Algert Global LLC Raises Stock Position in The New York Times Company (NYSE:NYT)

Algert Global LLC increased its stake in The New York Times Company (NYSE:NYT) by 17.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 106,623 shares of the company’s stock after acquiring an additional 15,655 shares during the quarter. Algert Global LLC’s holdings in New York Times were worth $5,460,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NYT. Farallon Capital Management LLC increased its holdings in New York Times by 18.1% in the 1st quarter. Farallon Capital Management LLC now owns 11,188,059 shares of the company’s stock worth $483,548,000 after acquiring an additional 1,711,268 shares in the last quarter. Darsana Capital Partners LP increased its holdings in New York Times by 25.0% in the 2nd quarter. Darsana Capital Partners LP now owns 6,250,000 shares of the company’s stock worth $320,062,000 after acquiring an additional 1,250,000 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of New York Times during the first quarter worth $42,434,000. Renaissance Technologies LLC grew its holdings 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 buying an additional 482,200 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings 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 buying an additional 438,680 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Insider Activity

In other news, CFO William Bardeen sold 2,000 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $54.56, for a total transaction of $109,120.00. Following the transaction, the chief financial officer now owns 10,315 shares of the company’s stock, valued at approximately $562,786.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other New York Times news, CEO Levien Meredith A. Kopit sold 18,300 shares of the company’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 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 filing with the Securities & Exchange Commission, which is available at this link. Also, CFO William Bardeen sold 2,000 shares of the company’s stock in a transaction dated 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 disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

New York Times Trading Up 0.3 %

Shares of NYT stock opened at $55.32 on Monday. The company’s 50-day moving average price is $54.15 and its 200-day moving average price is $49.82. The stock has a market cap of $9.09 billion, a price-to-earnings ratio of 36.88 and a beta of 1.03. The New York Times Company has a twelve month low of $39.73 and a twelve month high of $56.49.

New York Times (NYSE:NYT) last announced 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 firm 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 company’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS. As a group, equities research analysts predict that The New York Times Company will post 1.9 EPS for the current year.

Wall Street Analyst Weigh In

NYT has been the subject of a number of research reports. JPMorgan Chase & Co. upped their target price on shares of New York Times from $56.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Barclays upped their target price on shares of New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, New York Times has an average rating of “Moderate Buy” and a consensus price target of $50.67.

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.