The New York Times Company $NYT Shares Sold by Mattson Financial Services LLC

Mattson Financial Services LLC lessened its holdings in shares of The New York Times Company (NYSE:NYT) by 1.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 18,898 shares of the company’s stock after selling 348 shares during the period. Mattson Financial Services LLC’s holdings in New York Times were worth $1,058,000 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. Acadian Asset Management LLC boosted its stake in New York Times by 383.0% during the 1st quarter. Acadian Asset Management LLC now owns 1,765,338 shares of the company’s stock worth $87,538,000 after purchasing an additional 1,399,865 shares during the last quarter. AQR Capital Management LLC boosted its stake in New York Times by 101.6% during the 1st quarter. AQR Capital Management LLC now owns 2,351,100 shares of the company’s stock worth $115,627,000 after purchasing an additional 1,184,729 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in New York Times by 210.7% during the 1st quarter. Allianz Asset Management GmbH now owns 1,609,513 shares of the company’s stock worth $79,832,000 after purchasing an additional 1,091,430 shares during the last quarter. Burgundy Asset Management Ltd. boosted its stake in New York Times by 65.2% during the 1st quarter. Burgundy Asset Management Ltd. now owns 2,325,224 shares of the company’s stock worth $115,331,000 after purchasing an additional 917,766 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in New York Times during the 1st quarter worth $37,500,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

New York Times Price Performance

Shares of NYT opened at $55.66 on Friday. The New York Times Company has a 1-year low of $44.83 and a 1-year high of $62.24. The stock has a market cap of $9.06 billion, a PE ratio of 28.69, a P/E/G ratio of 1.38 and a beta of 1.16. The firm has a 50-day simple moving average of $57.99 and a two-hundred day simple moving average of $54.97.

New York Times (NYSE:NYT) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.08. New York Times had a net margin of 11.92% and a return on equity of 19.55%. The business had revenue of $685.90 million during the quarter, compared to analysts’ expectations of $670.22 million. During the same period last year, the business earned $0.45 earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, sell-side analysts expect that The New York Times Company will post 2.08 earnings per share for the current fiscal year.

New York Times Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Wednesday, October 8th will be given a dividend of $0.18 per share. The ex-dividend date is Wednesday, October 8th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.3%. New York Times’s dividend payout ratio (DPR) is currently 37.11%.

Wall Street Analyst Weigh In

NYT has been the topic of several analyst reports. Guggenheim lifted their price target on New York Times from $55.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Evercore ISI lifted their price target on New York Times from $60.00 to $67.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Zacks Research lowered New York Times from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Morgan Stanley lifted their price target on New York Times from $54.00 to $59.00 and gave the stock an “equal weight” rating in a report on Thursday, August 7th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of New York Times in a report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $60.33.

Insider Transactions at New York Times

In other New York Times news, EVP William Bardeen sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $58.04, for a total transaction of $290,200.00. Following the sale, the executive vice president directly owned 11,243 shares in the company, valued at $652,543.72. This represents a 30.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jacqueline M. Welch sold 5,500 shares of the business’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $60.04, for a total transaction of $330,220.00. Following the sale, the executive vice president owned 14,470 shares in the company, valued at $868,778.80. This trade represents a 27.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.

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.