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GCI

Gannett

$9.93

0.12 (1.22%)

, NEWM

New Media

$7.93

-0.035 (-0.44%)

15:01
08/13/19
08/13
15:01
08/13/19
15:01

Leon Cooperman wavers on supporting New Media-Gannett tie-up, NY Post says

Hedge fund activist Leon Cooperman is waffling about his earlier support for the proposed acquisition of Gannett (GCI) by New Media Investment Group (NEWM), the New York Post's Josh Kosman and Keith J. Kelly report. Cooperman, whose Omega Advisors owns a 9.9% interest in New Media, is telling people he will vote against New Media's proposed takeover of Gannett unless the stock reverses its recent slide, Kosman and Kelly say, citing sources. Cooperman believes the deal will only work if New Media's shares surpass $8 a share, the authors note. Reference Link

GCI

Gannett

$9.93

0.12 (1.22%)

NEWM

New Media

$7.93

-0.035 (-0.44%)

  • 01

    Oct

GCI Gannett
$9.93

0.12 (1.22%)

07/22/19
SBSH
07/22/19
UPGRADE
Target $14
SBSH
Buy
New Media upgraded to Buy from Neutral at Citi
Citi analyst Jason Bazinet upgraded New Media Investment Group (NEWM) to Buy from Neutral and raised his price target for the shares to $14 from $10. The analyst's new price target is based on the assumption that New Media acquires Gannett (GCI) as he thinks the likelihood of the transaction occurring is very high following recent media reports. As the synergies come through, there would be a "fairly rapid path" to New Media's leverage falling to around 2.0 times within 24 months of the deal closing, Bazinet tells investors in a research note.
08/06/19
NBLE
08/06/19
DOWNGRADE
NBLE
Market Perform
Gannett downgraded to Market Perform from Outperform at Noble Capital
Noble Capital analyst Michael Kupinski downgraded Gannett (GCI) to Market Perform from Outperform after the company announced a deal to be acquired by New Media Investment Group (NEWM) for roughly $1.4B in cash and stock. He does not foresee regulatory issues or problems with shareholder approval and anticipates a fairly quick closing, noted Kupinski, who thinks it is unlikely that another higher offer emerges.
08/07/19
SBSH
08/07/19
NO CHANGE
Target $11
SBSH
Buy
New Media price target lowered to $11 from $14 at Citi
Citi analyst Jason Bazinet lowered his price target for New Media Investment Group (NEWM) to $11 from $14 saying the company's acquisition of Gannett (GCI) is "not as compelling" as he expected. A higher cost synergy target and Fortress management agreement termination were positive surprises, but the higher offer price, pro-forma debt balance, and interest rate as well as slower synergy realization were negative relative to expectations, Bazinet tells investors in a research note. He maintains a Buy rating on shares of New Media.
NEWM New Media
$7.93

-0.035 (-0.44%)

03/27/19
SBSH
03/27/19
UPGRADE
Target $10
SBSH
Neutral
Citi upgrades New Media to Neutral, sees stock rallying on dividend cut
Citi analyst Jason Bazinet earlier today upgraded New Media Investment Group to Neutral from Sell while lowering his price target for the shares to $10 from $12. At current stock levels, the analyst sees a balanced risk/reward profile. Bazinet no longer sees downside risks over the next 12 months and believes that if New Media cuts its dividend, the equity may rally. As such, he no longer believes a Sell rating is warranted. The analyst outlines three potential paths going forward: New Media maintains the dividend and continues to pursue acquisitions, the company maintains the dividend and stops M&A, or it reduces the dividend. The stock in morning trading is up 4c to $11.10.

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ANGI

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AAPL

Apple

$206.44

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Avangrid

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$63.46

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Norwegian Cruise Line

$50.48

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RM

Regional Management

$27.12

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RTN

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WEN

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BRY

Berry Petroleum

$8.59

0.39 (4.76%)

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CSWI

CSW Industrials

$70.20

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OAS

Oasis Petroleum

$3.03

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EE

El Paso Electric

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HON

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MBRX

Moleculin Biotech

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VIVE

Viveve

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PRGO

Perrigo

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UAL

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MBIO

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BCLI

BrainStorm

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WLK

Westlake Chemical

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GIG

GigCapital

$10.30

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