New Media Investment Group (NYSE:NEWM) Upgraded to Buy at Zacks Investment Research
New Media Investment Group (NYSE:NEWM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, January 3rd. The brokerage presently has a $19.00 price target on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 10.98% from the stock’s current price.
According to Zacks, “New Media Investment Group, Inc. is an online advertising and digital marketing company. The company’s core products include daily newspapers; weekly newspapers; locally focused Websites; mobile sites and yellow page directories. Its print and online products provide local market news and information that covers various topics, such as local news and politics, community and regional events, youth sports, opinion and editorial pages, and local schools. It also invests in diversified portfolio of local media assets. New Media Investment Group Inc. is based in New York. “
Separately, BidaskClub cut shares of New Media Investment Group from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in New Media Investment Group by 2.1% during the 2nd quarter. BlackRock Inc. now owns 6,826,522 shares of the company’s stock worth $92,021,000 after acquiring an additional 140,486 shares during the period. Dimensional Fund Advisors LP grew its holdings in New Media Investment Group by 15.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,288,336 shares of the company’s stock valued at $33,845,000 after buying an additional 309,474 shares in the last quarter. Wells Fargo & Company MN grew its holdings in New Media Investment 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 buying an additional 27,911 shares in the last quarter. State Street Corp grew its holdings in New Media Investment Group by 6.4% during the 2nd quarter. State Street Corp now owns 1,309,928 shares of the company’s stock valued at $17,657,000 after buying an additional 78,311 shares in the last quarter. Finally, Global X MANAGEMENT CO LLC grew its holdings in New Media Investment Group by 5.4% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 640,379 shares of the company’s stock valued at $9,471,000 after buying an additional 32,722 shares in the last quarter. Institutional investors own 78.57% of the company’s stock.
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New Media Investment Group Company Profile
New Media Investment Group Inc is a holding company. The Company owns, operates and invests in local media assets. The Company’s segments include Eastern US Publishing, Central US Publishing, Western US Publishing and BridgeTower. It focuses on owning and acquiring local media assets in small to mid-size markets.
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