New Media Investment Group Inc (NEWM) : Trishield Capital Management has sold out all of its stake in New Media Investment Group Inc during the most recent quarter, according to the disclosure filed by the company on Aug 15, 2016 with the SEC. The investment management company has sold out 834,322 shares of New Media Investment Group Inc which is valued at $14,116,728.
Other Hedge Funds, Including , Gotham Asset Management reduced its stake in NEWM by selling 50,956 shares or 67.03% in the most recent quarter. The Hedge Fund company now holds 25,062 shares of NEWM which is valued at $424,049. Stevens Capital Management Lp sold out all of its stake in NEWM during the most recent quarter. The investment firm sold 13,013 shares of NEWM which is valued $220,180.Blackrock Advisors reduced its stake in NEWM by selling 9,323 shares or 32.54% in the most recent quarter. The Hedge Fund company now holds 19,324 shares of NEWM which is valued at $326,962.Gilman Hill Asset Management boosted its stake in NEWM in the latest quarter, The investment management firm added 9,184 additional shares and now holds a total of 264,377 shares of New Media Investment Group Inc which is valued at $5,208,227. New Media Investment Group Inc makes up approx 2.07% of Gilman Hill Asset Management’s portfolio.
New Media Investment Group Inc closed down -0.07 points or -0.44% at $15.91 with 2,35,652 shares getting traded on Thursday. Post opening the session at $16.02, the shares hit an intraday low of $15.75 and an intraday high of $16.02 and the price fluctuated in this range throughout the day.Shares ended Thursday 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. New Media Investment Group Inc was Downgraded by Citigroup to ” Sell” on Aug 24, 2016. Shares were Reiterated by Barrington Research on Aug 15, 2016 to “Outperform” and Lowered the Price Target to $ 19 from a previous price target of $22 .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 .
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