MQS Management LLC Sells 7,563 Shares of The New York Times Company (NYSE:NYT)

MQS Management LLC lowered its position in shares of The New York Times Company (NYSE:NYT) by 61.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,653 shares of the company’s stock after selling 7,563 shares during the quarter. MQS Management LLC’s holdings in New York Times were worth $238,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NYT. GAMMA Investing LLC grew its position in New York Times by 129.4% during the second quarter. GAMMA Investing LLC now owns 1,404 shares of the company’s stock valued at $72,000 after buying an additional 792 shares during the period. Signaturefd LLC boosted its stake 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 acquiring an additional 432 shares during the last quarter. Blue Trust Inc. grew its position in shares of New York Times by 401.8% during the 2nd quarter. Blue Trust Inc. now owns 2,248 shares of the company’s stock valued at $115,000 after acquiring an additional 1,800 shares during the period. TFO Wealth Partners LLC increased 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 last quarter. Finally, Bailard Inc. bought a new stake in shares of New York Times in the 2nd quarter worth approximately $205,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

New York Times Price Performance

Shares of NYT stock opened at $54.49 on Friday. The New York Times Company has a 1 year low of $39.73 and a 1 year high of $56.49. The company’s fifty day simple moving average is $53.95 and its two-hundred day simple moving average is $49.41. The stock has a market capitalization of $8.95 billion, a price-to-earnings ratio of 36.33 and a beta of 1.03.

New York Times (NYSE:NYT) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. New York Times had a return on equity of 17.45% and a net margin of 10.81%. The company had revenue of $625.00 million for the quarter, compared to analyst estimates of $624.82 million. During the same period in the previous year, the company posted $0.38 EPS. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities research analysts anticipate that The New York Times Company will post 1.9 EPS for the current year.

New York Times Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th were given a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.95%. New York Times’s dividend payout ratio (DPR) is currently 34.67%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on NYT shares. Barclays raised their target price on New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. increased their price target 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. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $50.67.

Insider Activity

In related news, CFO William Bardeen sold 2,000 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $562,786.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, 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 completion of the transaction, the chief financial officer now directly owns 10,315 shares in the company, valued at approximately $562,786.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Levien Meredith A. Kopit sold 18,300 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $53.92, for a total value 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. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

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.