Amalgamated Bank Sells 6,797 Shares of The New York Times Company (NYSE:NYT)

Amalgamated Bank decreased its position in The New York Times Company (NYSE:NYT) by 7.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,508 shares of the company’s stock after selling 6,797 shares during the period. Amalgamated Bank’s holdings in New York Times were worth $4,225,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV boosted its stake in New York Times by 2.1% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 11,867 shares of the company’s stock worth $608,000 after purchasing an additional 247 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. bought a new position in New York Times in the 2nd quarter worth about $211,000. Renaissance Technologies LLC boosted its stake in New York Times by 19.8% in the 2nd quarter. Renaissance Technologies LLC now owns 2,912,142 shares of the company’s stock worth $149,131,000 after purchasing an additional 482,200 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in New York Times by 22.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,424,700 shares of the company’s stock worth $124,164,000 after purchasing an additional 438,680 shares in the last quarter. Finally, Nia Impact Advisors LLC boosted its stake in New York Times by 7.2% in the 2nd quarter. Nia Impact Advisors LLC now owns 24,987 shares of the company’s stock worth $1,280,000 after purchasing an additional 1,675 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

New York Times Stock Down 0.1 %

NYSE NYT opened at $54.49 on Friday. The New York Times Company has a 52 week low of $39.73 and a 52 week high of $56.49. The firm has a market capitalization of $8.95 billion, a P/E ratio of 36.33 and a beta of 1.03. The company has a 50-day moving average price of $53.95 and a 200-day moving average price of $49.41.

New York Times (NYSE:NYT) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.45 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $625.00 million during the quarter, compared to analyst estimates of $624.82 million. During the same quarter in the prior year, the firm earned $0.38 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, equities research analysts anticipate that The New York Times Company will post 1.9 EPS for the current year.

New York Times Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Tuesday, July 9th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.95%. The ex-dividend date was Tuesday, July 9th. New York Times’s dividend payout ratio is 34.67%.

Insider Buying and Selling

In related news, CFO William Bardeen sold 2,000 shares of the 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 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO William Bardeen sold 2,000 shares of the 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 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Levien Meredith A. Kopit sold 18,300 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $53.92, for a total transaction 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 $5,487,546.24. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

NYT has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on New York Times from $56.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Barclays boosted their target price on New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research 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. Based on data from MarketBeat.com, New York Times currently has a consensus rating of “Moderate Buy” and an average target price of $50.67.

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.