GAMMA Investing LLC Raises Stock Holdings in The New York Times Company (NYSE:NYT)

GAMMA Investing LLC grew its holdings in The New York Times Company (NYSE:NYT) by 49.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,102 shares of the company’s stock after buying an additional 698 shares during the quarter. GAMMA Investing LLC’s holdings in New York Times were worth $117,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in NYT. Janus Henderson Group PLC increased its holdings in New York Times by 72.9% in the 1st quarter. Janus Henderson Group PLC now owns 122,820 shares of the company’s stock worth $5,308,000 after acquiring an additional 51,801 shares in the last quarter. Cullinan Associates Inc. raised its position in shares of New York Times by 10.3% during the 1st quarter. Cullinan Associates Inc. now owns 195,593 shares of the company’s stock worth $8,454,000 after purchasing an additional 18,337 shares during the last quarter. Entropy Technologies LP purchased a new position in New York Times in the 1st quarter valued at about $473,000. Comerica Bank boosted its holdings in New York Times by 15.6% in the 1st quarter. Comerica Bank now owns 83,282 shares of the company’s stock worth $3,599,000 after buying an additional 11,234 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in New York Times by 9.0% during the 1st quarter. Russell Investments Group Ltd. now owns 116,934 shares of the company’s stock worth $5,054,000 after buying an additional 9,609 shares in the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NYT has been the topic of several research reports. Deutsche Bank Aktiengesellschaft assumed coverage on New York Times in a research report on Wednesday, October 9th. They issued a “buy” rating and a $65.00 target price on the stock. Barclays lifted their target price on shares of New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. increased their target price on shares of New York Times from $56.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, New York Times currently has a consensus rating of “Moderate Buy” and an average price target of $52.71.

New York Times Trading Up 0.6 %

Shares of NYT stock opened at $55.44 on Monday. The New York Times Company has a twelve month low of $39.73 and a twelve month high of $56.49. The stock has a market cap of $9.11 billion, a price-to-earnings ratio of 36.96 and a beta of 1.03. The company’s 50-day moving average price is $54.42 and its 200-day moving average price is $50.67.

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

New York Times Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th will be given a $0.13 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $0.52 dividend on an annualized basis and a yield of 0.94%. New York Times’s dividend payout ratio is currently 34.67%.

Insider Activity

In related news, CFO William Bardeen sold 2,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $54.56, for a total transaction of $109,120.00. Following the completion of the sale, the chief financial officer now directly owns 10,315 shares of the company’s stock, valued at approximately $562,786.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Levien Meredith A. Kopit sold 18,300 shares of New York Times 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 directly owns 101,772 shares of the company’s stock, valued at approximately $5,487,546.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO William Bardeen sold 2,000 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 10,315 shares in the company, valued at $562,786.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% 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.