New Media Investment Group Inc. (NYSE:NEWM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday.

According to Zacks, “New Media Investment Group, Inc. is an online advertising and digital marketing company. The company’s core products include daily newspapers; weekly newspapers; locally focused Websites; mobile sites and yellow page directories. Its print and online products provide local market news and information that covers various topics, such as local news and politics, community and regional events, youth sports, opinion and editorial pages, and local schools. It also invests in diversified portfolio of local media assets. New Media Investment Group Inc. is based in New York. “

A number of other analysts have also recently commented on NEWM. Compass Point cut New Media Investment Group from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $21.00 to $20.00 in a research report on Friday, July 29th. Barrington Research decreased their price objective on New Media Investment Group from $22.00 to $19.00 and set an “outperform” rating for the company in a report on Monday, August 15th. TheStreet cut New Media Investment Group from a “buy” rating to a “hold” rating in a report on Monday, August 29th. Finally, Citigroup Inc. cut New Media Investment Group from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $17.00 to $13.00 in a report on Wednesday, August 24th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $17.00.

Shares of New Media Investment Group (NYSE:NEWM) opened at 15.66 on Wednesday. The firm’s 50-day moving average is $15.12 and its 200-day moving average is $16.62. The firm has a market cap of $697.43 million, a P/E ratio of 9.55 and a beta of 1.28. New Media Investment Group has a 52-week low of $13.95 and a 52-week high of $20.11.

New Media Investment Group (NYSE:NEWM) last posted its quarterly earnings data on Thursday, October 27th. The company reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.13 by $0.07. The business earned $306.80 million during the quarter, compared to analyst estimates of $308.80 million. New Media Investment Group had a return on equity of 6.50% and a net margin of 5.86%. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.14 EPS. Analysts anticipate that New Media Investment Group will post $0.85 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 17th. Investors of record on Wednesday, November 9th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 8.94%. The ex-dividend date of this dividend was Monday, November 7th. This is a positive change from New Media Investment Group’s previous quarterly dividend of $0.33. New Media Investment Group’s payout ratio is currently 85.37%.

In other New Media Investment Group news, CEO Michael Reed purchased 50,000 shares of the business’s stock in a transaction that occurred on Thursday, November 3rd. The stock was purchased at an average price of $14.34 per share, for a total transaction of $717,000.00. Following the purchase, the chief executive officer now directly owns 165,769 shares in the company, valued at $2,377,127.46. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Leon G. Cooperman purchased 30,000 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The stock was acquired at an average price of $15.40 per share, with a total value of $462,000.00. Following the purchase, the insider now owns 750,000 shares in the company, valued at $11,550,000. The disclosure for this purchase can be found here. 3.46% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. SignalPoint Asset Management LLC raised its position in shares of New Media Investment Group by 6.9% in the second quarter. SignalPoint Asset Management LLC now owns 30,864 shares of the company’s stock valued at $558,000 after buying an additional 1,983 shares in the last quarter. Monarch Partners Asset Management LLC raised its position in shares of New Media Investment Group by 23.0% in the second quarter. Monarch Partners Asset Management LLC now owns 25,792 shares of the company’s stock valued at $466,000 after buying an additional 4,820 shares in the last quarter. Gargoyle Investment Advisor L.L.C. acquired a new position in shares of New Media Investment Group during the second quarter valued at $482,000. Capital Fund Management S.A. acquired a new position in shares of New Media Investment Group during the second quarter valued at $188,000. Finally, Strs Ohio acquired a new position in shares of New Media Investment Group during the second quarter valued at $274,000. Hedge funds and other institutional investors own 78.69% of the company’s stock.

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About New Media Investment Group

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.

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