New Media Investment Group Inc (NEWM) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of New Media Investment Group Inc (NYSE:NEWM) by 86.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,952 shares of the company’s stock after acquiring an additional 38,052 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.14% of New Media Investment Group worth $1,286,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its position in New Media Investment Group by 0.9% in the 3rd quarter. BlackRock Inc. now owns 8,623,252 shares of the company’s stock valued at $135,300,000 after buying an additional 79,963 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of New Media Investment Group by 16.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,084,486 shares of the company’s stock valued at $64,085,000 after purchasing an additional 568,094 shares during the period. Acadian Asset Management LLC lifted its stake in shares of 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 period. Wells Fargo & Company MN lifted its stake in shares of 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 period. Finally, Bank of New York Mellon Corp lifted its stake in shares of 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 period. Institutional investors and hedge funds own 86.96% of the company’s stock.

A number of research firms have recently weighed in on NEWM. Zacks Investment Research raised New Media Investment Group from a “sell” rating to a “hold” rating in a research note on Saturday, October 13th. TheStreet downgraded New Media Investment Group from a “b-” rating to a “c+” rating in a research note on Wednesday, November 14th.

In other New Media Investment Group news, COO Kirk A. Davis acquired 6,750 shares of the company’s stock in a transaction that occurred on Thursday, November 8th. The shares were acquired at an average price of $14.20 per share, with a total value of $95,850.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Gregory William Freiberg sold 85,000 shares of the firm’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $14.24, for a total value of $1,210,400.00. Following the sale, the chief financial officer now directly owns 37,897 shares in the company, valued at approximately $539,653.28. The disclosure for this sale can be found here. In the last three months, insiders bought 96,750 shares of company stock worth $1,379,550. 2.23% of the stock is currently owned by company insiders.

NEWM stock opened at $12.75 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.25. The firm has a market capitalization of $775.42 million, a PE ratio of 23.83 and a beta of 1.06. New Media Investment Group Inc has a twelve month low of $12.55 and a twelve month high of $19.10.

New Media Investment Group (NYSE:NEWM) last posted its quarterly earnings results on Wednesday, October 31st. The company reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.24). The company had revenue of $380.42 million during the quarter, compared to analyst estimates of $398.45 million. New Media Investment Group had a net margin of 2.08% and a return on equity of 4.17%. The business’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same period last year, the company earned ($0.04) EPS. On average, analysts expect that New Media Investment Group Inc will post 0.79 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 20th. Stockholders of record on Monday, November 12th were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, November 8th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 11.92%. This is an increase from New Media Investment Group’s previous quarterly dividend of $0.37. New Media Investment Group’s dividend payout ratio is 281.48%.

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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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Institutional Ownership by Quarter for New Media Investment Group (NYSE:NEWM)

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