The New York Times Company (NYSE:NYT) Shares Sold by Quest Partners LLC

Quest Partners LLC trimmed its position in The New York Times Company (NYSE:NYT) by 24.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 36,194 shares of the company’s stock after selling 11,761 shares during the period. Quest Partners LLC’s holdings in New York Times were worth $1,853,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in shares of New York Times by 129.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,404 shares of the company’s stock valued at $72,000 after acquiring an additional 792 shares during the last quarter. Signaturefd LLC lifted its position in shares of New York Times by 34.2% in the 2nd quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock worth $87,000 after buying an additional 432 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of New York Times by 401.8% in the 2nd quarter. Blue Trust Inc. now owns 2,248 shares of the company’s stock valued at $115,000 after buying an additional 1,800 shares during the period. TFO Wealth Partners LLC grew its position in shares of New York Times by 84,033.3% during the 4th quarter. TFO Wealth Partners LLC now owns 2,524 shares of the company’s stock valued at $124,000 after buying an additional 2,521 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its stake in New York Times by 15.9% during the fourth quarter. Quadrant Capital Group LLC now owns 3,289 shares of the company’s stock worth $161,000 after acquiring an additional 451 shares during the period. 95.37% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Barclays lifted their target price 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. JPMorgan Chase & Co. boosted their price target on shares of New York Times from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.67.

New York Times Stock Down 2.1 %

Shares of NYT opened at $52.99 on Monday. The firm has a market capitalization of $8.70 billion, a PE ratio of 35.33 and a beta of 1.03. The firm has a 50-day moving average price of $53.63 and a 200 day moving average price of $48.72. The New York Times Company has a 52-week low of $39.73 and a 52-week high of $56.49.

New York Times (NYSE:NYT) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. New York Times had a net margin of 10.81% and a return on equity of 17.45%. The company had revenue of $625.00 million during the quarter, compared to analyst estimates of $624.82 million. During the same period in the prior year, the business posted $0.38 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, equities analysts expect that The New York Times Company will post 1.9 EPS for the current year.

New York Times Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend was Tuesday, July 9th. New York Times’s dividend payout ratio (DPR) is presently 34.67%.

Insider Transactions at New York Times

In other news, CEO Levien Meredith A. Kopit sold 18,300 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $53.92, for a total value of $986,736.00. Following the completion of the sale, the chief executive officer now owns 101,772 shares in the company, valued at $5,487,546.24. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other New York Times news, CFO William Bardeen sold 2,000 shares of New York Times stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $54.56, for a total value of $109,120.00. Following the transaction, the chief financial officer now owns 10,315 shares in the company, valued at $562,786.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Levien Meredith A. Kopit sold 18,300 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $53.92, for a total value of $986,736.00. Following the sale, the chief executive officer now owns 101,772 shares of the company’s stock, valued at approximately $5,487,546.24. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

New York Times 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.