Algert Global LLC Boosts Stock Position in The New York Times Company (NYSE:NYT)

Algert Global LLC raised its position in shares of The New York Times Company (NYSE:NYT) by 17.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 106,623 shares of the company’s stock after buying an additional 15,655 shares during the quarter. Algert Global LLC owned about 0.06% of New York Times worth $5,460,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC grew its position in shares of New York Times by 143.2% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 154,210 shares of the company’s stock worth $7,897,000 after buying an additional 90,814 shares during the last quarter. Darsana Capital Partners LP grew its position in shares of New York Times by 25.0% in the 2nd quarter. Darsana Capital Partners LP now owns 6,250,000 shares of the company’s stock worth $320,062,000 after buying an additional 1,250,000 shares during the last quarter. AQR Capital Management LLC grew its position in shares of New York Times by 10.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,091,398 shares of the company’s stock worth $55,694,000 after buying an additional 99,757 shares during the last quarter. Caxton Associates LP purchased a new position in shares of New York Times in the 2nd quarter worth approximately $534,000. Finally, Bank of Montreal Can grew its position in shares of New York Times by 964.9% in the 2nd quarter. Bank of Montreal Can now owns 266,079 shares of the company’s stock worth $13,637,000 after buying an additional 241,093 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

New York Times Stock Up 0.3 %

NYT stock opened at $55.32 on Monday. The firm has a 50 day moving average of $54.15 and a 200 day moving average of $49.82. The stock has a market capitalization of $9.09 billion, a PE ratio of 36.88 and a beta of 1.03. The New York Times Company has a 52 week low of $39.73 and a 52 week high of $56.49.

New York Times (NYSE:NYT) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.41 by $0.04. New York Times had a net margin of 10.81% and a return on equity of 17.45%. The business had revenue of $625.00 million during the quarter, compared to analysts’ expectations of $624.82 million. During the same period in the previous year, the business posted $0.38 EPS. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, equities research analysts expect that The New York Times Company will post 1.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on NYT shares. JPMorgan Chase & Co. lifted their price objective on shares of New York Times from $56.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Barclays lifted their target price on shares of New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.67.

Insider Buying and Selling at New York Times

In other New York Times news, CFO William Bardeen sold 2,000 shares of New York Times stock in a transaction that occurred on Friday, August 9th. The shares were 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 directly owns 10,315 shares in the company, valued at approximately $562,786.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other New York Times news, CFO William Bardeen sold 2,000 shares of New York Times stock in a transaction that occurred on Friday, August 9th. The shares were 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 directly owns 10,315 shares in the company, valued at approximately $562,786.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Levien Meredith A. Kopit sold 18,300 shares of New York Times stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $53.92, for a total transaction of $986,736.00. Following the transaction, the chief executive officer now directly owns 101,772 shares of the company’s stock, valued at $5,487,546.24. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

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.