Gilman Hill Asset Management LLC cut its position in New Media Investment Group Inc (NYSE:NEWM) by 8.1% during the fourth quarter, Holdings Channel reports. The firm owned 257,651 shares of the company’s stock after selling 22,612 shares during the quarter. New Media Investment Group accounts for 1.8% of Gilman Hill Asset Management LLC’s holdings, making the stock its 20th biggest position. Gilman Hill Asset Management LLC’s holdings in New Media Investment Group were worth $4,323,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of New Media Investment Group by 2.1% in the 2nd quarter. BlackRock Inc. now owns 6,826,522 shares of the company’s stock valued at $92,021,000 after purchasing an additional 140,486 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of New Media Investment Group by 45.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 149,011 shares of the company’s stock valued at $2,009,000 after purchasing an additional 46,484 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in shares of New Media Investment Group in the 2nd quarter valued at approximately $911,000. Schwab Charles Investment Management Inc. increased its position in shares of New Media Investment Group by 51.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 308,103 shares of the company’s stock valued at $4,154,000 after purchasing an additional 104,357 shares during the last quarter. Finally, Macquarie Group Ltd. purchased a new stake in shares of New Media Investment Group in the 3rd quarter valued at approximately $334,000. 78.57% of the stock is currently owned by institutional investors.

Shares of New Media Investment Group Inc (NEWM) traded up $0.08 during trading hours on Tuesday, hitting $17.10. 235,619 shares of the company’s stock were exchanged, compared to its average volume of 233,171. New Media Investment Group Inc has a 52 week low of $11.87 and a 52 week high of $17.62. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 1.84. The stock has a market cap of $912.73, a P/E ratio of -81.00 and a beta of 1.35.

A number of equities research analysts have commented on NEWM shares. BidaskClub downgraded shares of New Media Investment Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 25th. Zacks Investment Research raised shares of New Media Investment Group from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research report on Wednesday, January 3rd.

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

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