Amalgamated Bank Sells 6,797 Shares of The New York Times Company (NYSE:NYT)

Amalgamated Bank cut its stake in shares of The New York Times Company (NYSE:NYT) by 7.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,508 shares of the company’s stock after selling 6,797 shares during the quarter. Amalgamated Bank owned 0.05% of New York Times worth $4,225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV raised its stake in shares of New York Times by 2.1% during the second quarter. Mercer Global Advisors Inc. ADV now owns 11,867 shares of the company’s stock worth $608,000 after acquiring an additional 247 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of New York Times during the second quarter worth approximately $211,000. Renaissance Technologies LLC raised its stake in shares of New York Times by 19.8% during the second quarter. Renaissance Technologies LLC now owns 2,912,142 shares of the company’s stock worth $149,131,000 after acquiring an additional 482,200 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of New York Times by 22.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,424,700 shares of the company’s stock worth $124,164,000 after acquiring an additional 438,680 shares in the last quarter. Finally, Nia Impact Advisors LLC raised its stake in shares of New York Times by 7.2% during the second quarter. Nia Impact Advisors LLC now owns 24,987 shares of the company’s stock worth $1,280,000 after acquiring an additional 1,675 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at New York Times

In related news, CFO William Bardeen sold 2,000 shares of New York Times stock in a transaction on Friday, August 9th. The shares were sold at an average price of $54.56, for a total value of $109,120.00. Following the sale, the chief financial officer now owns 10,315 shares in the company, valued at $562,786.40. The transaction was disclosed in a document filed with the SEC, 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 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 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 document filed with the SEC, which is accessible through this link. Also, CFO William Bardeen sold 2,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $54.56, for a total transaction of $109,120.00. Following the sale, the chief financial officer now 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 company insiders.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Barclays lifted their price target on shares of New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. lifted their target price 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 equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $50.67.

New York Times Stock Down 0.1 %

Shares of NYSE NYT opened at $54.49 on Friday. The company has a market cap of $8.95 billion, a price-to-earnings ratio of 36.33 and a beta of 1.03. The firm’s fifty day moving average is $53.95 and its 200 day moving average is $49.41. The New York Times Company has a 52 week low of $39.73 and a 52 week high of $56.49.

New York Times (NYSE:NYT) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.04. The business had revenue of $625.00 million for the quarter, compared to analysts’ expectations of $624.82 million. New York Times had a net margin of 10.81% and a return on equity of 17.45%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 earnings per share. Equities research analysts anticipate 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 declared a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Tuesday, July 9th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Tuesday, July 9th. New York Times’s dividend payout ratio (DPR) 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.