Paloma Partners Management Co reduced its position in shares of New Media Inv Group (NYSE:NEWM) by 61.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,588 shares of the company’s stock after selling 18,311 shares during the quarter. Paloma Partners Management Co’s holdings in New Media Inv Group were worth $194,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Macquarie Group Ltd. bought a new stake in New Media Inv Group during the 3rd quarter valued at about $334,000. Wells Fargo & Company MN boosted its holdings in shares of New Media Inv Group by 2.0% during the 3rd quarter. Wells Fargo & Company MN now owns 1,448,678 shares of the company’s stock valued at $21,425,000 after acquiring an additional 27,911 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of New Media Inv Group by 11.3% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 378,218 shares of the company’s stock valued at $6,347,000 after acquiring an additional 38,338 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of New Media Inv Group by 859.7% during the 4th quarter. Acadian Asset Management LLC now owns 591,686 shares of the company’s stock valued at $9,928,000 after acquiring an additional 530,035 shares during the last quarter. Finally, Algert Global LLC purchased a new stake in shares of New Media Inv Group during the 3rd quarter valued at about $2,308,000. Institutional investors and hedge funds own 80.12% of the company’s stock.
NYSE:NEWM opened at $17.14 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.20 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $912.25, a P/E ratio of 31.74 and a beta of 1.18. New Media Inv Group has a 12-month low of $11.87 and a 12-month high of $17.95.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 22nd. Shareholders of record on Wednesday, March 14th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 8.63%. The ex-dividend date of this dividend was Tuesday, March 13th. New Media Inv Group’s dividend payout ratio is currently 274.07%.
A number of analysts have recently issued reports on NEWM shares. Zacks Investment Research raised shares of New Media Inv Group from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Wednesday, January 3rd. TheStreet raised shares of New Media Inv Group from a “c” rating to a “b-” rating in a report on Wednesday, February 28th.
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New Media Inv Group Profile
New Media Investment Group Inc invests in, owns, and operates local media assets in the United States. The company's principal products include 142 daily newspapers with total paid circulation of approximately 1.5 million; 326 weekly newspapers with total paid circulation of approximately 318,000 and total free circulation of approximately 2.0 million; 140 shoppers with total circulation of approximately 3.5 million; and 569 locally-focused Websites, including Internet and mobile devices with approximately 290 million page views per month.
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