8,066 Shares in The New York Times Company $NYT Purchased by Andina Capital Management LLC

Key Points

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Andina Capital Management LLC purchased a new stake in The New York Times Company (NYSE:NYT - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 8,066 shares of the company's stock, valued at approximately $400,000.

Other large investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in New York Times by 109.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,373 shares of the company's stock valued at $1,259,000 after acquiring an additional 13,248 shares in the last quarter. Asset Management One Co. Ltd. bought a new stake in New York Times in the first quarter valued at $250,000. Centiva Capital LP boosted its holdings in New York Times by 58.6% in the fourth quarter. Centiva Capital LP now owns 36,031 shares of the company's stock valued at $1,875,000 after acquiring an additional 13,311 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in New York Times by 164.0% in the first quarter. State of Alaska Department of Revenue now owns 49,119 shares of the company's stock valued at $2,436,000 after acquiring an additional 30,515 shares in the last quarter. Finally, Element Capital Management LLC bought a new stake in New York Times in the first quarter valued at $2,742,000. Institutional investors own 95.37% of the company's stock.

Insider Activity at New York Times

In related news, EVP William Bardeen sold 5,000 shares of New York Times stock in a transaction dated 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David S. Perpich sold 4,000 shares of New York Times stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $56.18, for a total value of $224,720.00. Following the completion of the sale, the director owned 27,569 shares of the company's stock, valued at $1,548,826.42. The trade was a 12.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,490 shares of company stock valued at $769,928 over the last ninety days. Insiders own 1.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NYT. Citigroup reiterated a "buy" rating on shares of New York Times in a report on Thursday, June 12th. 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. Evercore ISI lifted their price target on shares of New York Times from $60.00 to $67.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Morgan Stanley raised their price objective on New York Times from $54.00 to $59.00 and gave the company an "equal weight" rating in a research report on Thursday, August 7th. Finally, Guggenheim raised their price objective on New York Times from $55.00 to $56.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $60.33.

New York Times Stock Performance

Shares of NYT traded up $0.1150 during trading hours on Friday, hitting $59.7650. The company had a trading volume of 1,411,013 shares, compared to its average volume of 2,298,475. The firm has a fifty day moving average price of $55.79 and a 200-day moving average price of $52.57. The stock has a market capitalization of $9.73 billion, a price-to-earnings ratio of 30.81, a P/E/G ratio of 1.50 and a beta of 1.09. The New York Times Company has a 52-week low of $44.83 and a 52-week high of $62.24.

New York Times (NYSE:NYT - Get Free Report) last posted 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 firm had revenue of $685.90 million during the quarter, compared to analyst estimates of $670.22 million. New York Times had a return on equity of 19.55% and a net margin of 11.92%.New York Times's quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.45 EPS. Research analysts anticipate 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 declared a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Wednesday, July 9th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Wednesday, July 9th. New York Times's dividend payout ratio 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.