Handelsinvest Investeringsforvaltning Acquires Shares of 7,702 The New York Times Company (NYSE:NYT)

Handelsinvest Investeringsforvaltning bought a new stake in The New York Times Company (NYSE:NYTFree Report) in the fourth quarter, Holdings Channel reports. The institutional investor bought 7,702 shares of the company’s stock, valued at approximately $377,000.

Several other institutional investors and hedge funds have also modified their holdings of NYT. Acadian Asset Management LLC bought a new position in New York Times in the 3rd quarter valued at $578,000. Northstar Group Inc. acquired a new stake in shares of New York Times in the fourth quarter valued at $218,000. Trillium Asset Management LLC increased its stake in shares of New York Times by 16.4% in the third quarter. Trillium Asset Management LLC now owns 148,723 shares of the company’s stock valued at $6,127,000 after buying an additional 20,941 shares in the last quarter. Burgundy Asset Management Ltd. increased its stake in shares of New York Times by 17.1% in the third quarter. Burgundy Asset Management Ltd. now owns 756,812 shares of the company’s stock valued at $31,181,000 after buying an additional 110,706 shares in the last quarter. Finally, Pinebridge Investments L.P. acquired a new stake in shares of New York Times in the second quarter valued at $39,000. 95.37% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at New York Times

In other news, CEO Levien Meredith A. Kopit sold 13,543 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $44.11, for a total transaction of $597,381.73. Following the completion of the transaction, the chief executive officer now directly owns 90,759 shares in the company, valued at approximately $4,003,379.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director David S. Perpich sold 3,014 shares of New York Times stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $44.03, for a total transaction of $132,706.42. Following the transaction, the director now owns 20,813 shares in the company, valued at approximately $916,396.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Levien Meredith A. Kopit sold 13,543 shares of New York Times stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $44.11, for a total value of $597,381.73. Following the transaction, the chief executive officer now owns 90,759 shares in the company, valued at approximately $4,003,379.49. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,557 shares of company stock worth $1,029,968. 2.00% of the stock is currently owned by company insiders.

New York Times Stock Up 0.3 %

Shares of NYT stock opened at $43.44 on Thursday. The stock has a 50-day moving average price of $45.52 and a 200 day moving average price of $44.61. The firm has a market cap of $7.13 billion, a price-to-earnings ratio of 31.25 and a beta of 1.02. The New York Times Company has a 12 month low of $35.06 and a 12 month high of $49.87.

New York Times (NYSE:NYTGet Free Report) last posted its earnings results on Wednesday, February 7th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.10. The company had revenue of $676.20 million during the quarter, compared to analyst estimates of $680.02 million. New York Times had a return on equity of 16.48% and a net margin of 9.58%. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.65 EPS. Sell-side analysts predict that The New York Times Company will post 1.64 earnings per share for the current fiscal year.

New York Times Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Tuesday, April 2nd will be given a dividend of $0.13 per share. This is a positive change from New York Times’s previous quarterly dividend of $0.11. This represents a $0.52 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Monday, April 1st. New York Times’s payout ratio is presently 31.65%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NYT. Argus upgraded New York Times from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research note on Monday, March 4th. StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Citigroup assumed coverage on New York Times in a research report on Tuesday, March 12th. They issued a “buy” rating and a $52.00 price objective for the company. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $45.67.

Read Our Latest Research Report on New York Times

About New York Times

(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.

Further Reading

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Institutional Ownership by Quarter for New York Times (NYSE:NYT)

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