Short Interest in The New York Times Company (NYSE:NYT) Expands By 26.7%

The New York Times Company (NYSE:NYT) was the target of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 5,220,000 shares, a growth of 26.7% from the October 31st total of 4,120,000 shares. Currently, 3.3% of the shares of the company are sold short. Based on an average trading volume of 1,030,000 shares, the days-to-cover ratio is presently 5.1 days.

New York Times Price Performance

NYSE NYT traded down $0.12 during trading on Friday, reaching $54.26. The company’s stock had a trading volume of 696,539 shares, compared to its average volume of 1,129,405. The stock has a market capitalization of $8.90 billion, a PE ratio of 32.11, a P/E/G ratio of 1.73 and a beta of 1.02. The firm has a fifty day moving average of $54.82 and a 200 day moving average of $53.23. New York Times has a one year low of $41.55 and a one year high of $57.08.

New York Times (NYSE:NYT) last announced its earnings results on Monday, November 4th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. New York Times had a net margin of 11.04% and a return on equity of 17.75%. The business had revenue of $640.20 million for the quarter, compared to the consensus estimate of $641.00 million. During the same period last year, the firm posted $0.37 earnings per share. New York Times’s quarterly revenue was up 7.0% on a year-over-year basis. Research analysts expect that New York Times will post 1.84 earnings per share for the current fiscal year.

New York Times Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date was Wednesday, October 9th. New York Times’s dividend payout ratio is currently 30.77%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NYT shares. Barclays boosted their price objective on New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft upped their price target on New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. raised their price objective on shares of New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.83.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Darsana Capital Partners LP grew its position in New York Times by 25.0% during the second quarter. Darsana Capital Partners LP now owns 6,250,000 shares of the company’s stock valued at $320,062,000 after acquiring an additional 1,250,000 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of New York Times by 2.0% in the 3rd quarter. Wellington Management Group LLP now owns 6,074,514 shares of the company’s stock valued at $338,168,000 after purchasing an additional 118,479 shares in the last quarter. State Street Corp grew its holdings in shares of New York Times by 0.7% during the 3rd quarter. State Street Corp now owns 4,785,844 shares of the company’s stock valued at $266,428,000 after purchasing an additional 32,905 shares during the last quarter. Geode Capital Management LLC raised its position in New York Times by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,932,816 shares of the company’s stock worth $218,978,000 after purchasing an additional 154,509 shares during the period. Finally, Franklin Resources Inc. lifted its stake in New York Times by 1.5% in the third quarter. Franklin Resources Inc. now owns 3,353,792 shares of the company’s stock worth $187,544,000 after purchasing an additional 49,853 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

About New York Times

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.