Analysts Downgrades Report: New Media Investment Group Inc

New Media Investment Group Inc (NYSE:NEWM) received a stock rating downgrade from Citigroup on Apr-05-16. In a note to investors, the firm issued a Neutral rating. The analysts previously had a Buy rating on the stock.

Analysts have a consensus target price of $25.80 in the 12-month period. The price objective is 73.74% higher than the recent closing price of $14.85. The 52-week price range is $13.42-$22.56 and the company has a market capitalization of $677.46 billion. Analysts covering the shares maintain a consensus Strong Buy rating, according to Zacks Investment Research. Zero analyst has rated the stock with a sell rating, 0 has assigned a hold rating, 0 says it’s a buy, and 2 have assigned a strong buy rating to the company.

New Media Investment Group Inc (NEWM) on March 22, 2016 announced that Propel Business Services, Inc. d/b/a Propel Marketing (“Propel”), a leading national provider of digital marketing products and solutions for local businesses, has acquired ThriveHive for $11.8 million funded with cash on the balance sheet.

ThriveHive is a Massachusetts-based firm known for its award-winning marketing software designed specifically for small businesses. The acquisition brings together two Boston area companies and reinforces Propel’s status as a dynamic leader in the SMB digital marketing ecosystem.

Michael Reed, New Media’s President and CEO commented, “We are thrilled to announce this exciting acquisition. ThriveHive is a turnkey proprietary software platform that enables SMB owners to run their own digital and contact marketing campaigns. This technology is the perfect complement to Propel’s Do-It-For-Me approach, and allows us to meet the needs of the full spectrum of SMBs. Looking ahead, we believe this acquisition will help drive higher margins for the overall business by transforming Propel from a marketing services reseller company into a software and technology platform company.”

“ThriveHive’s technology platform, combined with Propel’s unique market access and ability to deliver a full suite of marketing solutions, makes this incredibly exciting,” said Propel’s Chief Executive Officer, Peter Cannone. “This relationship furthers Propel’s vision to be the most trusted digital marketing solutions brand for local businesses across the U.S.”

ThriveHive co-founder and Chief Executive Officer Max Faingezicht added, “We’re thrilled to be able to bring together the talents and assets of two teams that both share a similar mission — helping local businesses compete and succeed in the digital marketplace.”

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