The New York Times Company $NYT Stock: Assenagon Asset Management S.A. Raises Position

Key Points

• Assenagon Asset Management increased its New York Times stake by 416.3% in the third quarter, owning 224,075 shares worth approximately $14.3 million. Institutional investors collectively hold 95.37% of the company.
• Analyst sentiment remains positive but cautious: the stock has a consensus “Moderate Buy” rating and an $82.70 price target, although several firms recently lowered their targets or maintained neutral ratings.
• New York Times reported quarterly EPS of $0.69, exceeding estimates, while revenue rose 11.2% year over year to $762.46 million. The company also declared a quarterly dividend of $0.23 per share, representing a 1.4% annualized yield.

Assenagon Asset Management S.A. boosted its position in shares of The New York Times Company (NYSE:NYT - Free Report) by 416.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 224,075 shares of the company's stock after acquiring an additional 180,678 shares during the period. Assenagon Asset Management S.A. owned about 0.14% of New York Times worth $14,274,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Curated Wealth Partners LLC purchased a new stake in New York Times during the 3rd quarter worth about $388,000. Fortitude Family Office LLC boosted its position in shares of New York Times by 193.6% during the 3rd quarter. Fortitude Family Office LLC now owns 1,732 shares of the company's stock worth $110,000 after acquiring an additional 1,142 shares in the last quarter. Clark & Stuart Inc increased its holdings in shares of New York Times by 5.7% in the 3rd quarter. Clark & Stuart Inc now owns 145,386 shares of the company's stock valued at $9,261,000 after acquiring an additional 7,865 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in shares of New York Times by 24.4% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 3,659 shares of the company's stock valued at $233,000 after acquiring an additional 717 shares during the last quarter. Finally, Sax Wealth Advisors LLC purchased a new position in shares of New York Times in the 3rd quarter valued at about $294,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Zacks Research downgraded shares of New York Times from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 6th. Morgan Stanley cut their price target on shares of New York Times from $90.00 to $75.00 and set an "equal weight" rating on the stock in a research note on Sunday, October 11th. Barclays reduced their price target on shares of New York Times from $66.00 to $63.00 and set an "equal weight" rating for the company in a research report on Thursday, August 6th. Weiss Ratings upgraded shares of New York Times from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, October 8th. Finally, Bank of America reduced their target price on New York Times from $87.00 to $80.00 and set a "neutral" rating for the company in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $82.70.

New York Times Stock Up 0.4%

NYT opened at $68.04 on Tuesday. The business has a 50 day moving average price of $66.47 and a two-hundred day moving average price of $72.51. The company has a market cap of $10.97 billion, a PE ratio of 24.38, a P/E/G ratio of 1.76 and a beta of 0.93. The New York Times Company has a 52 week low of $55.69 and a 52 week high of $87.10.

New York Times (NYSE:NYT - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.02. The company had revenue of $762.46 million for the quarter, compared to the consensus estimate of $752.01 million. New York Times had a return on equity of 22.64% and a net margin of 13.19%. The company's revenue was up 11.2% on a year-over-year basis. During the same period last year, the business posted $0.58 EPS. As a group, sell-side analysts expect that The New York Times Company will post 2.83 EPS for the current fiscal year.

New York Times Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 22nd. Investors of record on Wednesday, October 7th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, October 7th. This represents a $0.92 annualized dividend and a dividend yield of 1.4%. New York Times's dividend payout ratio (DPR) is currently 38.33%.

New York Times News Roundup

Here are the key news stories impacting New York Times this week:

• Positive Sentiment: Continued publication of high-profile investigative and international reporting—including coverage of a Kenyan mass-murder conviction, gold-mine exploitation, French unrest and U.S. politics—reinforces The Times’ premium-news positioning and may support reader engagement and subscription value. Cult Leader Convicted of Mass Murder by Court in Kenya
• Positive Sentiment: The Athletic continues to provide frequent, timely sports coverage across the Premier League, NFL, baseball and college football. That breadth can help sustain engagement with bundled digital subscribers, although the articles do not provide new subscriber or revenue figures. Premier League News Live Updates
• Neutral Sentiment: Several features revisit major cultural and historical topics, including the World Trade Center architect’s legacy, O.J. Simpson coverage and new research on stuttering. These stories may strengthen brand relevance and audience reach but are unlikely to materially change near-term financial estimates. World Trade Center Architect’s Legacy
• Neutral Sentiment: Political and economic reporting on midterm elections, Trump administration policies, Russia sanctions, health-care uncertainty and voter turnout expands the news franchise but carries no direct update on NYT advertising, subscriptions or profitability. Economy and Midterm Elections

New York Times Company Profile

The New York Times Company NYSE: NYT is a media and technology company best known for publishing The New York Times, a daily newspaper founded in 1851 by Henry Jarvis Raymond and George Jones. The company produces journalism across national and international news, business, politics, culture, science, sports and other topics through print and digital platforms.

In addition to its core news operation, the company offers a range of subscription products and digital services, including NYT Cooking, Games, Audio and The Athletic, a subscription-based sports media platform.

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