UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Acquires 118,454 Shares of The New York Times Company $NYT

Key Points

• UBS AM, a business unit of UBS Asset Management, increased its stake in The New York Times Company by 20.3% during the first quarter, owning a total of 701,993 shares valued at approximately $34.8 million.
• The New York Times recently experienced insider selling, with executive vice presidents William Bardeen and Jacqueline M. Welch decreasing their stock ownership by 30.78% and 27.54%, respectively.
• The company reported a 9.7% increase in revenue for the last quarter, achieving earnings of $0.58 per share, which surpassed analysts' expectations.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in The New York Times Company (NYSE:NYT - Free Report) by 20.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 701,993 shares of the company's stock after purchasing an additional 118,454 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.43% of New York Times worth $34,819,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of NYT. American National Bank & Trust purchased a new position in New York Times during the 1st quarter worth $45,000. WPG Advisers LLC bought a new position in shares of New York Times during the first quarter valued at about $60,000. Putney Financial Group LLC purchased a new position in New York Times during the fourth quarter worth about $102,000. Bartlett & CO. Wealth Management LLC purchased a new position in New York Times during the first quarter worth about $99,000. Finally, Meeder Asset Management Inc. bought a new stake in New York Times in the 1st quarter worth about $115,000. Institutional investors own 95.37% of the company's stock.

Insider Transactions at New York Times

In other New York Times news, EVP William Bardeen sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $58.04, for a total transaction of $290,200.00. Following the sale, the executive vice president directly owned 11,243 shares of the company's stock, valued at $652,543.72. The trade was a 30.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through 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 owned 14,470 shares of the company's stock, valued at approximately $868,778.80. This 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 currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Morgan Stanley boosted their price objective 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. Zacks Research lowered New York Times from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Guggenheim boosted their price objective 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. Evercore ISI raised their target price 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. Finally, Citigroup reiterated a "buy" rating on shares of New York Times in a research report on Thursday, June 12th. Four equities research 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 company currently has a consensus rating of "Moderate Buy" and an average target price of $60.33.

New York Times Price Performance

Shares of NYSE:NYT opened at $59.27 on Tuesday. The New York Times Company has a 1 year low of $44.83 and a 1 year high of $62.24. The company has a market cap of $9.65 billion, a P/E ratio of 30.55, a PEG ratio of 1.49 and a beta of 1.16. The stock's fifty day moving average price is $56.94 and its 200-day moving average price is $53.76.

New York Times (NYSE:NYT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.08. The company had revenue of $685.90 million during 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%.New York Times's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.45 earnings per share. On average, sell-side analysts anticipate that The New York Times Company will post 2.08 earnings per share for the current year.

New York Times Announces Dividend

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. The ex-dividend date 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 payout ratio is 37.11%.

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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