77,697 Shares in The New York Times Company $NYT Purchased by Ieq Capital LLC

Key Points

• Ieq Capital LLC acquired a new stake in The New York Times Company, purchasing 77,697 shares valued at approximately $3,854,000.
• Several hedge funds have recently added to their positions in the company, resulting in institutional investors and hedge funds owning 95.37% of the stock.
• Analysts have adjusted their price targets for NYT, with a consensus rating of “Moderate Buy” and an average target price of $60.33.

Ieq Capital LLC bought a new position in shares of The New York Times Company (NYSE:NYT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 77,697 shares of the company's stock, valued at approximately $3,854,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NYT. Wealth Enhancement Advisory Services LLC grew its holdings in New York Times by 109.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,373 shares of the company's stock valued at $1,259,000 after buying an additional 13,248 shares during the last quarter. Asset Management One Co. Ltd. acquired a new stake in shares of New York Times during the first quarter valued at $250,000. Centiva Capital LP boosted its stake in shares of 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 last quarter. State of Alaska Department of Revenue boosted its stake in shares of New York Times by 164.0% during 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 during the last quarter. Finally, Element Capital Management LLC acquired a new stake in shares of New York Times during the first quarter valued at $2,742,000. Institutional investors and hedge funds own 95.37% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Barclays set a $52.00 price objective on New York Times and gave the stock an "equal weight" rating in a report on Thursday, August 7th. Guggenheim raised their price objective on New York Times from $55.00 to $56.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Evercore ISI raised their price objective on New York Times from $60.00 to $67.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Morgan Stanley lifted their target price on New York Times from $54.00 to $59.00 and gave the company an "equal weight" rating in a report on Thursday, August 7th. Finally, Citigroup reiterated a "buy" rating on shares of New York Times in a report on Thursday, June 12th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $60.33.

Insider Transactions at New York Times

In other 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 transaction of $290,200.00. Following the sale, the executive vice president directly owned 11,243 shares of the company's stock, valued at approximately $652,543.72. The trade was a 30.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jacqueline M. Welch sold 5,500 shares of New York Times stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $60.04, for a total value of $330,220.00. Following the sale, the executive vice president directly owned 14,470 shares in the company, valued at approximately $868,778.80. The trade was a 27.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.

New York Times Trading Down 1.2%

NYSE:NYT traded down $0.71 during mid-day trading on Tuesday, hitting $59.13. The company had a trading volume of 1,629,534 shares, compared to its average volume of 1,777,700. The business has a fifty day simple moving average of $56.41 and a 200-day simple moving average of $53.04. The New York Times Company has a 1 year low of $44.83 and a 1 year high of $62.24. The firm has a market capitalization of $9.63 billion, a price-to-earnings ratio of 30.48, a PEG ratio of 1.51 and a beta of 1.16.

New York Times (NYSE:NYT - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.08. New York Times had a return on equity of 19.55% and a net margin of 11.92%.The business had revenue of $685.90 million for the quarter, compared to analyst estimates of $670.22 million. During the same period in the previous year, the company earned $0.45 earnings per share. The company's revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, research analysts anticipate that The New York Times Company will post 2.08 earnings per share for the current year.

New York Times Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Wednesday, July 9th were given 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 payout ratio is presently 37.11%.

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.