Mount Yale Investment Advisors LLC Takes Position in The New York Times Company (NYSE:NYT)

Mount Yale Investment Advisors LLC acquired a new position in shares of The New York Times Company (NYSE:NYT) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,029 shares of the company’s stock, valued at approximately $206,000.

Several other institutional investors have also made changes to their positions in the business. Janus Henderson Group PLC lifted its stake in New York Times by 72.9% during the first quarter. Janus Henderson Group PLC now owns 122,820 shares of the company’s stock worth $5,308,000 after purchasing an additional 51,801 shares during the period. Cullinan Associates Inc. boosted its stake in New York Times by 10.3% in the 1st quarter. Cullinan Associates Inc. now owns 195,593 shares of the company’s stock valued at $8,454,000 after buying an additional 18,337 shares in the last quarter. Allianz Asset Management GmbH grew its position in New York Times by 3,368.3% in the fourth quarter. Allianz Asset Management GmbH now owns 181,981 shares of the company’s stock valued at $8,915,000 after acquiring an additional 176,734 shares during the period. Entropy Technologies LP acquired a new position in New York Times during the first quarter worth $473,000. Finally, Comerica Bank lifted its holdings in shares of New York Times by 15.6% during the first quarter. Comerica Bank now owns 83,282 shares of the company’s stock valued at $3,599,000 after acquiring an additional 11,234 shares during the period. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at New York Times

In other New York Times news, CEO Levien Meredith A. Kopit sold 18,300 shares of the company’s stock in a transaction on Monday, August 12th. The shares were 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 owns 101,772 shares in the company, valued at approximately $5,487,546.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Levien Meredith A. Kopit sold 18,300 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 101,772 shares in the company, valued at approximately $5,487,546.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO William Bardeen sold 2,000 shares of the company’s stock in a transaction dated 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 $562,786.40. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on NYT shares. Barclays upped 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 report on Thursday, August 8th. JPMorgan Chase & Co. upped their price objective on shares of New York Times from $56.00 to $58.00 and gave the stock an “overweight” rating in a research note 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $50.67.

New York Times Stock Down 0.0 %

New York Times stock opened at $55.08 on Wednesday. The New York Times Company has a 12-month low of $39.73 and a 12-month high of $56.49. The stock has a 50-day simple moving average of $54.00 and a 200 day simple moving average of $49.62. The stock has a market capitalization of $9.05 billion, a price-to-earnings ratio of 36.72 and a beta of 1.03.

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

New York Times Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Tuesday, July 9th were issued a $0.13 dividend. The ex-dividend date was Tuesday, July 9th. This represents a $0.52 annualized dividend and a yield of 0.94%. New York Times’s dividend payout ratio is currently 34.67%.

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.