New Media Investment Group Inc (NEWM) : Terra Nova Asset Management reduced its stake in New Media Investment Group Inc by 40.5% during the most recent quarter end. The investment management company now holds a total of 32,860 shares of New Media Investment Group Inc which is valued at $644,056 after selling 22,369 shares in New Media Investment Group Inc , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.New Media Investment Group Inc makes up approximately 1.07% of Terra Nova Asset Management’s portfolio.
Other Hedge Funds, Including , Winslow Evans Crocker sold out all of its stake in NEWM during the most recent quarter. The investment firm sold 202 shares of NEWM which is valued $3,979.Acadian Asset Management reduced its stake in NEWM by selling 29,679 shares or 73.14% in the most recent quarter. The Hedge Fund company now holds 10,898 shares of NEWM which is valued at $213,928.Nisa Investment Advisors reduced its stake in NEWM by selling 9,300 shares or 89.42% in the most recent quarter. The Hedge Fund company now holds 1,100 shares of NEWM which is valued at $21,439.
New Media Investment Group Inc closed down -0.36 points or -2.00% at $17.66 with 5,04,312 shares getting traded on Friday. Post opening the session at $17.85, the shares hit an intraday low of $17.31 and an intraday high of $18.16 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
On the company’s financial health, New Media Investment Group Inc reported $0.21 EPS for the quarter, missing the analyst consensus estimate by $ -0.06 based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus of $0.27. The company had revenue of $314.80 million for the quarter, compared to analysts expectations of $313.36 million. The company’s revenue was up 5.1% compared to the same quarter last year.
Many Wall Street Analysts have commented on New Media Investment Group Inc. Shares were Downgraded by Compass Point on Jul 29, 2016 to ” Neutral” and Lowered the Price Target to $ 20 from a previous price target of $21 .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