hit $19.74 on the upside on Wednesday, eventually ending the session at $19.63, with a gain of 0.31% or 0.06 points. The heightened volatility saw the trading volume jump to 1,22,964 shares. Company has a market cap of $881 M.
On the company’s financial health, New Media Investment Group Inc reported $0.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.03. The company had revenue of $300.10 million for the quarter, compared to analysts expectations of $296.27 million. The company’s revenue was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.14 EPS.
Many Wall Street Analysts have commented on New Media Investment Group Inc. Shares were Reiterated by Compass Point on Apr 29, 2016 to “Buy” and Lowered the Price Target to $ 21 from a previous price target of $24 .
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