Insider Selling: New York Times Co (NYT) Director Sells 3,492 Shares of Stock

New York Times Co (NYSE:NYT) Director Robert E. Denham sold 3,492 shares of New York Times stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $27.84, for a total value of $97,217.28. Following the completion of the sale, the director now directly owns 45,237 shares in the company, valued at approximately $1,259,398.08. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

New York Times stock traded up $0.72 during midday trading on Wednesday, reaching $27.66. The stock had a trading volume of 2,658,487 shares, compared to its average volume of 2,224,832. New York Times Co has a 1-year low of $16.95 and a 1-year high of $28.72. The firm has a market cap of $4.59 billion, a PE ratio of 34.58, a P/E/G ratio of 1.59 and a beta of 1.12. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.02 and a current ratio of 2.02.

New York Times (NYSE:NYT) last posted its quarterly earnings results on Thursday, November 1st. The company reported $0.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.03. The firm had revenue of $417.30 million during the quarter, compared to the consensus estimate of $409.80 million. New York Times had a return on equity of 15.38% and a net margin of 0.79%. The business’s revenue was up 7.9% compared to the same quarter last year. During the same period last year, the company earned $0.13 earnings per share. As a group, equities research analysts predict that New York Times Co will post 0.79 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, October 18th. Shareholders of record on Wednesday, October 3rd were paid a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, October 2nd. This represents a $0.16 dividend on an annualized basis and a yield of 0.58%. New York Times’s dividend payout ratio is 20.00%.

A number of equities research analysts recently issued reports on NYT shares. ValuEngine raised New York Times from a “hold” rating to a “buy” rating in a research report on Tuesday, October 9th. JPMorgan Chase & Co. lifted their target price on New York Times to $32.00 and gave the company an “overweight” rating in a research report on Thursday, October 11th. Zacks Investment Research lowered New York Times from a “hold” rating to a “sell” rating in a research report on Tuesday, October 9th. Finally, Barclays lowered New York Times from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $20.00 to $18.00 in a research report on Tuesday. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $25.33.

A number of hedge funds have recently bought and sold shares of the business. OppenheimerFunds Inc. grew its stake in New York Times by 10.9% in the second quarter. OppenheimerFunds Inc. now owns 23,282 shares of the company’s stock valued at $603,000 after purchasing an additional 2,289 shares in the last quarter. Arizona State Retirement System grew its stake in New York Times by 2.7% in the second quarter. Arizona State Retirement System now owns 88,849 shares of the company’s stock valued at $2,301,000 after purchasing an additional 2,337 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in New York Times by 5.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 49,980 shares of the company’s stock valued at $1,294,000 after purchasing an additional 2,623 shares in the last quarter. Granite Investment Partners LLC grew its stake in New York Times by 0.5% in the second quarter. Granite Investment Partners LLC now owns 524,608 shares of the company’s stock valued at $13,587,000 after purchasing an additional 2,663 shares in the last quarter. Finally, Amalgamated Bank grew its stake in New York Times by 16.1% in the second quarter. Amalgamated Bank now owns 20,957 shares of the company’s stock valued at $543,000 after purchasing an additional 2,913 shares in the last quarter. Hedge funds and other institutional investors own 90.51% of the company’s stock.

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New York Times Company Profile

The New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. The company provides 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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