The New York Times Company (NYSE:NYT) Shares Bought by Redwood Investment Management LLC

Redwood Investment Management LLC increased its holdings in The New York Times Company (NYSE:NYT) by 14.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,789 shares of the company’s stock after buying an additional 1,915 shares during the quarter. Redwood Investment Management LLC’s holdings in New York Times were worth $639,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC acquired a new position in New York Times in the 4th quarter worth approximately $31,000. TFO Wealth Partners LLC grew its stake in shares of New York Times by 84,033.3% during the 4th 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 period. Quadrant Capital Group LLC grew its stake in shares of New York Times by 15.9% during the 4th 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 period. Boston Family Office LLC acquired a new stake in shares of New York Times during the 4th quarter worth approximately $206,000. Finally, Boston Trust Walden Corp acquired a new stake in shares of New York Times during the 4th quarter worth approximately $212,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

Insider Buying and Selling at New York Times

In other New York Times news, CAO R Anthony Benten sold 5,171 shares of New York Times stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $48.98, for a total value of $253,275.58. Following the completion of the transaction, the chief accounting officer now directly owns 38,576 shares of the company’s stock, valued at approximately $1,889,452.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CAO R Anthony Benten sold 5,171 shares of the business’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 completion of the transaction, the chief accounting officer now directly owns 38,576 shares of the company’s stock, valued at $1,889,452.48. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Levien Meredith A. Kopit sold 12,548 shares of the business’s stock in a transaction that occurred on 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 owns 120,072 shares of the company’s stock, valued at approximately $5,729,835.84. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, Evercore ISI raised their price objective on shares of New York Times from $50.00 to $53.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, New York Times presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.71.

New York Times Price Performance

Shares of NYSE:NYT traded up $0.10 during midday trading on Thursday, reaching $53.69. 63,425 shares of the company’s stock were exchanged, compared to its average volume of 1,190,944. The firm’s 50 day simple moving average is $51.58 and its two-hundred day simple moving average is $47.32. The stock has a market cap of $8.82 billion, a price-to-earnings ratio of 35.73 and a beta of 1.06. The New York Times Company has a fifty-two week low of $39.73 and a fifty-two week high of $55.63.

New York Times (NYSE:NYT) last issued its quarterly earnings data 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. The firm had revenue of $594.00 million during the quarter, compared to the consensus estimate of $591.97 million. New York Times had a return on equity of 17.33% and a net margin of 10.19%. The company’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the company earned $0.19 EPS. Equities research analysts predict that The New York Times Company will post 1.77 earnings per share for the current fiscal year.

New York Times Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.97%. The ex-dividend date was Tuesday, July 9th. New York Times’s dividend payout ratio is currently 34.67%.

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.