Assenagon Asset Management S.A. Has $20.11 Million Stock Holdings in The New York Times Company (NYSE:NYT)

Assenagon Asset Management S.A. grew its position in shares of The New York Times Company (NYSE:NYT) by 582.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 361,235 shares of the company’s stock after acquiring an additional 308,277 shares during the quarter. Assenagon Asset Management S.A.’s holdings in New York Times were worth $20,110,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Farallon Capital Management LLC boosted its holdings in New York Times by 18.1% during the first quarter. Farallon Capital Management LLC now owns 11,188,059 shares of the company’s stock worth $483,548,000 after purchasing an additional 1,711,268 shares during the last quarter. Darsana Capital Partners LP lifted its position in New York Times by 25.0% during the 2nd quarter. Darsana Capital Partners LP now owns 6,250,000 shares of the company’s stock worth $320,062,000 after buying an additional 1,250,000 shares in the last quarter. Renaissance Technologies LLC lifted its position in New York Times by 19.8% during the 2nd 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. Dimensional Fund Advisors LP boosted its stake in shares of New York Times by 22.1% during the 2nd 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 during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of New York Times by 1.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,660,015 shares of the company’s stock valued at $85,009,000 after acquiring an additional 19,196 shares in the last quarter. 95.37% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO William Bardeen sold 2,000 shares of New York Times 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 directly owns 10,315 shares of the company’s stock, valued at approximately $562,786.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other New York Times news, CFO William Bardeen sold 2,000 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $54.56, for a total value of $109,120.00. Following the transaction, the chief financial officer now directly owns 10,315 shares of the company’s stock, valued at $562,786.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Levien Meredith A. Kopit sold 18,300 shares of New York Times 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 sale, the chief executive officer now directly owns 101,772 shares of the company’s stock, valued at $5,487,546.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on NYT. Deutsche Bank Aktiengesellschaft initiated coverage on New York Times in a report on Wednesday, October 9th. They set a “buy” rating and a $65.00 target price on the stock. Barclays increased their price objective on New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of New York Times from $56.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $52.71.

New York Times Trading Up 1.6 %

NYT stock opened at $55.43 on Friday. The business’s 50 day simple moving average is $54.72 and its 200 day simple moving average is $51.40. The New York Times Company has a 1-year low of $39.73 and a 1-year high of $56.49. The firm has a market capitalization of $9.10 billion, a PE ratio of 34.22 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 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.04. The company had revenue of $625.00 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.38 earnings per share. As a group, sell-side analysts predict that The New York Times Company will post 1.83 EPS for the current fiscal year.

New York Times Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date was Wednesday, October 9th. New York Times’s dividend payout ratio is presently 32.10%.

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.