Trexquant Investment LP Boosts Stock Position in The New York Times Company (NYSE:NYT)

Trexquant Investment LP increased its holdings in shares of The New York Times Company (NYSE:NYT) by 149.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 358,303 shares of the company’s stock after purchasing an additional 214,620 shares during the quarter. Trexquant Investment LP owned approximately 0.22% of New York Times worth $18,650,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Franklin Resources Inc. lifted its stake in New York Times by 1.5% in the 3rd quarter. Franklin Resources Inc. now owns 3,353,792 shares of the company’s stock worth $187,544,000 after purchasing an additional 49,853 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of New York Times by 95.3% in the third quarter. BNP Paribas Financial Markets now owns 82,104 shares of the company’s stock worth $4,571,000 after buying an additional 40,058 shares in the last quarter. Clark & Stuart Inc bought a new position in New York Times during the fourth quarter valued at approximately $8,490,000. Park Avenue Securities LLC grew its holdings in New York Times by 236.0% during the 4th quarter. Park Avenue Securities LLC now owns 13,985 shares of the company’s stock valued at $728,000 after buying an additional 9,823 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in New York Times during the 4th quarter valued at approximately $1,200,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on NYT. Morgan Stanley cut their target price on shares of New York Times from $56.00 to $54.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. StockNews.com raised shares of New York Times from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.00.

New York Times Trading Up 1.3 %

NYT stock opened at $49.64 on Tuesday. The New York Times Company has a 12 month low of $41.55 and a 12 month high of $58.16. The stock has a market cap of $8.11 billion, a PE ratio of 27.89, a P/E/G ratio of 1.75 and a beta of 1.18. The company has a 50-day moving average price of $49.89 and a 200 day moving average price of $52.69.

New York Times (NYSE:NYT) last issued its earnings results on Wednesday, February 5th. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. New York Times had a net margin of 11.36% and a return on equity of 18.51%. Sell-side analysts forecast that The New York Times Company will post 2.08 EPS for the current year.

New York Times Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Tuesday, April 1st will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Tuesday, April 1st. This is a positive change from New York Times’s previous quarterly dividend of $0.13. New York Times’s payout ratio is 40.45%.

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.