Pallas Capital Advisors LLC Has $1.23 Million Position in The New York Times Company $NYT

Key Points

• Pallas Capital Advisors LLC increased its stake in The New York Times Company by 106.7% during the 2nd quarter, owning 21,933 shares valued at approximately $1.23 million.
• In Q4, several hedge funds, including Cetera Investment Advisers and Royal Bank of Canada, significantly raised their holdings in the New York Times, with institutional investors now owning 95.37% of the company's stock.
• The New York Times reported earnings of $0.58 per share for the last quarter, surpassing expectations, alongside revenue growth of 9.7% year-over-year, indicating strong financial performance.

Pallas Capital Advisors LLC raised its stake in The New York Times Company (NYSE:NYT - Free Report) by 106.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,933 shares of the company's stock after acquiring an additional 11,322 shares during the quarter. Pallas Capital Advisors LLC's holdings in New York Times were worth $1,228,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geneos Wealth Management Inc. increased its position in New York Times by 690.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 846 shares of the company's stock worth $42,000 after purchasing an additional 739 shares in the last quarter. American National Bank & Trust bought a new stake in shares of New York Times during the first quarter worth $45,000. WPG Advisers LLC acquired a new position in shares of New York Times during the first quarter worth $60,000. Bartlett & CO. Wealth Management LLC bought a new position in shares of New York Times in the 1st quarter valued at $99,000. Finally, Putney Financial Group LLC bought a new position in shares of New York Times in the 4th quarter valued at $102,000. 95.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Guggenheim boosted their price objective on New York Times from $55.00 to $56.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Zacks Research lowered New York Times from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. Evercore ISI upped their price objective on New York Times from $60.00 to $67.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Morgan Stanley lifted their target price on shares of New York Times from $54.00 to $59.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. Finally, Citigroup reissued a "buy" rating on shares of New York Times in a report on Thursday, June 12th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $60.33.

New York Times Stock Performance

Shares of NYT traded down $0.57 during mid-day trading on Monday, reaching $57.84. 1,668,767 shares of the company were exchanged, compared to its average volume of 1,426,068. The business has a 50 day simple moving average of $57.16 and a two-hundred day simple moving average of $54.14. The stock has a market capitalization of $9.42 billion, a PE ratio of 29.81, a PEG ratio of 1.47 and a beta of 1.16. The New York Times Company has a 52 week low of $44.83 and a 52 week high of $62.24.

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

New York Times Dividend Announcement

The company also recently disclosed 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. The ex-dividend date was Wednesday, July 9th. This represents a $0.72 annualized dividend and a dividend yield of 1.2%. New York Times's dividend payout ratio is 37.11%.

Insiders Place Their Bets

In other New York Times news, EVP William Bardeen sold 5,000 shares of the 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 completion of the sale, the executive vice president directly owned 11,243 shares in the company, valued at approximately $652,543.72. This trade represents a 30.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 completion of the transaction, the executive vice president directly owned 14,470 shares of the company's stock, valued at approximately $868,778.80. This trade represents 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 owned by company insiders.

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.