New Media Investment Group (NYSE:NEWM) Sees Strong Trading Volume

New Media Investment Group Inc (NYSE:NEWM) shares saw strong trading volume on Friday . 2,423,121 shares were traded during trading, an increase of 420% from the previous session’s volume of 465,952 shares.The stock last traded at $9.81 and had previously closed at $9.07.

Separately, Citigroup assumed coverage on Boeing in a research note on Wednesday, March 27th. They issued a “buy” rating on the stock.

The company has a 50 day moving average of $9.35. The company has a quick ratio of 0.90, a current ratio of 0.99 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $549.01 million, a P/E ratio of 23.15 and a beta of 1.13.

New Media Investment Group (NYSE:NEWM) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.01) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.01). The company had revenue of $387.60 million for the quarter. New Media Investment Group had a return on equity of 3.12% and a net margin of 0.62%. New Media Investment Group’s revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.01) earnings per share.

Institutional investors have recently bought and sold shares of the stock. Texas Permanent School Fund increased its holdings in New Media Investment Group by 4.1% in the first quarter. Texas Permanent School Fund now owns 36,977 shares of the company’s stock worth $388,000 after purchasing an additional 1,465 shares in the last quarter. BlackRock Inc. increased its holdings in New Media Investment Group by 2.8% in the fourth quarter. BlackRock Inc. now owns 8,862,925 shares of the company’s stock worth $102,543,000 after purchasing an additional 239,673 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in New Media Investment Group by 2.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 37,824 shares of the company’s stock worth $438,000 after purchasing an additional 831 shares in the last quarter. Cowen Prime Services LLC increased its holdings in New Media Investment Group by 1.2% in the first quarter. Cowen Prime Services LLC now owns 144,200 shares of the company’s stock worth $1,514,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Norges Bank bought a new stake in New Media Investment Group in the fourth quarter worth approximately $14,590,000. 85.95% of the stock is currently owned by institutional investors.

About New Media Investment Group (NYSE:NEWM)

New Media Investment Group Inc invests in, owns, and operates local media assets in the United States. The company's principal products include 146 daily newspapers with total paid circulation of approximately 1.5 million; 323 weekly newspapers with total paid circulation of approximately 268,000 and total free circulation of approximately 1.4 million; 132 shoppers with total circulation of approximately 3.1 million; and 581 locally-focused Websites, including Internet and mobile devices with approximately 364 million page views per month.

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