Exchange Traded Concepts LLC Has $766,000 Stock Holdings in The New York Times Company (NYSE:NYT)

Exchange Traded Concepts LLC cut its stake in The New York Times Company (NYSE:NYT) by 9.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,767 shares of the company’s stock after selling 1,508 shares during the period. Exchange Traded Concepts LLC’s holdings in New York Times were worth $766,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NYT. Vanguard Group Inc. raised its holdings in New York Times by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 15,809,453 shares of the company’s stock valued at $774,505,000 after acquiring an additional 80,075 shares in the last quarter. NBC Securities Inc. raised its holdings in shares of New York Times by 292.5% during the 1st quarter. NBC Securities Inc. now owns 11,461 shares of the company’s stock worth $495,000 after buying an additional 8,541 shares in the last quarter. Douglas Lane & Associates LLC raised its holdings in shares of New York Times by 30.1% during the 1st quarter. Douglas Lane & Associates LLC now owns 88,822 shares of the company’s stock worth $3,839,000 after buying an additional 20,567 shares in the last quarter. FCF Advisors LLC acquired a new position in shares of New York Times during the 1st quarter worth $324,000. Finally, Oak Thistle LLC acquired a new position in shares of New York Times during the 1st quarter worth $452,000. 95.37% of the stock is owned by institutional investors and hedge funds.

New York Times Price Performance

NYSE NYT opened at $55.45 on Friday. The business has a 50 day simple moving average of $54.68 and a 200 day simple moving average of $51.00. The New York Times Company has a one year low of $39.73 and a one year high of $56.49. The stock has a market capitalization of $9.11 billion, a P/E ratio of 34.23 and a beta of 1.03.

New York Times (NYSE:NYT) last released its earnings results on Wednesday, August 7th. The company reported $0.45 EPS for the quarter, topping the consensus estimate 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 business had revenue of $625.00 million during the quarter, compared to analysts’ expectations of $624.82 million. During the same quarter last year, the firm posted $0.38 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis. Equities analysts expect that The New York Times Company will post 1.83 earnings per share for the current year.

New York Times Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Wednesday, October 9th will be paid a dividend of $0.13 per share. The ex-dividend date is Wednesday, October 9th. This represents a $0.52 annualized dividend and a yield of 0.94%. New York Times’s dividend payout ratio is currently 32.10%.

Insider Buying and Selling

In related news, CFO William Bardeen sold 2,000 shares of the firm’s stock in a transaction that occurred 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 owns 10,315 shares of the company’s stock, valued at $562,786.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other New York Times news, CEO Levien Meredith A. Kopit sold 18,300 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $5,487,546.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO William Bardeen sold 2,000 shares of the firm’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 value of $109,120.00. Following the completion of the sale, the chief financial officer now directly owns 10,315 shares of the company’s stock, valued at $562,786.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. upped their price target on New York Times from $56.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft assumed coverage on New York Times in a research report on Wednesday, October 9th. They issued a “buy” rating and a $65.00 price target on the stock. Finally, Barclays upped their price target on 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 investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $52.71.

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.