LMR Partners LLP purchased a new position in shares of The New York Times Co. (NYSE:NYT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 10,274 shares of the company’s stock, valued at approximately $125,000.
A number of other large investors have also recently added to or reduced their stakes in NYT. Boothbay Fund Management LLC purchased a new stake in The New York Times during the first quarter worth $135,000. Schonfeld Strategic Advisors LLC bought a new position in shares of The New York Times during the first quarter worth about $144,000. HBK Investments L P bought a new position in shares of The New York Times during the first quarter worth about $281,000. Bank of Montreal Can bought a new position in shares of The New York Times during the second quarter worth about $492,000. Finally, Royal Bank of Canada boosted its position in shares of The New York Times by 284.5% in the first quarter. Royal Bank of Canada now owns 46,425 shares of the company’s stock worth $578,000 after buying an additional 34,350 shares during the period. Institutional investors and hedge funds own 62.86% of the company’s stock.
Shares of The New York Times Co. (NYSE:NYT) traded down 0.43% on Friday, hitting $11.55. The stock had a trading volume of 284,803 shares. The New York Times Co. has a 12 month low of $11.45 and a 12 month high of $14.27. The company has a 50 day moving average price of $12.34 and a 200-day moving average price of $12.42. The stock has a market cap of $1.86 billion, a PE ratio of 35.65 and a beta of 1.62.
The New York Times (NYSE:NYT) last issued its earnings results on Thursday, July 28th. The company reported $0.11 earnings per share for the quarter, hitting the consensus estimate of $0.11. The company earned $372.60 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.13 EPS. On average, equities research analysts anticipate that The New York Times Co. will post $0.58 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 20th. Investors of record on Wednesday, October 5th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Monday, October 3rd. The New York Times’s dividend payout ratio is currently 50.00%.
NYT has been the topic of a number of recent research reports. Zacks Investment Research raised The New York Times from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Tuesday, July 12th. Jefferies Group reaffirmed a “hold” rating and set a $13.00 price objective on shares of The New York Times in a research note on Friday, July 29th. Finally, TheStreet raised The New York Times from a “hold” rating to a “buy” rating in a research note on Thursday, August 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The New York Times currently has an average rating of “Hold” and an average target price of $13.60.
In related news, EVP Levien Meredith A. Kopit sold 26,728 shares of the company’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $13.06, for a total value of $349,067.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kenneth A. Richieri sold 24,942 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $12.95, for a total transaction of $322,998.90. Following the completion of the transaction, the executive vice president now directly owns 50,203 shares of the company’s stock, valued at approximately $650,128.85. The disclosure for this sale can be found here. 6.20% of the stock is currently owned by corporate insiders.
The New York Times Company Profile
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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