Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of New York Times Co (NYSE:NYT) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 218,400 shares of the company’s stock, valued at approximately $7,124,000. Los Angeles Capital Management & Equity Research Inc. owned approximately 0.13% of New York Times at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the business. SG Americas Securities LLC grew its holdings in shares of New York Times by 149.4% during the second quarter. SG Americas Securities LLC now owns 43,002 shares of the company’s stock valued at $1,403,000 after buying an additional 25,763 shares in the last quarter. HGI Capital Management LLC purchased a new position in shares of New York Times during the second quarter valued at $343,000. Steward Partners Investment Advisory LLC purchased a new position in shares of New York Times during the second quarter valued at $32,000. Trustcore Financial Services LLC purchased a new position in New York Times in the second quarter valued at about $41,000. Finally, Arizona State Retirement System grew its stake in New York Times by 1.1% in the second quarter. Arizona State Retirement System now owns 103,111 shares of the company’s stock valued at $3,363,000 after purchasing an additional 1,149 shares in the last quarter. 93.94% of the stock is currently owned by hedge funds and other institutional investors.
In other New York Times news, SVP R Anthony Benten sold 9,815 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $34.24, for a total value of $336,065.60. Following the completion of the sale, the senior vice president now owns 36,010 shares of the company’s stock, valued at $1,232,982.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Thompson sold 45,000 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $34.27, for a total value of $1,542,150.00. Following the transaction, the chief executive officer now directly owns 384,247 shares of the company’s stock, valued at approximately $13,168,144.69. The disclosure for this sale can be found here. 2.70% of the stock is owned by insiders.
Shares of NYSE:NYT traded up $0.41 on Tuesday, reaching $28.81. The company had a trading volume of 237,369 shares, compared to its average volume of 1,976,649. New York Times Co has a twelve month low of $21.34 and a twelve month high of $36.25. The company has a 50-day moving average of $33.99. The stock has a market cap of $4.74 billion, a PE ratio of 35.56 and a beta of 1.12.
New York Times (NYSE:NYT) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. New York Times had a return on equity of 13.40% and a net margin of 7.55%. The company had revenue of $436.30 million during the quarter, compared to analysts’ expectations of $439.20 million. During the same quarter in the previous year, the firm earned $0.17 earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts predict that New York Times Co will post 0.81 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Wednesday, July 10th were given a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.69%. New York Times’s dividend payout ratio is currently 24.69%.
A number of research analysts have commented on the company. Zacks Investment Research upgraded New York Times from a “hold” rating to a “strong-buy” rating and set a $39.00 target price on the stock in a research note on Monday, May 13th. ValuEngine downgraded New York Times from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Evercore ISI set a $38.00 target price on New York Times and gave the company a “buy” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $33.60.
About New York Times
The New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. The company offers The New York Times (The Times), a daily and Sunday newspaper in the United States, as well as international edition of The Times; and operates the NYTimes.com Website.
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