Cerity Partners LLC Buys 15,265 Shares of The New York Times Company (NYSE:NYT)

Cerity Partners LLC boosted its position in shares of The New York Times Company (NYSE:NYT - Free Report) by 88.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,570 shares of the company's stock after buying an additional 15,265 shares during the period. Cerity Partners LLC's holdings in New York Times were worth $1,615,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of NYT. Squarepoint Ops LLC increased its stake in New York Times by 210.5% in the 4th quarter. Squarepoint Ops LLC now owns 1,382,695 shares of the company's stock valued at $71,969,000 after purchasing an additional 937,354 shares in the last quarter. Millennium Management LLC grew its position in shares of New York Times by 133.6% in the fourth quarter. Millennium Management LLC now owns 1,559,837 shares of the company's stock valued at $81,190,000 after purchasing an additional 892,155 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of New York Times by 87.6% during the 4th quarter. Alliancebernstein L.P. now owns 1,908,477 shares of the company's stock worth $99,336,000 after acquiring an additional 891,249 shares during the period. Darsana Capital Partners LP increased its holdings in shares of New York Times by 15.0% during the 4th quarter. Darsana Capital Partners LP now owns 5,750,000 shares of the company's stock worth $299,288,000 after buying an additional 750,000 shares during the last quarter. Finally, Two Sigma Investments LP increased its stake in New York Times by 1,605.6% during the fourth quarter. Two Sigma Investments LP now owns 719,705 shares of the company's stock worth $37,461,000 after acquiring an additional 677,509 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company's stock.

Insider Activity

In other news, Director David S. Perpich sold 4,000 shares of New York Times 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 transaction, the director owned 27,569 shares in the company, valued at approximately $1,548,826.42. This trade represents a 12.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO R Anthony Benten sold 1,990 shares of New York Times stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $56.75, for a total transaction of $112,932.50. Following the sale, the chief accounting officer directly owned 39,685 shares in the company, valued at $2,252,123.75. This trade represents a 4.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,490 shares of company stock valued at $479,728. 1.90% of the stock is owned by company insiders.

Analyst Ratings Changes

NYT has been the topic of several research reports. Wall Street Zen raised New York Times from a "hold" rating to a "buy" rating in a research report on Friday, April 11th. Citigroup reaffirmed a "buy" rating on shares of New York Times in a report on Thursday, June 12th. Finally, Guggenheim boosted their price objective on New York Times from $53.00 to $55.00 and gave the company a "neutral" rating in a report on Monday, June 2nd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $56.40.

New York Times Stock Performance

NYSE:NYT traded down $0.16 during mid-day trading on Thursday, hitting $52.65. The company had a trading volume of 739,679 shares, compared to its average volume of 1,710,639. The firm has a market cap of $8.58 billion, a P/E ratio of 28.61, a P/E/G ratio of 1.46 and a beta of 1.11. The business's fifty day moving average is $55.40 and its two-hundred day moving average is $52.02. The New York Times Company has a fifty-two week low of $44.83 and a fifty-two week high of $58.16.

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

New York Times Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Investors of record on Wednesday, July 9th will be paid a $0.18 dividend. The ex-dividend date is Wednesday, July 9th. This represents a $0.72 annualized dividend and a yield of 1.37%. New York Times's dividend payout ratio (DPR) is presently 39.13%.

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.