Emerald Acquisition Ltd. bought a new stake in The New York Times Co. (NYSE:NYT) during the second quarter, Holdings Channel reports. The fund bought 89,897 shares of the company’s stock, valued at approximately $1,087,000. Emerald Acquisition Ltd. owned about 0.06% of The New York Times as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. LMR Partners LLP purchased a new stake in shares of The New York Times during the second quarter worth approximately $125,000. Boothbay Fund Management LLC purchased a new stake in shares of The New York Times during the first quarter worth approximately $135,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of The New York Times during the first quarter worth approximately $144,000. HBK Investments L P purchased a new stake in shares of The New York Times during the first quarter worth approximately $281,000. Finally, Bank of Montreal Can purchased a new stake in shares of The New York Times during the second quarter worth approximately $492,000. Institutional investors and hedge funds own 62.86% of the company’s stock.
Shares of The New York Times Co. (NYSE:NYT) traded down 1.42% during trading on Friday, hitting $11.80. 717,271 shares of the stock traded hands. The New York Times Co. has a 1-year low of $11.45 and a 1-year high of $14.27. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 36.42 and a beta of 1.62. The stock has a 50 day moving average price of $12.54 and a 200-day moving average price of $12.45.
The New York Times (NYSE:NYT) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.11 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.11. The business earned $372.60 million during the quarter, compared to analyst estimates of $377.15 million. The New York Times had a net margin of 3.36% and a return on equity of 13.70%. The New York Times’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.13 EPS. Equities analysts forecast that The New York Times Co. will post $0.58 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Wednesday, October 5th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $0.16 dividend on an annualized basis and a yield of 1.36%. The New York Times’s dividend payout ratio (DPR) is presently 50.00%.
NYT has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of The New York Times from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research note on Tuesday, July 12th. TheStreet raised shares of The New York Times from a “hold” rating to a “buy” rating in a research report on Thursday, August 4th. Finally, Jefferies Group reissued a “hold” rating and issued a $13.00 price objective on shares of The New York Times in a research report on Wednesday, September 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The New York Times presently has a consensus rating of “Hold” and an average target price of $13.60.
In other The New York Times news, EVP Levien Meredith A. Kopit sold 26,728 shares of the business’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $13.06, for a total transaction of $349,067.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kenneth A. Richieri sold 24,942 shares of the business’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $12.95, for a total transaction of $322,998.90. Following the sale, the executive vice president now owns 50,203 shares of the company’s stock, valued at approximately $650,128.85. The disclosure for this sale can be found here. Company insiders own 6.20% of the company’s stock.
About The New York Times
The New York Times Company is a media organization focused on creating, collecting and distributing news and information. The Company includes newspapers, digital businesses and investments. Its businesses include newspapers, such as The New York Times; the International New York Times (INYT), the international edition of The Times; Websites, including NYTimes.com and international.nytimes.com; mobile applications, including The Times’s news applications, as well as interest-specific applications, such as NYT Cooking, Crossword and others, and related businesses, such as The Times news services division, digital archive distribution, NYT Live, and other products and services under The Times brand.
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