Quantbot Technologies LP Has $1.01 Million Holdings in The New York Times Company $NYT

Key Points

• Quantbot Technologies LP has significantly decreased its stake in The New York Times Company by 80.2% in the first quarter, selling 81,909 shares and holding only 20,278 shares worth approximately $1 million.
• The New York Times recently reported a 9.7% year-over-year increase in quarterly revenue, surpassing analysts' expectations with earnings of $0.58 per share against an estimate of $0.50.
• Analyst ratings for New York Times stock include four "Buy" ratings and three "Hold" ratings, with a consensus rating of "Moderate Buy" and an average price target of $60.33.

Quantbot Technologies LP reduced its stake in shares of The New York Times Company (NYSE:NYT - Free Report) by 80.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,278 shares of the company's stock after selling 81,909 shares during the period. Quantbot Technologies LP's holdings in New York Times were worth $1,006,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Northern Trust Corp raised its holdings in New York Times by 2.8% during the first quarter. Northern Trust Corp now owns 1,480,232 shares of the company's stock valued at $73,420,000 after buying an additional 40,611 shares in the last quarter. Burgundy Asset Management Ltd. raised its holdings in New York Times by 65.2% during the first quarter. Burgundy Asset Management Ltd. now owns 2,325,224 shares of the company's stock valued at $115,331,000 after buying an additional 917,766 shares in the last quarter. Algert Global LLC raised its holdings in New York Times by 20.3% during the first quarter. Algert Global LLC now owns 243,023 shares of the company's stock valued at $12,054,000 after buying an additional 40,928 shares in the last quarter. Corient IA LLC bought a new position in New York Times during the first quarter valued at about $347,000. Finally, Raymond James Financial Inc. raised its holdings in New York Times by 331.6% during the first quarter. Raymond James Financial Inc. now owns 128,078 shares of the company's stock valued at $6,353,000 after buying an additional 98,405 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors.

New York Times Price Performance

Shares of NYT traded down $0.17 on Thursday, hitting $59.66. The company's stock had a trading volume of 572,230 shares, compared to its average volume of 1,775,250. The company has a market capitalization of $9.71 billion, a PE ratio of 30.72, a PEG ratio of 1.50 and a beta of 1.09. The New York Times Company has a fifty-two week low of $44.83 and a fifty-two week high of $62.24. The company has a 50 day moving average price of $56.09 and a 200 day moving average price of $52.79.

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, topping the consensus estimate of $0.50 by $0.08. The business had revenue of $685.90 million for the quarter, compared to the consensus estimate of $670.22 million. New York Times had a return on equity of 19.55% and a net margin of 11.92%.New York Times's revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 EPS. On average, equities analysts forecast that The New York Times Company will post 2.08 EPS for the current year.

New York Times Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Wednesday, July 9th were issued a $0.18 dividend. This represents a $0.72 annualized dividend 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%.

Insider Transactions at New York Times

In related news, EVP William Bardeen sold 5,000 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $58.04, for a total value of $290,200.00. Following the completion of the sale, the executive vice president owned 11,243 shares in the company, valued at $652,543.72. This represents a 30.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director David S. Perpich sold 4,000 shares of the company's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $56.18, for a total transaction of $224,720.00. Following the completion of the sale, the director owned 27,569 shares of the company's stock, valued at approximately $1,548,826.42. This represents a 12.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,490 shares of company stock valued at $769,928 in the last three months. 1.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NYT shares. Guggenheim lifted 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. 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. Evercore ISI lifted 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. Citigroup reiterated a "buy" rating on shares of New York Times in a research note on Thursday, June 12th. Finally, Morgan Stanley lifted 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 equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus 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.