The New York Times Company $NYT Shares Sold by IFP Advisors Inc

Key Points

• IFP Advisors Inc reduced its holdings in The New York Times Company by 28.9%, selling 10,746 shares during the second quarter, leaving them with 26,440 shares valued at approximately $1.48 million.
• Acadian Asset Management LLC significantly increased its stake in New York Times by 383%, now owning 1,765,338 shares valued at about $87.5 million.
• The New York Times recently reported $0.58 earnings per share for the last quarter, surpassing analysts' expectations, along with a 9.7% year-over-year revenue increase to $685.90 million.

IFP Advisors Inc cut its holdings in The New York Times Company (NYSE:NYT - Free Report) by 28.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,440 shares of the company's stock after selling 10,746 shares during the quarter. IFP Advisors Inc's holdings in New York Times were worth $1,480,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NYT. Acadian Asset Management LLC increased its stake in New York Times by 383.0% in the first quarter. Acadian Asset Management LLC now owns 1,765,338 shares of the company's stock valued at $87,538,000 after purchasing an additional 1,399,865 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of New York Times by 101.6% in the first quarter. AQR Capital Management LLC now owns 2,351,100 shares of the company's stock worth $115,627,000 after buying an additional 1,184,729 shares during the period. Allianz Asset Management GmbH boosted its position in shares of New York Times by 210.7% in the first quarter. Allianz Asset Management GmbH now owns 1,609,513 shares of the company's stock worth $79,832,000 after buying an additional 1,091,430 shares during the period. Burgundy Asset Management Ltd. lifted its stake in shares of New York Times by 65.2% in the first quarter. Burgundy Asset Management Ltd. now owns 2,325,224 shares of the company's stock worth $115,331,000 after acquiring an additional 917,766 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of New York Times in the first quarter worth about $37,500,000. 95.37% of the stock is owned by institutional investors and hedge funds.

New York Times Stock Performance

Shares of NYSE NYT opened at $54.62 on Monday. The stock has a fifty day moving average price of $58.13 and a two-hundred day moving average price of $54.88. The firm has a market cap of $8.89 billion, a P/E ratio of 28.15, a PEG ratio of 1.38 and a beta of 1.16. The New York Times Company has a 1 year low of $44.83 and a 1 year high of $62.24.

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 (EPS) for the quarter, beating 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 firm's quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the company posted $0.45 EPS. On average, research 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 announced a quarterly dividend, which will be paid on Thursday, October 23rd. Stockholders of record on Wednesday, October 8th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, October 8th. New York Times's dividend payout ratio (DPR) is 37.11%.

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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Jacqueline M. Welch sold 5,500 shares of the firm's stock in a transaction on 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 sale, 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 position. The disclosure for this sale can be found here. Company insiders own 1.90% of the company's stock.

Wall Street Analyst Weigh In

NYT has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of New York Times in a report on Wednesday, October 8th. Guggenheim increased their price target 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. Evercore ISI increased their price target on New York Times from $60.00 to $67.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Barclays set a $52.00 price target on New York Times and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. Finally, Morgan Stanley increased their price target on 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. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.33.

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.

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