Handelsinvest Investeringsforvaltning Sells 2,632 Shares of The New York Times Company (NYSE:NYT)

Handelsinvest Investeringsforvaltning lessened its holdings in shares of The New York Times Company (NYSE:NYT) by 34.2% during the 1st quarter, Holdings Channel.com reports. The firm owned 5,070 shares of the company’s stock after selling 2,632 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in New York Times were worth $219,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in NYT. Contravisory Investment Management Inc. bought a new stake in shares of New York Times during the fourth quarter worth $27,000. GAMMA Investing LLC bought a new stake in shares of New York Times during the fourth quarter worth $31,000. TFO Wealth Partners LLC grew its holdings in shares of New York Times by 84,033.3% during the fourth quarter. TFO Wealth Partners LLC now owns 2,524 shares of the company’s stock worth $124,000 after purchasing an additional 2,521 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of 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 purchasing an additional 451 shares during the last quarter. Finally, Boston Family Office LLC bought a new stake in shares of New York Times during the fourth quarter worth $206,000. Institutional investors own 95.37% of the company’s stock.

Wall Street Analyst Weigh In

NYT has been the topic of several recent research reports. StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a report on Wednesday, March 20th. Evercore ISI raised their price target on New York Times from $50.00 to $53.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. Finally, Citigroup initiated coverage on New York Times in a report on Tuesday, March 12th. They issued a “buy” rating and a $52.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, New York Times currently has an average rating of “Moderate Buy” and an average target price of $46.71.

New York Times Trading Up 0.6 %

Shares of NYT opened at $52.30 on Thursday. The New York Times Company has a 1 year low of $39.38 and a 1 year high of $52.46. The stock has a market cap of $8.59 billion, a P/E ratio of 34.87 and a beta of 1.06. The stock’s 50-day moving average price is $48.92 and its two-hundred day moving average price is $46.48.

New York Times (NYSE:NYT) last issued its earnings results on Wednesday, May 8th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.11. New York Times had a return on equity of 17.33% and a net margin of 10.19%. The firm had revenue of $594.00 million for the quarter, compared to analysts’ expectations of $591.97 million. During the same quarter last year, the business earned $0.19 earnings per share. The company’s revenue was up 5.9% compared to the same quarter last year. As a group, equities analysts forecast that The New York Times Company will post 1.77 EPS for the current year.

New York Times Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Tuesday, July 9th. New York Times’s dividend payout ratio (DPR) is currently 34.67%.

Insiders Place Their Bets

In other New York Times news, CEO Levien Meredith A. Kopit sold 12,548 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $47.72, for a total transaction of $598,790.56. Following the transaction, the chief executive officer now owns 120,072 shares in the company, valued at $5,729,835.84. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CAO R Anthony Benten sold 5,171 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $48.98, for a total transaction of $253,275.58. Following the sale, the chief accounting officer now owns 38,576 shares of the company’s stock, valued at $1,889,452.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Levien Meredith A. Kopit sold 12,548 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $47.72, for a total value of $598,790.56. Following the sale, the chief executive officer now directly owns 120,072 shares in the company, valued at approximately $5,729,835.84. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

New York Times Company 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.