GSA Capital Partners LLP Takes $1.26 Million Position in The New York Times Company (NYSE:NYT)

Key Points

• GSA Capital Partners LLP acquired a new stake of 25,394 shares in The New York Times Company, valued at approximately $1.26 million, as reported in their recent SEC filing.
• Many institutional investors, including Allianz Asset Management and Squarepoint Ops LLC, have significantly increased their stakes in the company, indicating strong institutional confidence in NYT.
• Wall Street analysts have upgraded NYT's rating from "hold" to "buy," with a consensus price target of $56.40, reflecting positive sentiment about the company's future growth.

GSA Capital Partners LLP acquired a new stake in The New York Times Company (NYSE:NYT - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 25,394 shares of the company's stock, valued at approximately $1,260,000.

A number of other institutional investors also recently modified their holdings of the company. Darsana Capital Partners LP boosted its stake in shares of New York Times by 15.0% in the 4th quarter. Darsana Capital Partners LP now owns 5,750,000 shares of the company's stock valued at $299,288,000 after purchasing an additional 750,000 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of New York Times by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 4,035,335 shares of the company's stock valued at $210,084,000 after purchasing an additional 102,519 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of New York Times by 13.3% in the 4th quarter. Renaissance Technologies LLC now owns 3,570,380 shares of the company's stock valued at $185,838,000 after purchasing an additional 418,155 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of New York Times by 0.7% in the 4th quarter. Franklin Resources Inc. now owns 3,376,517 shares of the company's stock valued at $175,748,000 after purchasing an additional 22,725 shares during the last quarter. Finally, Baillie Gifford & Co. boosted its stake in shares of New York Times by 19.0% in the 1st quarter. Baillie Gifford & Co. now owns 3,018,477 shares of the company's stock valued at $149,716,000 after purchasing an additional 481,682 shares during the last quarter. 95.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

New York Times Stock Performance

Shares of New York Times stock traded up $0.37 during trading hours on Friday, reaching $52.26. The company's stock had a trading volume of 1,918,758 shares, compared to its average volume of 1,724,551. The New York Times Company has a one year low of $44.83 and a one year high of $58.16. The company has a market capitalization of $8.52 billion, a P/E ratio of 28.40, a P/E/G ratio of 1.41 and a beta of 1.11. The stock's fifty day simple moving average is $55.02 and its two-hundred day simple moving average is $52.03.

New York Times (NYSE:NYT - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.41 earnings per share for the quarter, beating 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 firm had revenue of $635.91 million for the quarter, compared to analyst estimates of $634.99 million. During the same period last year, the firm earned $0.31 earnings per share. The business's quarterly revenue was up 7.1% compared to the same quarter last year. As a group, research analysts forecast that The New York Times Company will post 2.08 earnings per share for the current year.

New York Times Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Shareholders of record on Wednesday, July 9th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Wednesday, July 9th. New York Times's dividend payout ratio (DPR) is 39.13%.

Insider Buying and Selling at New York Times

In other New York Times news, Director David S. Perpich sold 4,000 shares of the firm's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $56.18, for a total value of $224,720.00. Following the transaction, the director directly owned 27,569 shares of the company's stock, valued at approximately $1,548,826.42. This trade represents a 12.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO R Anthony Benten sold 1,990 shares of the firm's stock in a transaction 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 completion of the transaction, 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 three months, insiders have sold 8,490 shares of company stock valued at $479,728. Corporate insiders own 1.90% of the company's stock.

About New York Times

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.