Stone Ridge Asset Management LLC acquired a new position in shares of New York Times Co (NYSE:NYT) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 78,029 shares of the company’s stock, valued at approximately $1,444,000.
Several other hedge funds have also recently made changes to their positions in the company. Brown Advisory Inc. boosted its stake in shares of New York Times by 4.0% in the fourth quarter. Brown Advisory Inc. now owns 58,792 shares of the company’s stock valued at $1,088,000 after purchasing an additional 2,252 shares during the period. LS Investment Advisors LLC raised its holdings in New York Times by 23.3% in the fourth quarter. LS Investment Advisors LLC now owns 11,957 shares of the company’s stock valued at $221,000 after acquiring an additional 2,257 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of New York Times by 37.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,622 shares of the company’s stock worth $160,000 after purchasing an additional 2,333 shares during the period. Strs Ohio raised its holdings in shares of New York Times by 4.2% during the fourth quarter. Strs Ohio now owns 68,900 shares of the company’s stock worth $1,274,000 after purchasing an additional 2,800 shares during the period. Finally, Parametrica Management Ltd raised its holdings in shares of New York Times by 14.7% during the fourth quarter. Parametrica Management Ltd now owns 25,260 shares of the company’s stock worth $467,000 after purchasing an additional 3,228 shares during the period. Institutional investors and hedge funds own 72.11% of the company’s stock.
A number of analysts have weighed in on the stock. Barclays set a $20.00 target price on shares of New York Times and gave the stock a “hold” rating in a report on Sunday, February 11th. Zacks Investment Research lowered shares of New York Times from a “buy” rating to a “hold” rating in a research report on Monday, February 12th. Finally, ValuEngine upgraded shares of New York Times from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st.
In other news, Director Robert E. Denham sold 3,166 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $25.12, for a total value of $79,529.92. Following the sale, the director now owns 39,842 shares in the company, valued at $1,000,831.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Carso S.A. De C.V. Inversora sold 90,000 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $24.13, for a total value of $2,171,700.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,906,164 shares of company stock worth $45,131,239. 5.20% of the stock is currently owned by corporate insiders.
NYT traded up $0.55 during midday trading on Friday, hitting $23.60. 3,493,996 shares of the company’s stock traded hands, compared to its average volume of 2,134,712. The firm has a market cap of $3,799.10, a PE ratio of 29.50, a PEG ratio of 1.98 and a beta of 1.74. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.80 and a current ratio of 1.80. New York Times Co has a one year low of $14.15 and a one year high of $25.70.
New York Times (NYSE:NYT) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.09. New York Times had a net margin of 0.26% and a return on equity of 14.84%. The firm had revenue of $484.00 million for the quarter, compared to analyst estimates of $467.30 million. During the same quarter last year, the firm earned $0.30 earnings per share. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. sell-side analysts anticipate that New York Times Co will post 0.9 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 19th. Stockholders of record on Wednesday, April 4th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Tuesday, April 3rd. This represents a $0.16 annualized dividend and a dividend yield of 0.68%. New York Times’s payout ratio is 20.00%.
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New York Times Profile
The New York Times Company is a media company focused on creating, collecting and distributing news and information. The Company’s principal business consists of distributing content generated by its newsroom through its print, Web and mobile platforms. In addition, it distributes selected content on third-party platforms.
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