Landscape Capital Management L.L.C. Buys Shares of 108,980 The New York Times Company $NYT

Key Points

• Landscape Capital Management acquired a new stake in The New York Times Company, purchasing 108,980 shares valued at approximately $5.4 million.
• The company recently reported earnings of $0.58 EPS, exceeding analysts' expectations, and had a revenue of $685.9 million, a 9.7% increase from last year.
• The New York Times has a current market cap of $9.76 billion and a P/E ratio of 30.88, reflecting ongoing investor interest with 95.37% of shares owned by institutional investors.

Landscape Capital Management L.L.C. acquired a new stake in 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 SEC. The institutional investor acquired 108,980 shares of the company's stock, valued at approximately $5,405,000. Landscape Capital Management L.L.C. owned approximately 0.07% of New York Times as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in NYT. Raymond James Financial Inc. bought a new position in shares of New York Times during the fourth quarter valued at $1,544,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of New York Times by 7.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 111,614 shares of the company's stock valued at $5,810,000 after acquiring an additional 8,111 shares during the period. Integrated Wealth Concepts LLC lifted its holdings in shares of New York Times by 9.0% during the fourth quarter. Integrated Wealth Concepts LLC now owns 5,099 shares of the company's stock valued at $265,000 after acquiring an additional 421 shares during the period. Voya Investment Management LLC lifted its holdings in shares of New York Times by 13.0% during the fourth quarter. Voya Investment Management LLC now owns 130,045 shares of the company's stock valued at $6,769,000 after acquiring an additional 14,988 shares during the period. Finally, Boothbay Fund Management LLC bought a new position in shares of New York Times during the fourth quarter valued at $384,000. Institutional investors and hedge funds own 95.37% of the company's stock.

Insider Activity

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 transaction, the executive vice president owned 11,243 shares in the company, valued at $652,543.72. The trade was a 30.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David S. Perpich sold 4,000 shares of New York Times stock in a transaction dated 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 owned 27,569 shares in the company, 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. Insiders own 1.90% of the company's stock.

New York Times Stock Up 0.2%

NYT stock traded up $0.13 during midday trading on Friday, reaching $59.87. The stock had a trading volume of 1,582,849 shares, compared to its average volume of 2,187,278. The business has a fifty day simple moving average of $56.31 and a two-hundred day simple moving average of $52.95. The firm has a market cap of $9.75 billion, a price-to-earnings ratio of 30.86, a PEG ratio of 1.51 and a beta of 1.09. The New York Times Company has a twelve month low of $44.83 and a twelve month high of $62.24.

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

New York Times Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Wednesday, July 9th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Wednesday, July 9th. New York Times's payout ratio is 37.11%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NYT. Evercore ISI lifted their price objective on New York Times from $60.00 to $67.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Guggenheim lifted their price target on New York Times from $55.00 to $56.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Citigroup reaffirmed a "buy" rating on shares of New York Times in a report on Thursday, June 12th. Barclays set a $52.00 price target on New York Times and gave the company an "equal weight" rating in a report on Thursday, August 7th. Finally, Morgan Stanley lifted their price target 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. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $60.33.

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.