Citigroup Downgrades New Media Investment to Hold

By George MacDonald

Citigroup analyst Jason Bazinet downgraded New Media Investment (NYSE: NEWM) to Hold today and set a price target of $17. The company’s shares closed yesterday at $16.23.

New Media Investment has an analyst consensus of Hold, with a price target consensus of $17.

New Media Investment`s market cap is currently $729.2M and has a P/E ratio of 10.75. The company has a book value ratio of 1.1214%.

Unlike Citigroup`s latest rating, based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is negative on the stock. Most recently, in December 2015, Leon Cooperman, a a Major Shareholder at NEWM sold 1,165,782 shares for a total of $21,497,020.

According to TipRanks.com, Bazinet is a 4-star analyst with an average return of 9.8% and a 63.2% success rate. Bazinet covers the Services sector, focusing on stocks such as Liberty Interactive (QVCA), Live Nation Entertainment, and Lamar Advertising.

New Media Investment Group, Inc. owns, operates and invests in local media assets. It invests in a diversified portfolio of local media assets, and on growing existing advertising and digital marketing businesses. The company was founded on June 18, 2013 and is headquartered in New York, NY.