Lecap Asset Management Ltd. Sells 1,584 Shares of The New York Times Company (NYSE:NYT)

Lecap Asset Management Ltd. reduced its stake in shares of The New York Times Company (NYSE:NYT) by 6.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 23,097 shares of the company’s stock after selling 1,584 shares during the quarter. Lecap Asset Management Ltd.’s holdings in New York Times were worth $1,286,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Oak Family Advisors LLC lifted its holdings in New York Times by 2.2% in the second quarter. Oak Family Advisors LLC now owns 10,685 shares of the company’s stock valued at $547,000 after buying an additional 231 shares during the period. Mercer Global Advisors Inc. ADV lifted its holdings in New York Times by 2.1% in the second quarter. Mercer Global Advisors Inc. ADV now owns 11,867 shares of the company’s stock valued at $608,000 after buying an additional 247 shares during the period. UMB Bank n.a. lifted its holdings in New York Times by 356.4% in the third quarter. UMB Bank n.a. now owns 461 shares of the company’s stock valued at $26,000 after buying an additional 360 shares during the period. Capital Investment Counsel Inc lifted its holdings in New York Times by 1.7% in the second quarter. Capital Investment Counsel Inc now owns 22,701 shares of the company’s stock valued at $1,163,000 after buying an additional 380 shares during the period. Finally, Signaturefd LLC lifted its holdings in New York Times by 34.2% in the second quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock valued at $87,000 after buying an additional 432 shares during the period. 95.37% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Levien Meredith A. Kopit sold 18,300 shares of the firm’s stock in a transaction dated 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Levien Meredith A. Kopit sold 18,300 shares of the firm’s stock in a transaction dated 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO William Bardeen sold 2,000 shares of New York Times 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 owns 10,315 shares of the company’s stock, valued at $562,786.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

New York Times Trading Down 0.5 %

New York Times stock opened at $54.45 on Thursday. The company has a market cap of $8.94 billion, a P/E ratio of 33.61 and a beta of 1.03. The New York Times Company has a 1-year low of $39.73 and a 1-year high of $56.49. The company has a fifty day simple moving average of $54.70 and a 200 day simple moving average of $51.30.

New York Times (NYSE:NYT) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $625.00 million during the quarter, compared to the consensus estimate of $624.82 million. During the same quarter last year, the firm posted $0.38 EPS. The company’s quarterly revenue was up 5.8% on a year-over-year basis. On average, equities research analysts forecast that The New York Times Company will post 1.83 EPS for the current year.

New York Times Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Wednesday, October 9th. New York Times’s dividend payout ratio (DPR) is presently 32.10%.

Wall Street Analyst Weigh In

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

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.