Acadian Asset Management LLC Has $124.97 Million Stock Position in The New York Times Company $NYT

Acadian Asset Management LLC increased its stake in shares of The New York Times Company (NYSE:NYT) by 26.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,232,830 shares of the company’s stock after acquiring an additional 467,492 shares during the period. Acadian Asset Management LLC owned about 1.37% of New York Times worth $124,973,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Hantz Financial Services Inc. increased its position in shares of New York Times by 4,591.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 563 shares of the company’s stock worth $32,000 after purchasing an additional 551 shares during the last quarter. True Wealth Design LLC boosted its holdings in shares of New York Times by 519.6% in the 2nd quarter. True Wealth Design LLC now owns 570 shares of the company’s stock valued at $32,000 after buying an additional 478 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of New York Times by 690.7% in the first quarter. Geneos Wealth Management Inc. now owns 846 shares of the company’s stock valued at $42,000 after buying an additional 739 shares in the last quarter. WPG Advisers LLC acquired a new position in New York Times during the first quarter worth $60,000. Finally, UMB Bank n.a. raised its position in New York Times by 79.3% during the second quarter. UMB Bank n.a. now owns 1,675 shares of the company’s stock worth $94,000 after acquiring an additional 741 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of New York Times in a research report on Wednesday, October 8th. UBS Group set a $62.00 price target on New York Times in a report on Thursday. Zacks Research downgraded New York Times from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Evercore ISI reaffirmed an “outperform” rating on shares of New York Times in a research report on Thursday. Finally, JPMorgan Chase & Co. lifted their target price on New York Times from $70.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday. 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 company has an average rating of “Moderate Buy” and a consensus price target of $62.17.

New York Times Price Performance

NYT opened at $61.29 on Friday. The business has a fifty day simple moving average of $57.34 and a 200 day simple moving average of $56.08. The New York Times Company has a 1 year low of $44.83 and a 1 year high of $62.24. The company has a market capitalization of $9.98 billion, a PE ratio of 31.60, a price-to-earnings-growth ratio of 1.41 and a beta of 1.14.

New York Times (NYSE:NYT) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.05. New York Times had a return on equity of 19.55% and a net margin of 11.92%.The firm had revenue of $700.82 million for the quarter, compared to analysts’ expectations of $692.01 million. During the same quarter last year, the business earned $0.45 EPS. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. Equities analysts anticipate that The New York Times Company will post 2.08 earnings per share for the current fiscal year.

New York Times Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 23rd. Shareholders of record on Wednesday, October 8th were paid a $0.18 dividend. The ex-dividend date was Wednesday, October 8th. This represents a $0.72 annualized dividend and a yield of 1.2%. New York Times’s payout ratio is 37.11%.

Insider Transactions at New York Times

In other news, EVP Jacqueline M. Welch sold 5,500 shares of New York Times stock in a transaction that occurred on 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. The trade was a 27.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP William Bardeen sold 5,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 11,243 shares of the company’s stock, valued at approximately $652,543.72. This trade represents a 30.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.90% of the company’s stock.

New York Times 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.