New York Times Company (The) (NYT) Shares Bought by First Trust Advisors LP
First Trust Advisors LP increased its stake in New York Times Company (The) (NYSE:NYT) by 43.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,962 shares of the company’s stock after purchasing an additional 10,935 shares during the quarter. First Trust Advisors LP’s holdings in New York Times Company (The) were worth $637,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Envestnet Asset Management Inc. lifted its holdings in New York Times Company (The) by 384.2% in the first quarter. Envestnet Asset Management Inc. now owns 7,800 shares of the company’s stock worth $112,000 after purchasing an additional 6,189 shares during the period. LS Investment Advisors LLC lifted its holdings in New York Times Company (The) by 17.5% in the second quarter. LS Investment Advisors LLC now owns 9,767 shares of the company’s stock worth $173,000 after purchasing an additional 1,452 shares during the period. Sei Investments Co. lifted its holdings in New York Times Company (The) by 93.3% in the second quarter. Sei Investments Co. now owns 10,341 shares of the company’s stock worth $183,000 after purchasing an additional 4,990 shares during the period. Independent Portfolio Consultants Inc. lifted its holdings in New York Times Company (The) by 1,082.8% in the second quarter. Independent Portfolio Consultants Inc. now owns 11,710 shares of the company’s stock worth $207,000 after purchasing an additional 10,720 shares during the period. Finally, Quantitative Investment Management LLC acquired a new stake in New York Times Company (The) in the first quarter worth about $210,000. 63.98% of the stock is owned by institutional investors and hedge funds.
Shares of New York Times Company (NYSE:NYT) opened at 19.45 on Monday. The firm has a 50-day moving average of $18.72 and a 200 day moving average of $16.96. The company has a market capitalization of $3.15 billion, a PE ratio of 49.49 and a beta of 1.78. New York Times Company has a 12 month low of $10.60 and a 12 month high of $20.15.
New York Times Company (The) (NYSE:NYT) last announced its earnings results on Thursday, July 27th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.13 by $0.05. The company had revenue of $407.10 million for the quarter, compared to analysts’ expectations of $393.07 million. New York Times Company (The) had a return on equity of 12.76% and a net margin of 4.12%. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.11 earnings per share. On average, equities research analysts expect that New York Times Company will post $0.71 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 19th. Stockholders of record on Wednesday, October 4th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend is Tuesday, October 3rd. New York Times Company (The)’s payout ratio is presently 40.00%.
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Several equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of New York Times Company (The) from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a report on Monday, July 31st. Barclays PLC upped their price objective on shares of New York Times Company (The) from $15.00 to $16.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. New York Times Company (The) has an average rating of “Hold” and an average price target of $15.20.
In related news, CFO James M. Follo sold 138,161 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $18.97, for a total value of $2,620,914.17. Following the transaction, the chief financial officer now owns 136,523 shares in the company, valued at $2,589,841.31. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Carso S.A. De C.V. Inversora sold 521,500 shares of the firm’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $19.27, for a total value of $10,049,305.00. Following the completion of the transaction, the insider now owns 19,353,000 shares in the company, valued at approximately $372,932,310. The disclosure for this sale can be found here. 5.70% of the stock is currently owned by corporate insiders.
About New York Times Company (The)
The New York Times Company is a media company focused on creating, collecting and distributing news and information. The Company’s principal business consists of distributing content generated by its newsroom through its print, Web and mobile platforms. In addition, it distributes selected content on third-party platforms.
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