Jane Street Group LLC Buys New Holdings in New Media Investment Group Inc (NEWM)

Jane Street Group LLC bought a new stake in New Media Investment Group Inc (NYSE:NEWM) in the second quarter, Holdings Channel reports. The fund bought 31,929 shares of the company’s stock, valued at approximately $590,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. grew its stake in New Media Investment Group by 12.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 426,724 shares of the company’s stock worth $7,315,000 after buying an additional 48,506 shares during the period. BlackRock Inc. grew its stake in New Media Investment Group by 0.5% during the first quarter. BlackRock Inc. now owns 7,115,119 shares of the company’s stock worth $121,951,000 after buying an additional 34,981 shares during the period. JPMorgan Chase & Co. grew its stake in New Media Investment Group by 824.8% during the first quarter. JPMorgan Chase & Co. now owns 102,057 shares of the company’s stock worth $1,749,000 after buying an additional 91,021 shares during the period. Great West Life Assurance Co. Can grew its stake in New Media Investment Group by 6.3% during the first quarter. Great West Life Assurance Co. Can now owns 77,011 shares of the company’s stock worth $1,320,000 after buying an additional 4,534 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in New Media Investment Group by 11.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,885,519 shares of the company’s stock worth $49,458,000 after buying an additional 298,236 shares during the period. Hedge funds and other institutional investors own 86.37% of the company’s stock.

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NEWM has been the subject of several research reports. ValuEngine upgraded shares of New Media Investment Group from a “hold” rating to a “buy” rating in a research note on Friday, June 15th. Zacks Investment Research downgraded shares of New Media Investment Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 7th. Finally, TheStreet upgraded shares of New Media Investment Group from a “c” rating to a “b-” rating in a research note on Monday, July 2nd.

Shares of NEWM stock opened at $15.50 on Friday. The firm has a market capitalization of $946.00 million, a PE ratio of 28.70 and a beta of 1.01. The company has a quick ratio of 1.21, a current ratio of 1.32 and a debt-to-equity ratio of 0.52. New Media Investment Group Inc has a twelve month low of $14.25 and a twelve month high of $19.10.

New Media Investment Group (NYSE:NEWM) last announced its earnings results on Thursday, August 2nd. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.04). The firm had revenue of $388.80 million during the quarter, compared to analysts’ expectations of $367.84 million. New Media Investment Group had a net margin of 2.46% and a return on equity of 5.60%. New Media Investment Group’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.41) earnings per share. On average, research analysts predict that New Media Investment Group Inc will post 0.72 EPS for the current year.

In other news, CEO Michael Reed bought 32,000 shares of the firm’s stock in a transaction dated Monday, August 13th. The stock was acquired at an average cost of $15.74 per share, for a total transaction of $503,680.00. Following the completion of the purchase, the chief executive officer now owns 302,361 shares of the company’s stock, valued at $4,759,162.14. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 2.23% of the stock is currently owned by corporate insiders.

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

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