Susquehanna Fundamental Investments LLC Boosts Stake in The New York Times Company (NYSE:NYT)

Susquehanna Fundamental Investments LLC raised its holdings in shares of The New York Times Company (NYSE:NYT) by 143.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 154,210 shares of the company’s stock after buying an additional 90,814 shares during the period. Susquehanna Fundamental Investments LLC owned about 0.09% of New York Times worth $7,897,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Wells Fargo & Company MN boosted its holdings in New York Times by 7.1% during the 4th quarter. Wells Fargo & Company MN now owns 173,109 shares of the company’s stock valued at $8,481,000 after acquiring an additional 11,516 shares during the period. Commerce Bank bought a new stake in shares of New York Times during the fourth quarter worth $393,000. TD Asset Management Inc boosted its stake in shares of New York Times by 56.5% during the fourth quarter. TD Asset Management Inc now owns 417,600 shares of the company’s stock valued at $20,458,000 after purchasing an additional 150,800 shares during the period. Allianz Asset Management GmbH grew its holdings in shares of New York Times by 3,368.3% in the fourth quarter. Allianz Asset Management GmbH now owns 181,981 shares of the company’s stock worth $8,915,000 after purchasing an additional 176,734 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in New York Times by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 71,624 shares of the company’s stock worth $3,509,000 after buying an additional 700 shares during the period. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on NYT shares. Barclays boosted their price objective 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. JPMorgan Chase & Co. increased their price objective 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 research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.67.

New York Times Stock Performance

NYSE:NYT opened at $55.32 on Friday. The firm has a 50-day simple moving average of $54.15 and a 200-day simple moving average of $49.78. The New York Times Company has a one year low of $39.73 and a one year high of $56.49. The firm has a market cap of $9.09 billion, a P/E ratio of 36.88 and a beta of 1.03.

New York Times (NYSE:NYT) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. The company had revenue of $625.00 million during the quarter, compared to the consensus estimate of $624.82 million. New York Times had a net margin of 10.81% and a return on equity of 17.45%. New York Times’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 firm posted $0.38 earnings per share. On average, research analysts predict that The New York Times Company will post 1.9 EPS for the current fiscal year.

Insider Transactions at New York Times

In other New York Times news, CEO Levien Meredith A. Kopit sold 18,300 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $53.92, for a total value of $986,736.00. Following the completion of the transaction, the chief executive officer now directly owns 101,772 shares in the company, valued at $5,487,546.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, 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 transaction, the chief financial officer now directly owns 10,315 shares in the company, valued at approximately $562,786.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Levien Meredith A. Kopit sold 18,300 shares of the stock in a transaction dated Monday, August 12th. The shares were 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 of the company’s stock, valued at $5,487,546.24. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

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.