MQS Management LLC Makes New Investment in The New York Times Company (NYSE:NYT)

MQS Management LLC acquired a new position in shares of The New York Times Company (NYSE:NYT - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 7,628 shares of the company's stock, valued at approximately $378,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bessemer Group Inc. raised its holdings in shares of New York Times by 12.6% during the fourth quarter. Bessemer Group Inc. now owns 1,895 shares of the company's stock worth $99,000 after purchasing an additional 212 shares during the period. Natixis Advisors LLC raised its holdings in shares of New York Times by 1.2% during the fourth quarter. Natixis Advisors LLC now owns 19,187 shares of the company's stock worth $999,000 after purchasing an additional 228 shares during the period. Snowden Capital Advisors LLC raised its holdings in shares of New York Times by 2.1% during the fourth quarter. Snowden Capital Advisors LLC now owns 14,648 shares of the company's stock worth $762,000 after purchasing an additional 307 shares during the period. Seeds Investor LLC raised its holdings in shares of New York Times by 5.5% during the fourth quarter. Seeds Investor LLC now owns 7,325 shares of the company's stock worth $381,000 after purchasing an additional 385 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of New York Times by 511.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 471 shares of the company's stock worth $25,000 after purchasing an additional 394 shares during the period. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at New York Times

In other news, EVP William Bardeen sold 2,500 shares of the firm's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $56.83, for a total value of $142,075.00. Following the sale, the executive vice president owned 16,727 shares in the company, valued at approximately $950,595.41. This trade represents a 13.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 stock was sold at an average price of $56.75, for a total transaction of $112,932.50. Following the completion of the sale, the chief accounting officer owned 39,685 shares in the company, valued at approximately $2,252,123.75. The trade was a 4.78% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,490 shares of company stock worth $479,728. Insiders own 1.90% of the company's stock.

New York Times Stock Performance

Shares of NYSE NYT traded down $0.42 during mid-day trading on Wednesday, reaching $53.96. The company had a trading volume of 1,375,392 shares, compared to its average volume of 1,413,432. The stock has a fifty day moving average of $55.43 and a two-hundred day moving average of $51.97. The company has a market capitalization of $8.80 billion, a price-to-earnings ratio of 29.36, a PEG ratio of 1.53 and a beta of 1.11. The New York Times Company has a 12-month low of $44.83 and a 12-month high of $58.16.

New York Times (NYSE:NYT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.06. The business had revenue of $635.91 million during the quarter, compared to analyst estimates of $634.99 million. New York Times had a net margin of 11.53% and a return on equity of 18.70%. The firm's revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.31 earnings per share. Sell-side analysts forecast 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 disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Investors of record on Wednesday, July 9th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Wednesday, July 9th. New York Times's payout ratio is presently 39.13%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on NYT shares. Guggenheim increased their price objective on shares of New York Times from $53.00 to $55.00 and gave the stock a "neutral" rating in a report on Monday, June 2nd. Wall Street Zen upgraded shares of New York Times from a "hold" rating to a "buy" rating in a research report on Friday, April 11th. Finally, Citigroup restated a "buy" rating on shares of New York Times in a research report on Thursday, June 12th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $56.40.

New York Times Company 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.