GAMMA Investing LLC Makes New Investment in The New York Times Company (NYSE:NYT)

GAMMA Investing LLC purchased a new stake in shares of The New York Times Company (NYSE:NYT) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 645 shares of the company’s stock, valued at approximately $31,000.

Several other institutional investors also recently modified their holdings of NYT. Robeco Institutional Asset Management B.V. lifted its stake in New York Times by 127.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 41,450 shares of the company’s stock valued at $1,708,000 after acquiring an additional 23,250 shares during the period. Xponance Inc. lifted its position in New York Times by 13.0% during the third quarter. Xponance Inc. now owns 22,468 shares of the company’s stock valued at $926,000 after purchasing an additional 2,586 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in New York Times by 12.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,989 shares of the company’s stock worth $1,236,000 after purchasing an additional 3,220 shares during the last quarter. Advisor Partners II LLC boosted its holdings in New York Times by 57.6% in the third quarter. Advisor Partners II LLC now owns 10,827 shares of the company’s stock worth $446,000 after purchasing an additional 3,957 shares during the last quarter. Finally, TD Asset Management Inc bought a new stake in New York Times in the 3rd quarter worth approximately $10,992,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

New York Times Stock Performance

NYSE:NYT opened at $45.04 on Monday. The stock has a 50-day simple moving average of $43.31 and a two-hundred day simple moving average of $44.80. The firm has a market capitalization of $7.39 billion, a PE ratio of 32.40 and a beta of 1.00. The New York Times Company has a 52-week low of $35.06 and a 52-week high of $49.87.

New York Times (NYSE:NYT) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the company posted $0.65 EPS. The firm’s revenue was up 1.3% on a year-over-year basis. Equities analysts forecast that The New York Times Company will post 1.64 earnings per share for the current fiscal year.

New York Times Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Tuesday, April 2nd were paid a $0.13 dividend. The ex-dividend date of this dividend was Monday, April 1st. 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%. New York Times’s dividend payout ratio is 37.41%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Citigroup started coverage on New York Times in a report on Tuesday, March 12th. They set a “buy” rating and a $52.00 price target on the stock. Argus raised New York Times from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research report on Monday, March 4th. Finally, StockNews.com raised shares of New York Times from a “hold” rating to a “buy” rating in a research report on Wednesday, March 20th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, New York Times presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.67.

Insider Activity at New York Times

In other New York Times news, CEO Levien Meredith A. Kopit sold 13,543 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $44.11, for a total value of $597,381.73. Following the completion of the sale, the chief executive officer now owns 90,759 shares in the company, valued at approximately $4,003,379.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Levien Meredith A. Kopit sold 13,543 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $44.11, for a total value of $597,381.73. Following the transaction, the chief executive officer now directly owns 90,759 shares of the company’s stock, valued at approximately $4,003,379.49. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Diane Brayton sold 7,000 shares of the 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 sale, the executive vice president now directly owns 39,312 shares of the company’s stock, valued at $1,684,126.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,557 shares of company stock worth $1,029,968. 2.00% of the stock is owned by corporate insiders.

New York Times Company 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.