Renaissance Technologies LLC lifted its holdings in The New York Times Company (NYSE:NYT – Free Report) by 19.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,912,142 shares of the company’s stock after purchasing an additional 482,200 shares during the quarter. Renaissance Technologies LLC owned 1.77% of New York Times worth $149,131,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the business. Oak Family Advisors LLC grew its position in shares of New York Times by 2.2% in the 2nd quarter. Oak Family Advisors LLC now owns 10,685 shares of the company’s stock valued at $547,000 after acquiring an additional 231 shares during the period. Capital Investment Counsel Inc raised its stake in New York Times by 1.7% in the 2nd quarter. Capital Investment Counsel Inc now owns 22,701 shares of the company’s stock valued at $1,163,000 after acquiring an additional 380 shares during the period. Signaturefd LLC boosted its position in New York Times by 34.2% during the second quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock worth $87,000 after purchasing an additional 432 shares during the period. Quadrant Capital Group LLC raised its position in shares of New York Times by 15.9% in the fourth quarter. Quadrant Capital Group LLC now owns 3,289 shares of the company’s stock valued at $161,000 after purchasing an additional 451 shares during the period. Finally, Commonwealth Equity Services LLC raised its holdings in New York Times by 3.2% in the 1st quarter. Commonwealth Equity Services LLC now owns 17,222 shares of the company’s stock valued at $744,000 after acquiring an additional 527 shares during the period. Institutional investors own 95.37% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on NYT. JPMorgan Chase & Co. increased their target price on New York Times from $56.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Barclays boosted their target price on shares of New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, August 8th. Two equities 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 presently has an average rating of “Moderate Buy” and an average price target of $50.67.
Insider Buying and Selling
In other news, 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 sale, the chief financial officer now directly owns 10,315 shares of the company’s stock, valued at $562,786.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Levien Meredith A. Kopit sold 18,300 shares of the firm’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 transaction, the chief executive officer now owns 101,772 shares of the company’s stock, valued at $5,487,546.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO William Bardeen sold 2,000 shares of the business’s stock in a transaction on 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 directly owns 10,315 shares in the company, valued at approximately $562,786.40. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.
New York Times Trading Up 1.5 %
NYSE NYT opened at $53.54 on Monday. The firm’s 50 day simple moving average is $53.70 and its 200 day simple moving average is $49.04. The firm has a market capitalization of $8.79 billion, a price-to-earnings ratio of 35.69 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.
New York Times (NYSE:NYT – Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. The firm had revenue of $625.00 million for 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 company’s revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.38 EPS. On average, equities research analysts forecast that The New York Times Company will post 1.9 earnings per share for the current year.
New York Times Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Tuesday, July 9th were paid 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 payout ratio is 34.67%.
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.
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