Wealthquest Corp Purchases New Holdings in The New York Times Company (NYSE:NYT)

Key Points

• Wealthquest Corp acquired 9,391 shares of The New York Times Company (NYSE: NYT), valued at approximately $466,000, according to a recent SEC filing.
• Insider transactions revealed that Director David S. Perpich and EVP William Bardeen sold shares, reducing their ownership by 12.67% and 13.00%, respectively.
• Wall Street analysts upgraded The New York Times stock to a "buy" rating with an average target price of $56.40, reflecting positive market sentiment.

Wealthquest Corp acquired a new position in shares of The New York Times Company (NYSE:NYT - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 9,391 shares of the company's stock, valued at approximately $466,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of NYT. Wealth Enhancement Advisory Services LLC grew its position in New York Times by 109.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,373 shares of the company's stock worth $1,259,000 after purchasing an additional 13,248 shares during the last quarter. Asset Management One Co. Ltd. bought a new stake in shares of New York Times in the first quarter valued at about $250,000. Centiva Capital LP increased its stake in New York Times by 58.6% during 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 during the period. State of Alaska Department of Revenue raised its holdings in New York Times by 164.0% in the 1st 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, Victory Capital Management Inc. lifted its position in shares of New York Times by 123.2% in the 1st quarter. Victory Capital Management Inc. now owns 178,956 shares of the company's stock worth $8,876,000 after acquiring an additional 98,789 shares during the period. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at New York Times

In other New York Times news, CAO R Anthony Benten sold 1,990 shares of the business's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $56.75, for a total value of $112,932.50. Following the transaction, the chief accounting officer owned 39,685 shares of the company's stock, valued at approximately $2,252,123.75. The trade was a 4.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David S. Perpich sold 4,000 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $56.18, for a total value of $224,720.00. Following the sale, the director owned 27,569 shares in the company, valued at $1,548,826.42. The trade was a 12.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,490 shares of company stock valued at $479,728 in the last three months. Corporate insiders own 1.90% of the company's stock.

New York Times Stock Performance

Shares of NYSE NYT traded up $0.37 during midday trading on Friday, reaching $52.26. 1,918,758 shares of the company traded hands, compared to its average volume of 1,698,410. The stock's 50-day simple moving average is $55.02 and its 200-day simple moving average is $52.03. The New York Times Company has a 12 month low of $44.83 and a 12 month high of $58.16. The firm has a market cap of $8.52 billion, a PE ratio of 28.40, a PEG ratio of 1.42 and a beta of 1.09.

New York Times (NYSE:NYT - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.06. The firm had revenue of $635.91 million for the quarter, compared to analyst estimates of $634.99 million. New York Times had a net margin of 11.53% and a return on equity of 18.70%. The company's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.31 earnings per share. On average, equities research analysts expect that The New York Times Company will post 2.08 EPS for the current year.

New York Times Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 24th. Investors 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 yield of 1.4%. The ex-dividend date of this dividend was Wednesday, July 9th. New York Times's dividend payout ratio (DPR) is currently 39.13%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Citigroup restated a "buy" rating on shares of New York Times in a research report on Thursday, June 12th. Wall Street Zen raised shares of New York Times from a "hold" rating to a "buy" rating in a report on Friday, April 11th. Finally, Guggenheim lifted their target price on shares of New York Times from $53.00 to $55.00 and gave the company a "neutral" rating in a research report on Monday, June 2nd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $56.40.

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.