The New York Times Company $NYT Shares Sold by AdvisorShares Investments LLC

AdvisorShares Investments LLC lessened its holdings in shares of The New York Times Company (NYSE:NYT) by 9.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,991 shares of the company’s stock after selling 809 shares during the quarter. AdvisorShares Investments LLC’s holdings in New York Times were worth $447,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Hantz Financial Services Inc. grew its stake in New York Times by 4,591.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 563 shares of the company’s stock valued at $32,000 after purchasing an additional 551 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in New York Times by 690.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 846 shares of the company’s stock valued at $42,000 after purchasing an additional 739 shares in the last quarter. WPG Advisers LLC acquired a new stake in New York Times during the 1st quarter valued at approximately $60,000. UMB Bank n.a. grew its stake in New York Times by 79.3% during the 2nd quarter. UMB Bank n.a. now owns 1,675 shares of the company’s stock valued at $94,000 after purchasing an additional 741 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in New York Times by 20.0% during the 2nd quarter. Blue Trust Inc. now owns 1,769 shares of the company’s stock valued at $99,000 after purchasing an additional 295 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

New York Times Trading Up 1.3%

Shares of NYSE NYT opened at $56.84 on Friday. The company has a market cap of $9.25 billion, a price-to-earnings ratio of 29.30, a price-to-earnings-growth ratio of 1.41 and a beta of 1.16. The New York Times Company has a 12-month low of $44.83 and a 12-month high of $62.24. The stock’s 50 day simple moving average is $57.49 and its 200 day simple moving average is $55.64.

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

New York Times Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have recently commented on NYT. Evercore ISI lifted their target price on New York Times from $60.00 to $67.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Barclays set a $52.00 target price on New York Times and gave the stock an “equal weight” rating in a research report on Thursday, August 7th. Morgan Stanley lifted their target price on New York Times from $54.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 7th. Guggenheim lifted their target price on New York Times from $55.00 to $56.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of New York Times in a research report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, New York Times currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.33.

Insider Activity at New York Times

In related news, EVP Jacqueline M. Welch sold 5,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $60.04, for a total value of $330,220.00. Following the sale, the executive vice president owned 14,470 shares of the company’s stock, valued at approximately $868,778.80. This trade represents a 27.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP William Bardeen sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $58.04, for a total value of $290,200.00. Following the completion of the sale, the executive vice president directly owned 11,243 shares in the company, valued at approximately $652,543.72. This trade represents a 30.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.90% of the company’s stock.

New York Times 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.