Darsana Capital Partners LP boosted its holdings in The New York Times Company (NYSE:NYT – Free Report) by 25.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,250,000 shares of the company’s stock after purchasing an additional 1,250,000 shares during the quarter. New York Times makes up 8.7% of Darsana Capital Partners LP’s portfolio, making the stock its 8th biggest holding. Darsana Capital Partners LP owned approximately 3.80% of New York Times worth $320,062,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the business. Janus Henderson Group PLC raised its holdings in shares of New York Times by 72.9% in the 1st quarter. Janus Henderson Group PLC now owns 122,820 shares of the company’s stock worth $5,308,000 after purchasing an additional 51,801 shares during the period. Cullinan Associates Inc. raised its stake in shares of New York Times by 10.3% in the 1st quarter. Cullinan Associates Inc. now owns 195,593 shares of the company’s stock valued at $8,454,000 after acquiring an additional 18,337 shares during the period. Allianz Asset Management GmbH boosted its position in New York Times by 3,368.3% during the 4th quarter. Allianz Asset Management GmbH now owns 181,981 shares of the company’s stock worth $8,915,000 after purchasing an additional 176,734 shares during the period. Entropy Technologies LP acquired a new stake in New York Times in the 1st quarter valued at $473,000. Finally, Comerica Bank boosted its position in shares of New York Times by 15.6% in the first quarter. Comerica Bank now owns 83,282 shares of the company’s stock worth $3,599,000 after buying an additional 11,234 shares during the period. 95.37% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at New York Times
In other news, CEO Levien Meredith A. Kopit sold 18,300 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $53.92, for a total transaction of $986,736.00. Following the completion of the sale, the chief executive officer now directly owns 101,772 shares of the company’s stock, valued at approximately $5,487,546.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other New York Times news, CEO Levien Meredith A. Kopit sold 18,300 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $53.92, for a total value of $986,736.00. Following the completion of the sale, the chief executive officer now owns 101,772 shares of the company’s stock, valued at $5,487,546.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO William Bardeen sold 2,000 shares of the business’s stock in a transaction 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 owns 10,315 shares of the company’s stock, valued at $562,786.40. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.
New York Times Price Performance
New York Times (NYSE:NYT – Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. The business had revenue of $625.00 million for the quarter, compared to the consensus estimate of $624.82 million. New York Times had a net margin of 10.81% and a return on equity of 17.45%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 EPS. On average, analysts forecast that The New York Times Company will post 1.9 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of New York Times from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Barclays increased their target price on New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $50.67.
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.
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