Trexquant Investment LP decreased its holdings in The New York Times Company (NYSE:NYT - Free Report) by 10.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 319,373 shares of the company's stock after selling 38,930 shares during the period. Trexquant Investment LP owned 0.20% of New York Times worth $15,841,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. American National Bank & Trust bought a new position in shares of New York Times in the first quarter worth about $45,000. Bartlett & CO. Wealth Management LLC bought a new position in shares of New York Times in the first quarter worth about $99,000. Putney Financial Group LLC bought a new position in shares of New York Times in the fourth quarter worth about $102,000. Meeder Asset Management Inc. bought a new position in New York Times during the first quarter valued at approximately $115,000. Finally, Covestor Ltd boosted its stake in New York Times by 7.9% during the first quarter. Covestor Ltd now owns 2,849 shares of the company's stock valued at $141,000 after buying an additional 208 shares during the last quarter. Institutional investors own 95.37% of the company's stock.
Insider Buying and Selling at New York Times
In other news, EVP William Bardeen sold 5,000 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was 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 of the company's stock, valued at $652,543.72. This trade represents a 30.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is owned by insiders.
New York Times Trading Down 1.0%
Shares of NYSE NYT traded down $0.63 during midday trading on Tuesday, hitting $59.21. The company's stock had a trading volume of 930,472 shares, compared to its average volume of 1,773,154. The business's 50 day moving average is $56.41 and its two-hundred day moving average is $53.04. The New York Times Company has a 12-month low of $44.83 and a 12-month high of $62.24. The firm has a market cap of $9.64 billion, a P/E ratio of 30.52, a price-to-earnings-growth ratio of 1.51 and a beta of 1.16.
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 for the quarter, topping the consensus estimate of $0.50 by $0.08. The firm 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%.The company's revenue for the quarter 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 earnings per share for the current fiscal year.
New York Times Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Wednesday, July 9th were given a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, July 9th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. New York Times's dividend payout ratio (DPR) is presently 37.11%.
Analyst Ratings Changes
A number of brokerages recently commented on NYT. Evercore ISI increased their price target 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. Barclays set a $52.00 price target on New York Times and gave the company an "equal weight" rating in a research note on Thursday, August 7th. Guggenheim increased their price target on New York Times from $55.00 to $56.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Citigroup reissued a "buy" rating on shares of New York Times in a research note on Thursday, June 12th. Finally, Morgan Stanley increased their price target on New York Times from $54.00 to $59.00 and gave the company 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 issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.33.
View Our Latest Research Report on NYT
About New York Times
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Free Report)
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.
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