645 Shares in The New York Times Company (NYSE:NYT) Bought by GAMMA Investing LLC

GAMMA Investing LLC purchased a new stake in The New York Times Company (NYSE:NYT) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 645 shares of the company’s stock, valued at approximately $31,000.

Several other large investors have also bought and sold shares of NYT. Wedge Capital Management L L P NC raised its holdings in shares of New York Times by 8.3% in the fourth quarter. Wedge Capital Management L L P NC now owns 29,701 shares of the company’s stock valued at $1,455,000 after purchasing an additional 2,281 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in New York Times by 11.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,343 shares of the company’s stock valued at $1,633,000 after buying an additional 3,354 shares during the last quarter. Lecap Asset Management Ltd. bought a new position in shares of New York Times during the 4th quarter worth approximately $763,000. Louisiana State Employees Retirement System bought a new position in shares of New York Times during the 4th quarter worth approximately $2,254,000. Finally, Perigon Wealth Management LLC purchased a new position in shares of New York Times in the 4th quarter worth approximately $245,000. 95.37% of the stock is currently owned by institutional investors.

New York Times Trading Up 1.3 %

Shares of NYSE NYT opened at $45.04 on Monday. The firm has a market cap of $7.39 billion, a price-to-earnings ratio of 32.40 and a beta of 1.00. The stock has a fifty day simple moving average of $43.31 and a two-hundred day simple moving average of $44.80. The New York Times Company has a 1-year low of $35.06 and a 1-year high of $49.87.

New York Times (NYSE:NYT) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.10. New York Times had a return on equity of 16.48% and a net margin of 9.58%. The company had revenue of $676.20 million during the quarter, compared to the consensus estimate of $680.02 million. During the same quarter in the prior year, the company earned $0.65 EPS. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. Analysts forecast that The New York Times Company will post 1.64 EPS for the current year.

New York Times Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Tuesday, April 2nd were paid a dividend of $0.13 per share. This is a boost from New York Times’s previous quarterly dividend of $0.11. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend was Monday, April 1st. New York Times’s dividend payout ratio is presently 37.41%.

Insider Buying and Selling

In other New York Times news, EVP Diane Brayton sold 7,000 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $42.84, for a total transaction of $299,880.00. Following the sale, the executive vice president now owns 39,312 shares of the company’s stock, valued at approximately $1,684,126.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director David S. Perpich sold 3,014 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $44.03, for a total value of $132,706.42. Following the sale, the director now directly owns 20,813 shares of the company’s stock, valued at $916,396.39. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Diane Brayton sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $42.84, for a total transaction of $299,880.00. Following the transaction, the executive vice president now directly owns 39,312 shares of the company’s stock, valued at approximately $1,684,126.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,557 shares of company stock valued at $1,029,968. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on NYT shares. StockNews.com raised New York Times from a “hold” rating to a “buy” rating in a research report on Wednesday, March 20th. Argus raised New York Times from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research report on Monday, March 4th. Finally, Citigroup started coverage on shares of New York Times in a report on Tuesday, March 12th. They issued a “buy” rating and a $52.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $45.67.

About New York Times

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.