Jump Financial LLC Sells 87,980 Shares of The New York Times Company $NYT

Key Points

• Jump Financial LLC has reduced its stake in The New York Times Company by 72.6%, now holding 33,179 shares valued at approximately $1.65 million after selling 87,980 shares.
• The New York Times Company reported earnings of $0.58 per share for the last quarter, exceeding analyst expectations of $0.50, with revenue rising 9.7% year-over-year.
• A quarterly dividend of $0.18 per share was declared, yielding 1.2%, with a payout ratio of 37.11%.

Jump Financial LLC trimmed its position in shares of The New York Times Company (NYSE:NYT - Free Report) by 72.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,179 shares of the company's stock after selling 87,980 shares during the quarter. Jump Financial LLC's holdings in New York Times were worth $1,646,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. American National Bank & Trust bought a new position in shares of New York Times during the 1st quarter valued at $45,000. Bartlett & CO. Wealth Management LLC bought a new position in shares of New York Times during the 1st quarter valued at $99,000. Putney Financial Group LLC purchased a new stake in shares of New York Times in the 4th quarter worth $102,000. Meeder Asset Management Inc. purchased a new stake in shares of New York Times in the 1st quarter worth $115,000. Finally, Covestor Ltd increased its stake in shares of New York Times by 7.9% in the 1st quarter. Covestor Ltd now owns 2,849 shares of the company's stock worth $141,000 after purchasing an additional 208 shares in the last quarter. 95.37% of the stock is owned by institutional investors.

Insider Activity

In other New York Times news, EVP William Bardeen sold 5,000 shares of the 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 transaction, the executive vice president owned 11,243 shares of the company's stock, valued at $652,543.72. This represents a 30.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David S. Perpich sold 4,000 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $56.18, for a total transaction of $224,720.00. Following the transaction, the director directly owned 27,569 shares of the company's stock, valued at $1,548,826.42. This trade represents a 12.67% decrease in their position. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

New York Times Stock Up 0.2%

NYT stock traded up $0.13 during trading on Friday, reaching $59.87. The company's stock had a trading volume of 1,582,849 shares, compared to its average volume of 2,187,278. 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 market capitalization of $9.75 billion, a P/E ratio of 30.86, a price-to-earnings-growth ratio of 1.51 and a beta of 1.09. The company's fifty day moving average is $56.31 and its 200-day moving average is $52.95.

New York Times (NYSE:NYT - Get Free Report) last issued its quarterly 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 during the quarter, compared to analyst estimates of $670.22 million. During the same quarter in the prior year, the business posted $0.45 EPS. New York Times's revenue for the quarter was up 9.7% compared to the same quarter last year. Analysts anticipate 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 declared 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 yield of 1.2%. The ex-dividend date was Wednesday, July 9th. New York Times's dividend 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.