Assenagon Asset Management S.A. Has $2.62 Million Stock Holdings in The New York Times Company $NYT

Assenagon Asset Management S.A. lessened its stake in shares of The New York Times Company (NYSE:NYT) by 2.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 46,880 shares of the company’s stock after selling 1,291 shares during the period. Assenagon Asset Management S.A.’s holdings in New York Times were worth $2,624,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of New York Times by 1.2% during the first quarter. Vanguard Group Inc. now owns 15,987,404 shares of the company’s stock valued at $792,975,000 after acquiring an additional 187,056 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in shares of New York Times by 7.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 10,392,977 shares of the company’s stock valued at $515,492,000 after acquiring an additional 698,433 shares during the period. Baillie Gifford & Co. raised its stake in New York Times by 19.0% during the 1st quarter. Baillie Gifford & Co. now owns 3,018,477 shares of the company’s stock valued at $149,716,000 after purchasing an additional 481,682 shares during the period. Dimensional Fund Advisors LP raised its stake in New York Times by 8.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,707,676 shares of the company’s stock valued at $134,292,000 after purchasing an additional 211,062 shares during the period. Finally, Alliancebernstein L.P. raised its stake in New York Times by 37.4% during the 1st quarter. Alliancebernstein L.P. now owns 2,622,794 shares of the company’s stock valued at $130,091,000 after purchasing an additional 714,317 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Guggenheim upped their price target on New York Times from $55.00 to $56.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Citigroup reissued a “buy” rating on shares of New York Times in a research report on Thursday, June 12th. Morgan Stanley increased their price target on shares of New York Times from $54.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 7th. Barclays set a $52.00 price target on shares of New York Times and gave the stock an “equal weight” rating in a research note on Thursday, August 7th. Finally, Evercore ISI increased their price objective on New York Times from $60.00 to $67.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.33.

Insider Activity at New York Times

In related news, EVP William Bardeen sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $58.04, for a total value of $290,200.00. Following the transaction, the executive vice president directly owned 11,243 shares in the company, valued at approximately $652,543.72. This trade represents a 30.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Jacqueline M. Welch sold 5,500 shares of the firm’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $60.04, for a total value of $330,220.00. Following the completion of the sale, the executive vice president directly owned 14,470 shares in the company, valued at approximately $868,778.80. This represents a 27.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

New York Times Price Performance

New York Times stock opened at $57.84 on Friday. The company has a market capitalization of $9.42 billion, a price-to-earnings ratio of 29.81, a PEG ratio of 1.45 and a beta of 1.16. The New York Times Company has a one year low of $44.83 and a one year high of $62.24. The company’s fifty day moving average price is $57.37 and its two-hundred day moving average price is $54.24.

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

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.