Friedenthal Financial Purchases Shares of 16,032 The New York Times Company $NYT

Friedenthal Financial purchased a new stake in The New York Times Company (NYSE:NYT - Free Report) during the second quarter, according to its most recent filing with the SEC. The fund purchased 16,032 shares of the company's stock, valued at approximately $897,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of NYT. Wealth Enhancement Advisory Services LLC grew its stake in shares of 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 buying an additional 13,248 shares in the last quarter. Asset Management One Co. Ltd. purchased a new position in shares of New York Times in the 1st quarter worth $250,000. State of Alaska Department of Revenue grew its stake in shares of 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 worth $2,436,000 after buying an additional 30,515 shares in the last quarter. Element Capital Management LLC purchased a new position in shares of New York Times in the 1st quarter worth $2,742,000. Finally, Harbor Capital Advisors Inc. grew its stake in shares of New York Times by 29.2% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 30,808 shares of the company's stock worth $1,725,000 after buying an additional 6,957 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Jacqueline M. Welch sold 5,500 shares of the business's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $60.04, for a total value of $330,220.00. Following the completion of the sale, the executive vice president owned 14,470 shares in the company, valued at approximately $868,778.80. The trade was a 27.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP William Bardeen sold 5,000 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $58.04, for a total transaction of $290,200.00. Following the completion of the sale, the executive vice president owned 11,243 shares of the company's stock, valued at approximately $652,543.72. This represents a 30.78% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.90% of the company's stock.

New York Times Price Performance

Shares of NYT opened at $54.99 on Wednesday. The New York Times Company has a 1-year low of $44.83 and a 1-year high of $62.24. The company has a 50-day moving average of $57.93 and a 200 day moving average of $54.71. The firm has a market capitalization of $8.95 billion, a price-to-earnings ratio of 28.34, a PEG ratio of 1.40 and a beta of 1.16.

New York Times (NYSE:NYT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.58 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.08. New York Times had a net margin of 11.92% and a return on equity of 19.55%. The company had revenue of $685.90 million during the quarter, compared to analyst estimates of $670.22 million. During the same quarter last year, the business posted $0.45 EPS. The firm's revenue for the quarter was up 9.7% on a year-over-year basis. On average, equities 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 will be paid on Thursday, October 23rd. Stockholders of record on Wednesday, October 8th will be issued a $0.18 dividend. The ex-dividend date is Wednesday, October 8th. This represents a $0.72 annualized dividend and a dividend yield of 1.3%. New York Times's payout ratio is currently 37.11%.

Analysts Set New Price Targets

NYT has been the subject of a number of recent research reports. Citigroup reissued a "buy" rating on shares of New York Times in a research note on Thursday, June 12th. Evercore ISI lifted their price objective on shares of New York Times from $60.00 to $67.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Zacks Research cut shares of New York Times from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. Morgan Stanley raised their target price on shares of New York Times from $54.00 to $59.00 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of New York Times in a report on Saturday, September 27th. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $60.33.

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.

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