New Media Investment Group Inc (NEWM) CFO Gregory William Freiberg Sells 85,000 Shares

New Media Investment Group Inc (NYSE:NEWM) CFO Gregory William Freiberg sold 85,000 shares of the business’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $14.24, for a total transaction of $1,210,400.00. Following the sale, the chief financial officer now owns 37,897 shares in the company, valued at $539,653.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Shares of NYSE:NEWM traded down $0.13 during midday trading on Friday, hitting $14.07. 18,330 shares of the stock were exchanged, compared to its average volume of 500,674. The company has a market capitalization of $857.42 million, a PE ratio of 26.11 and a beta of 1.07. The company has a quick ratio of 1.13, a current ratio of 1.25 and a debt-to-equity ratio of 0.55. New Media Investment Group Inc has a twelve month low of $13.90 and a twelve month high of $19.10.

New Media Investment Group (NYSE:NEWM) last released its quarterly earnings results on Wednesday, October 31st. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.24). The firm had revenue of $380.42 million for the quarter, compared to analyst estimates of $398.45 million. New Media Investment Group had a return on equity of 4.17% and a net margin of 2.08%. The company’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.04) EPS. As a group, equities analysts anticipate that New Media Investment Group Inc will post 0.72 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Stockholders of record on Monday, November 12th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 10.80%. The ex-dividend date of this dividend is Thursday, November 8th. This is an increase from New Media Investment Group’s previous quarterly dividend of $0.37. New Media Investment Group’s payout ratio is 274.07%.

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of New Media Investment Group by 20.1% during the 2nd quarter. BlackRock Inc. now owns 8,543,289 shares of the company’s stock worth $157,881,000 after buying an additional 1,428,170 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in New Media Investment Group by 21.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,516,392 shares of the company’s stock valued at $64,983,000 after purchasing an additional 630,873 shares during the last quarter. Acadian Asset Management LLC raised its stake in New Media Investment Group by 9.9% in the 3rd quarter. Acadian Asset Management LLC now owns 2,249,096 shares of the company’s stock valued at $35,291,000 after purchasing an additional 202,723 shares during the last quarter. Wells Fargo & Company MN raised its stake in New Media Investment Group by 11.4% in the 2nd quarter. Wells Fargo & Company MN now owns 1,686,904 shares of the company’s stock valued at $31,173,000 after purchasing an additional 172,837 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in New Media Investment Group by 0.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,453,280 shares of the company’s stock valued at $22,802,000 after purchasing an additional 7,702 shares during the last quarter. 86.20% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently issued reports on NEWM. ValuEngine downgraded New Media Investment Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Zacks Investment Research downgraded New Media Investment Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 7th.

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About New Media Investment Group

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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