The New York Times Company $NYT Shares Sold by AlphaQuest LLC

AlphaQuest LLC cut its holdings in shares of The New York Times Company (NYSE:NYT) by 33.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,134 shares of the company’s stock after selling 6,034 shares during the period. AlphaQuest LLC’s holdings in New York Times were worth $679,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NYT. Acadian Asset Management LLC lifted its stake in New York Times by 383.0% during the first quarter. Acadian Asset Management LLC now owns 1,765,338 shares of the company’s stock valued at $87,538,000 after purchasing an additional 1,399,865 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of New York Times by 101.6% during the first quarter. AQR Capital Management LLC now owns 2,351,100 shares of the company’s stock valued at $115,627,000 after acquiring an additional 1,184,729 shares during the period. Allianz Asset Management GmbH raised its holdings in shares of New York Times by 210.7% during the first quarter. Allianz Asset Management GmbH now owns 1,609,513 shares of the company’s stock valued at $79,832,000 after acquiring an additional 1,091,430 shares during the period. Burgundy Asset Management Ltd. raised its holdings in shares of New York Times by 65.2% during the first quarter. Burgundy Asset Management Ltd. now owns 2,325,224 shares of the company’s stock valued at $115,331,000 after acquiring an additional 917,766 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of New York Times during the first quarter valued at approximately $37,500,000. 95.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of New York Times in a report on Wednesday, October 8th. Barclays set a $52.00 price target on shares of New York Times and gave the company an “equal weight” rating in a report on Thursday, August 7th. Morgan Stanley upped their price objective on shares of New York Times from $54.00 to $59.00 and gave the company an “equal weight” rating in a research note on Thursday, August 7th. Evercore ISI upped their price objective on shares of New York Times from $60.00 to $67.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Finally, Guggenheim upped their price objective on shares of New York Times from $55.00 to $56.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.33.

Insider Transactions at New York Times

In other news, EVP William Bardeen sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $58.04, for a total transaction of $290,200.00. Following the completion of the transaction, the executive vice president directly owned 11,243 shares of the company’s stock, valued at approximately $652,543.72. This trade represents a 30.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jacqueline M. Welch sold 5,500 shares of the firm’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $60.04, for a total transaction of $330,220.00. Following the transaction, the executive vice president directly owned 14,470 shares of the company’s stock, valued at $868,778.80. The trade was a 27.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by company insiders.

New York Times Stock Up 0.7%

Shares of NYT opened at $57.41 on Tuesday. The company’s fifty day moving average is $57.66 and its 200-day moving average is $55.51. The New York Times Company has a 12 month low of $44.83 and a 12 month high of $62.24. The firm has a market cap of $9.35 billion, a price-to-earnings ratio of 29.59, a price-to-earnings-growth ratio of 1.44 and a beta of 1.16.

New York Times (NYSE:NYT) last posted its earnings results on Wednesday, August 6th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.08. The business had revenue of $685.90 million for the quarter, compared to analyst estimates of $670.22 million. New York Times had a net margin of 11.92% and a return on equity of 19.55%. New York Times’s revenue was up 9.7% compared to the same quarter last year. During the same period last year, the business posted $0.45 EPS. As a group, research analysts predict that The New York Times Company will post 2.08 earnings per share for the current fiscal year.

New York Times Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 23rd. Stockholders of record on Wednesday, October 8th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Wednesday, October 8th. New York Times’s dividend payout ratio (DPR) is presently 37.11%.

New York Times Company Profile

The New York Times Company, together with its subsidiaries, creates, collects, and distributes news and information worldwide. The company operates through two segments, The New York Times Group and The Athletic. It offers The New York Times (The Times) through company’s mobile application, website, printed newspaper, and associated content, such as podcast.